A motor oil company rewards motorists
Citing a 2009 study, Quaker State motor oil company says more Canadians are keeping their vehicles longer. The average age of light vehicles on Canada's roadways is now 8 years old, and the company thinks motorists should be rewarded.
According to company executives, Quaker State will compensate eligible Canadian drivers for the cash value of their vehicle when it reaches 400,000 kilometers.
Chris Hayek, the company's global brand manager, said the award is part of Quaker State's new cash reward program that users of select oil products may be qualified for.
"People are keeping their vehicles longer to maximize the value of what may be their second largest investment, and the cash back bonus is being introduced to provide a bonus to them for reaching 400,000 kilometers with the help of Quaker State specialty motor oil," said Hayek.
Auto insurance rates tend to be lower for older vehicles whose drivers don't have a history of accidents, which may explain why more Canadians are holding on to their cars longer. Employers may want to look into what group auto insurance discounts are available for employees insuring used vehicles.