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More drivers swaping for short-term leases

Posted Thursday, Jun 18, 2009, 3:08 pm in Employee News

Car lease trading—a way for drivers to cut their auto lease payments—is becoming more popular in the midst of the current economic uncertainty, the Denver Post reported.

Cincinnati-based Swapalease.com expects nationwide growth to be up 30 percent from last year, projecting 100,000 transactions for 2009, the Post said. Miami-based Leasetrader.com is projecting 60,000 nationwide lease transfers for 2009, up 24 percent from last year, the paper said.

John Sternal, vice president of marketing and communications for Leasetrader.com, said they have a waiting list of people interested in picking up short-term leases, the Post said. “In this economy, people are really hesitant to sign up for a long-term financial commitment,” he told the paper. (The Denver Post/Detroit News)
 
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