Dealertrack Funded Used Vehicles See Increases in 2017
As 2017 came to a close, the vast majority of the Top 10 Funded Used Vehicles sold through the Dealertrack Canada network saw annual increases compared to the same period a year before.
With 9 out of the 10 vehicles recording gains in December 2017, the Average Cash Price of the Top 10 Funded Used Vehicles rose by 5.23 percent compared to 12 months earlier.
“2017 was a solid year overall for the used car business and our Dealertrack Canada network, and we expect this trend to continue in 2018,” said Richard Evans, Vice-President and General Manager of Dealertrack Canada.
As a leading provider of web-based software solutions and services for all major segments of the automotive industry, Cox Automotive Canada’s digital solutions brand continues to see substantial gains in its Dealertrack online credit application network.
Dealertrack clients also have access to Customized Dealertrack Dealer Reports that consolidate a vast amount of non-personal demographic information, market trends and preferences from the Dealertrack online credit application network.
Some key insights from 2017’s overall Top 10 Funded Used Vehicles data include:
- The most popular trade-in year was 2014
- The average 2017 Top 10 Funded Vehicle was 40.7 months old
- The average cash price paid was $19,539
- The average used buyer annual income was $55,318
In Canada, over 4.5 Million credit applications are submitted annually through Dealertrack Network for vehicle financing.