SOURCE: LeaseTrader.com

LeaseTrader.com

November 16, 2009 10:52 ET

LeaseTrader.com Auto Lease Marketplace Could Be Shoppers' Biggest Pay-Pal for Credit

Tiered Pricing Approval Not Part of Credit Application Process at LeaseTrader.com

MIAMI, FL--(Marketwire - November 16, 2009) - LeaseTrader.com estimates that more than 50 percent of car lease shoppers today are not qualifying for a tier-1 lease price at a dealer with many turning to the secondary lease swap market for the right deal. Failing to qualify for tier-1 pricing because of a confusing credit threshold can end up costing consumers thousands over the life of a new lease.

A person's credit history and credit score determine the monthly payment and also the security deposit and down payment requirements on new car leases. With beacon scores lower today, many consumers are qualifying for only undesirable leasing payments.

Credit is analyzed differently in the secondary lease swap marketplace, where LeaseTrader.com matches interested auto lease shoppers with an affordable car lease. Although shoppers still must have good credit to take over a lease, there are no additional levels of credit approval based solely on a person's credit beacon score that then determine which tier they fall into for pricing.

"Keeping good credit is the most important part of a family's balance sheet during this period of economic recovery," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "We're working with people every day who have the credit to get a car lease but can't qualify for the best payment at a dealer. Through lease transfer, these people are getting approved to take over a lease that was initially tier-1 pricing with a great, low payment."

LeaseTrader.com, the nation's most popular online lease swap marketplace, is working with a growing number of customers with mid-range credit scores that are still able to get approved for a car leases with tier-1 pricing. The company matches car shoppers with individuals who no longer wish to stay in their leasing contract. LeaseTrader.com works with the lease company to transfer the lease from one person to another.

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, on Twitter @Lease_Trader, or call 800-770-0207.