SOURCE: Swapalease.com

January 30, 2014 09:01 ET

Car Lease Drivers Look to Part Ways With Their Lease in Record Time

Lease Drivers Looking to Transfer Now Escape Just 15 Months Into Their Term

CINCINNATI, OH--(Marketwired - Jan 30, 2014) - Swapalease.com, the nation's largest car lease marketplace, says its customers are escaping their car leases at a new record pace. According to data from December 2013 listings, the average months remaining on cars listed during the month was 22.1, a new record for the 14-year-old marketplace. The previous record was 21.8 months remaining set back in August 2006 and prior to the recession.

With average lease terms still set at 36 months, this data says the average person looking to escape his or her lease looks to part ways with their car just shy of driving 15 months into the lease term. Car leasing is once again a major part of the automotive shopping experience, and at the end of 2013 Swapalease.com executives noted that roughly 27% of all cars sold were through lease programs.

"The appetite for leasing is back at all-time-high levels, and most carmakers are currently offering attractive auto lease deals for consumers," said Scot Hall, Executive Vice President of Swapalease.com. "But this data goes a step further to validate the fact that drivers today are looking for the chance to drive a different car on a nearly annual basis."

The December listing data also shed light on when drivers look to part ways with certain makes and models. Below are the top five cars that were transferred with the least and most months remaining on the contract.

 
Fewest months remaining:
Honda   Civic   15.4
Honda   Accord   15.6
Ford   Explorer   16.2
Infiniti   G37   16.9
BMW   7 Series   17.7
         
 
Most months remaining:
Cadillac   ATS   24.8
Kia   Optima   25.3
VW   Passat   26.1
Audi   A8   26.7
Toyota   Prius   28.0
         

About Swapalease.com:
Headquartered in Cincinnati, Ohio, Swapalease.com is the world's largest automotive lease marketplace and the pioneer in facilitating lease transfers online. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.

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