Drivers Using Vehicle lease transfer Program To Downsize & Cut Their Bills
MIAMI (November 6, 2008) – LeaseTrader.com, the nationwide online marketplace for Car Lease transfers, reports a 24 percent rise in customers listing their vehicle for transfer due to job loss and their desire to downsize into a more affordable car.
With the economy slamming on the brakes, a staggering amount of Americans continue to lose their jobs. Naturally, the first thing they look to do is lower their bills. LeaseTrader.com’s vehicle lease transfer program allows consumers to escape a lease they can’t afford and transfer the remaining contract to someone else.
Job cut announcements by Challenger, Gray & Christmas Inc., as well as payroll manager ADP, both said this week that job cuts soared in October compared to September. What’s worse, the Department of Labor’s monthly report is due this week and is expected to point towards a growing unemployment rate beyond 6.1 percent.
LeaseTrader.com also reports the majority of vehicle postings from customers looking to downsize are located in Michigan (36% increase), Ohio (27% increase), Florida (13% increase) and California (9% increase).
“We’re seeing an influx of drivers throughout the county taking advantage of our lease transfer program and exercising their option to escape their lease contract,” said Sergio Stiberman, CEO and Founder of LeaseTrader.com. “Like the housing market, people taking over many of these vehicles are getting some great deals because there is no down payment and the remaining terms of the lease are shorter than through a dealer.”
LeaseTrader.com’s vehicle lease transfer program allows people to avoid expensive contract termination fees by transferring the remaining portion of their lease to a credit-qualified individual. Drivers pay a one-time $79 listing fee followed by a $149 transfer fee. For optimum convenience, LeaseTrader.com verifies the buyer’s credit ahead of time.
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. For more information 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