Operations

Season Of Recovery? The Leases Are Getting Longer

Posted on September 22, 2009

Leasetrader.com sees more people searching for longer lease terms. Drivers are feeding into rising consumer confidence and are becoming more comfortable with longer terms.

MIAMI — U.S. consumer confidence continues to strengthen and the index has risen to 52.5 in September from 50.3 in August, according to leading indicators. Obvious signals such as the stock market show evidence of an economic rebound, but smaller indicators also support the rise in consumer confidence.

Retail sales were up 2.7% in August and Cash For Clunkers spurred a 10.6% growth in auto sales, but consumer confidence also can be traced to Americans' willingness to sign up for financial commitments such as leasing. Car lease swap website LeaseTrader.com says consumers are shopping for longer lease terms. In the first quarter of 2009, customers were looking for short-term car leases with an average of 12 months left on contract. Today that number is closer to 16 months.

"Confidence has a lot to do with car leases since it's all about a willingness to sign up for a financial commitment," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "We've always worked with people to take away the feeling of being trapped in a car lease contract. And while we're happy to give people the lease escape option, it is also telling that people today are more willing to commit to a longer financial contract because of economic confidence."

When a person signs up for an auto lease, they often feel trapped in the contract with no way out, even if life changes make it impossible to make payments. LeaseTrader.com eases the financial burden of leasing by giving people the option to trade their lease to a credit-qualified individual at any time.

LeaseTrader.com's lease swap program is affordable and easy to use. Auto lease drivers pay just $79 to list their vehicle and work with LeaseTrader.com specialists to transfer remaining lease to a different person.

About LeaseTrader.com

LeaseTrader.com matches car shoppers with individuals looking to escape their auto leases. Privately held and founded in 1998, LeaseTrader.com is headquartered in Miami.

For more information follow on Twitter @Lease_Trader, visit http://www.leasetrader.com/, or call 800-770-0207.

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