Vehicle Lease Transfer Grows in Popularity As Consumers Shy Away From Auto DealersShort-Term Leases and No Down Payment Fuels 30% Increase for LeaseTrader.com
MIAMI, June 17 /PRNewswire/ -- In the wake of high gas prices and the slumping U.S. auto market, LeaseTrader.com has experienced a 30 percent increase in transactions for its lease transfer program. Many consumers point to a slowing economy and unappealing new car sales incentives as leading reasons why they'd rather take over someone else's lease. There is no down payment required when you take over someone's lease. What's more, consumers realize that a long-term finance plan isn't a smart move in today's economy because they're not able to project their financial situation over a very long term. Some U.S. auto manufacturers have reported sales decreases from 20 - 40 percent on certain vehicles in recent months. Even smaller, more fuel-efficient cars are selling at low, single-digit increases for manufacturers. Since the beginning of 2008, LeaseTrader.com has tracked a 30 percent increase in transactions. Vehicle shoppers have the luxury of taking the car salesman out of the picture by negotiating directly with another consumer wanting out of a vehicle that still has several months remaining on the lease. "People have a higher comfort level and more control over their car shopping experience when they shop via the Internet as opposed to working with a dealer," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "And when you take over a very short-term lease, you're only picking up where the first person left off, so you avoid getting locked into a long-term financial commitment." So far in 2008, the BMW 3 Series and Mercedes C-Class have been the most popular vehicles for lease transfer. Both cars combine exceptional performance and reliability with luxury at an affordable, entry-level price. LeaseTrader.com customers can usually find these vehicles at an appealing monthly price point with no money down and very short-term lease terms. Free to browse the site, LeaseTrader.com shoppers pay just $39 for credit verification, followed by a $149 fee to transfer the lease into your name. About LeaseTrader.com LeaseTrader.com facilitates automobile lease transfers and easily and affordably matches car shoppers with drivers wanting out of their leased vehicle. Visit http://leasetrader.com , or call 800-770-0207.
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