April 20, 2007

Used-vehicle transaction parameters remain steady, says J.D. Power


2007 Ford Edge
2007 Ford Edge. Click image to enlarge

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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.

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