The number of Top Funded Used Vehicles sold through Dealertrack Canada’s online credit application network increased in October, according to the company’s data.
The volume of these vehicles saw a 5.8 per cent monthly improvement compared to the same period last year, along with a 24.8 per cent year-over-year gain. The Average Cash Price of the vehicles included in the top 10 list also increased by 4.6 per cent YOY.
The Ram 1500 is the number one vehicle on the Dealertrack list, followed by the Honda Civic, Dodge Grand Caravan, Hyundai Elantra and Ford F-150.
The company also offers some interesting insights into the profiles of Canadians who purchase various vehicles.
Based on the company’s report, 28 per cent of consumers that purchased a Honda Civic still live with their parents, while only 5 per cent of Dodge Grand Caravan buyers are in a similar situation.
The Ford F-150 is the most popular vehicle among 40 per cent of buyers that own some sort of property, but still have a mortgage to pay. And 50 per cent of consumers that buy a Dodge Journey rent their property.
Only 5 per cent of Hyundai Elantra car buyers own their home without having to pay any debt — equivalent to “half the 10 per cent average for all Top Funded Used Vehicles in the Dealertrack network,” according to the company.
Find more year-to-year and month-to-month numbers in the chart below.
