Ally Surveys Consumers Featured

By Staff Writer November 05, 2019

U.S. consumers think used cars are older and less expensive than they really are, according to an Ally Financial survey of more than 2,000 American adults conducted by The Harris Poll.

On average, Americans think the average age of a used vehicle at the point of sale is 6.6 years, but data from a 2019 Edmunds Used Vehicle Report puts the average age at 4 years. Additionally, consumers in the Ally survey believed that the price of a used vehicle, on average, at the time of sale is $9,860 when it is more than twice that amount, $20,664, according to Edmunds.

Approximately one-third of Americans (31 percent) in Ally's survey thought the average used vehicle was more than twice as old, 8 years or older, as the actual average age, and only one in 10 Americans correctly said the average purchase price of a used car is more than $20,000.

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Last modified on Monday, 11 November 2019 15:26

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