October 19, 2010 12:40 ET

Ex-Auto Workers Getting Rid of Vehicles Acquired With Company Discounts

Volume of Deals Has Doubled This Year on

MIAMI, FL--(Marketwire - October 19, 2010) -  Automotive workers get great in-house deals on cars while employed. But a spate of layoffs over the last 18 months has forced a growing number of these ex-auto workers to sell or trade these vehicles in order to save money. The secondary car shopper has benefitted because these vehicles typically are dealt at bargain-basement prices.

Car lease website says it's processing the highest number of deals it has ever seen from former auto workers looking to trade a lease they acquired while employed. In fact, the volume of lease trade deals on vehicles from auto employees has doubled so far in 2010 compared with what it normally processes. Vehicle lease contracts from former auto workers typically average over $2,000 less in monthly payments compared with other listings.

"One of the perks of working for a car company is the company rate at which you can purchase or lease a vehicle," said Sergio Stiberman, CEO and founder of "Many of these former employees now see an opportunity to trade away their vehicle and benefit from the discount they received by their former employer."

General Motors and Chrysler vehicles make up the majority of listings in this category on the marketplace. A Dodge Charger listed at $149 per month with eight months remaining was recently traded, as was a Cadillac CTS listed at $225 for 13 months.

Auto workers pay just $89 to list their lease on the marketplace followed by a $149 commission at the time of transfer. Vehicles listed below the average monthly price often find a new home in less than a week.

About, the most recognized name in car leasing, 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.