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

Chauffeur Retention Made Easy: Show You Care

WEB-X-CLUSIVE: The key to happy employees is understanding what they mean to you and your business.

California Operations Combine To Span Regions

Classique Limousines Worldwide in Orange County buys Showcase Limousines based in the Inland Empire.

Renault Purchases Tech Startup Karhoo

The taxi comparison app has found new life with the French carmaker.

Lincoln Ends 2016 With 10% Sales Increase In U.S.

The increase comes against a luxury market that saw gains of less than 1%.

Houston Operations Merge To Form Big Regional Service

Avanti Transportation and A Ambassador Transportation combine complementary vehicles, markets, and clients into 135-vehicle fleet.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blogs

See More

See More

See More

See More

LCT Store

LCT Magazine - January 2017 $12.95 THE MONEY ISSUE COVER STORY: * Dashboard Helps Steer Company Finances * *



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