April 20, 2007
Used-vehicle transaction parameters remain steady, says J.D. Power
2007 Ford Edge. Click image to enlarge
Toronto, Ontario – The parameters of used-vehicle transactions in Canada have remained steady from the first quarter of 2006 to the same period this year, according to a report from J.D. Power. The typical used-vehicle customer in both time periods was 43 years old, and slightly more than one-third of customers were female.
More than half of all used-vehicle transactions in both years were cash deals, while financing edged up to more than 4 of every 10 transactions; leasing accounted for less than 8 per cent of used-vehicle transactions in both years.
The retail turn rate (the number of days a vehicle sits on the dealer lot before being sold) remained steady at 65 days, and the penetration rates for service contracts, life insurance and accident/health insurance all eased slightly.