Operations

LeaseTrader.com Sees Rate Of Vehicle Downsizing Easing

Posted on July 21, 2009

A second quarter report shows more people assuming mid-size and entry-level luxury vehicle leases

MIAMI - LeaseTrader.com, the nation's most popular online marketplace for car lease transfers, recently announced a shift in customer demand for vehicles that may shed light on the economic recovery. LeaseTrader.com's Q2 customer activity report shows a modest rise in people assuming mid-size and luxury vehicles. 

Beginning with the gas crunch in the spring of 2008, LeaseTrader.com customers downsized into a smaller, less expensive vehicle at a nationwide increase of 25-30%. Since the beginning of Q2 (April 2009), this percentage increase has slowed to 10-15%. 

"There seems to be more confidence in the American economy drawing more people back to the mid-size and luxury leases," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "Consumers are still exercising their option to escape a car lease by transferring it to someone else, but they're also more willing to shop for a vehicle that is in a similar monthly payment category rather than drastically downsizing their payment."

The LeaseTrader.com trend coincides with the automotive industry which may be seeing a small light at the end of the tunnel for car sales. According to media reports, new car sales in June saw its smallest decline in any month so far this year (28%) suggesting further evidence of a possible bottom in the market. Low inventories, incentive programs, and rising consumer confidence all play into this shifting automotive trend.

LeaseTrader.com is seeing an uptick in lease takeover demand for entry-level luxury vehicles such as the BMW 3 Series and Mercedes C Class, in addition to crossover vehicles like the Buick Enclave and Mazda CX-9.

LeaseTrader.com's Lease Takeover program allows people to adopt the remaining portion of someone else's lease to avoid a down payment at a dealer and lengthy lease terms. Lease shoppers pay a $39 membership for with credit check and $149 to begin the transfer process.

LeaseTrader.com easily and affordably matches car shoppers with individuals looking to transfer their auto lease. Privately held and founded in 1998, LeaseTrader.com is headquartered in Miami.

Information: www.LeaseTrader.com

View comments or post a comment on this story. (0 Comments)

More News

New Online Limo Service Brokerage Offers Discounted Rides

The two-year-old company racks up results and fans as it helps operators fill unused vehicles and seats.

Celebrity Worldwide Launches New Charter Jet Website

Clients of the Philadelphia-based company can book seamless air travel worldwide through an easy, more informative site.

No Way Uber Worth $70 Billion, Investor Says

Meanwhile, the feds have penalized the TNC for misleading consumers on its privacy practices.

Updated Uber For Business Gives Companies More Control

The TNC's refreshed platform will help streamline corporate ride-hail use, especially for unmanaged travel programs.

Dream Team: How One Company Keeps Clients And Staff

eNews Exclusive: Concierge Limousine along California’s Gold Coast knows that without happy, loyal employees, an operation will fall apart.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - August 2017 $12.95 MILLENNIALS/FAST 40 ISSUE COVER STORY: * How to Score & Keep The Best Young Talent * *
LCT Magazine - July 2017 $12.95 COVER STORY: * Why These Titans Work So Hard to Give it Away * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close