January 13, 2010 10:51 ET Applauds General Motors' Desire of Increased Leasing

Increased Residual Outlook on 2010 Models Points to More Leases in Coming Year

MIAMI, FL--(Marketwire - January 13, 2010) -, the most popular online marketplace for car leasing, was pleased to hear reports of General Motors Chief Executive Ed Whitacre stating the company's ability to offer more lease deals entering 2010. His comments were made at this week's North American International Auto Show in Detroit.

GM's Cadillac is a popular brand on, an online auto lease marketplace that lets lease drivers transfer in and out of vehicles during their leasing contract. Cadillac continues to be among the most popular domestic brands on, along with the Ford Fusion and Ford Edge. Cadillac finished 2009 with two of the top five most popular domestic vehicles for takeover on with its CTS (1st) and Escalade (5th).

Buick, GMC and Chevrolet also finished with high domestic vehicle takeovers with the Enclave (6th), the Sierra (8th) and the Silverado (9th). Combined GM vehicle transactions doubled on the marketplace in 2009, mainly due to the difficulties in obtaining car leases at the retail level.

"The credit situation understandably placed GM and GMAC in a difficult position to write leases during 2009," said Sergio Stiberman, CEO and founder of "GM's turnaround and ability to produce higher quality vehicles that hold stronger residuals, combined with a recovering economy, should position the company to have more leasing activity in 2010."

According to media reports, Mr. Whitacre indicated that GM's resale values will strengthen with the 2010 vehicles, which will ultimately enable GMAC to write more leases. He also indicated increased leasing is important for GM to compete with rivals in the luxury category. GMAC's lease swap policies continue to score well based on customer feedback among drivers using the leasing marketplace. Many drivers point towards friendly customer service and an easy transfer process when taking over a GMAC lease.

About easily and affordably matches car shoppers with individuals looking to escape their auto lease. Privately held and founded in 1998, is headquartered in Miami. For more information visit, on Twitter @Lease_Trader, or call 800-770-0207.