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Purchase and Financing of Newly Acquired Vehicles

Twenty-four per cent of grownups report that either they or their spouse or partner obtained (bought or leased) a fresh or car or vehicle or truck when you look at the previous 12 months. Of these whom purchased or leased a vehicle, 38 per cent bought a vehicle that is new 35 per cent bought an utilized vehicle from a dealership or vehicle salesman, 17 per cent bought an utilized vehicle from an exclusive vendor, and 9 per cent leased an automobile. 31

The origin from where people get automobiles differs significantly by earnings degree. Among lower-income participants whom purchased or leased an automobile into the prior 12 months, two-thirds acquired it utilized, and 31 % purchased that automobile from a personal vendor. Over 50 % of higher-income participants who acquired a car, having said that, either leased the vehicle or bought it brand brand new (figure 24).

Figure 24. Supply of newly obtained cars (by household earnings)

Note: Among participants who leased or purchased a car in past times year.

The median period over which they expect to keep that vehicle is six years among all respondents who acquired a car or truck in the prior year. Nonetheless, the anticipated lifetime of the automobile varies centered on whether it had been leased, bought brand brand new, or bought utilized. Respondents whom bought a unique, unused car be prepared to ensure that is stays for the median of nine years. This comes even close to a median expected keeping duration of 5 years if you purchased their car from the personal vendor ( dining dining dining table 22). 继续阅读Purchase and Financing of Newly Acquired Vehicles