For Immediate Release
lease transfer SERVICE HELPS CONSUMERS AVOID AUTO REPOSSESSION
Slowing Economy & Job Growth Prove Difficult for Drivers
MIAMI – (February 26, 2008) – With the economy slowing, people are increasingly late on their credit payments, including auto loans. Now that consumers have to pay down debt without tapping extra lines of credit, many are finding it difficult to stay current on vehicle payments.
LeaseTrader.com helps by finding someone else to assume your Car Lease - a great option for drivers who no longer can afford their leased vehicle. Rather than pay the exorbitant early termination fees, or worse, face repossession from the bank, lessees can simply get out of their contract altogether and walk away from their payments.
People who can’t afford their car payment because of too much debt are not able to pay out the remaining terms of the lease – a figure that can be $10,000 or more. What’s worse, a repossession mark on your credit score can be seriously damaging for any future possibilities of securing new credit, applying for a mortgage or apartment, or even financing your next car.
"The ramifications of a negative credit report can reach far into areas of one’s life that may not be presently apparent,” said Dr. Helen K. Simon, finance professor at Florida International University. “Obviously, future purchases of the necessities of life, like homes and cars, become more difficult, more costly, and often impossible.”
“The most important thing a consumer must focus on in this economic situation is protecting your credit,” said Sergio Stiberman, CEO and founder of LeaseTrader.com. “With an average transfer now taking just three weeks, the easiest and most affordable way to keep the bank from repossession is to transfer your lease contract to someone else.”
The Washington Post recently reported that the number of repossessions soared last year by 10 percent and is expected to rise by the same amount this year, according to Thomas Webb of car auction firm, Manheim.
Consumers interested in LeaseTrader.com’s program pay just $79 to list their vehicle online, followed by a $149 fee once the transfer process begins.
LeaseTrader.com facilitates automobile lease transfers and easily and affordably matches car shoppers with drivers wanting out of their leased vehicle. Visit www.leasetrader.com, or call 800-770-0207.
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This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com