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More Drivers Escaping Car Leases To Get New Retail Deals

Posted on April 14, 2010

LeaseTrader.com online transfer marketplace helps people escape lease in favor of new dealer incentives.

MIAMI - LeaseTrader.com, an online marketplace for car leasing, reports new data that shows more consumers escaping a lease to take advantage of aggressive deals offered at the retail level.

Many manufacturers, including Honda and Toyota, are offering leasing deals that include no money down and low monthly payments.

Drivers leasing vehicles after the 2008 credit collapse signed up for contracts that didn't include incentives or aggressive pricing. With better car lease deals today, many of these drivers are using LeaseTrader.com as a way to escape their contract in favor of shopping for a new one.

Since the beginning of 2010, LeaseTrader.com has tracked a 14.8% increase in customers escaping a contract for the purpose of shopping for a new lease deal at retail. A large waiting list for short-term leases, plus added cash incentives from the lessee, has made it easier for people to walk away from their contract.

"There is growing confidence in the overall leasing marketplace which is fueling much more activity for consumers looking for a lease," said Sergio Stiberman, CEO and founder of LeaseTrader.com.

Honda is offering auto lease deals that feature no down payment, no security deposit, no first month's payment, and nothing due at lease signing. Toyota, Mazda and Hyundai also are offering lease deals showcasing ultra-low monthly payments.

Consumers use the LeaseTrader.com marketplace to exit a car lease contract before it expires, allowing drivers to avoid damage to their credit and expensive lease termination fees. A person wanting out of a lease contract with 18 months remaining, for example, can find a credit-qualified individual looking for a short-term lease. LeaseTrader.com facilitates the transfer process between the two parties along with the leasing company to complete the transaction.

About LeaseTrader.com

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

Information: www.LeaseTrader.com or call (800) 770-0207

Related Topics: lease financing, leasing companies, leasing contracts, vehicle leasing, vehicle turnover

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