SOURCE: LeaseTrader.com

LeaseTrader.com

December 14, 2010 12:03 ET

LeaseTrader.com Says More People Today Drive a Different Car Every Year

LeaseTrader.com Loyalty Program Grows; Members Drive Different Car Every 13.6 Months

MIAMI, FL--(Marketwire - December 14, 2010) - LeaseTrader.com, the nation's most popular car leasing marketplace, says its Loyalty Program has grown to its largest rate in the history of the marketplace. The typical member in the Loyalty Program takes over a car lease with an average of 13.6 months on the lease, down from 15.7 months just three years ago.

LeaseTrader.com allows people to escape a car lease before it expires, expediting their personal car shopping process. Conversely, shoppers benefit by taking over the remaining portion of a lease with only short terms remaining and no down payment or significant out-of-pocket cash. The typical member in the Loyalty Program enjoys the leasing lifestyle and prefers to drive a different car in a short amount of time.

"Most Americans today drive their car until they want or need a new one, yet the majority are continuously paying lots of cash up front and a monthly payment," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "Our Loyalty Program allows people to get a different car every year or so, avoid expensive dealer down payments and pay a lower than average monthly payment."

The average down payment for a lease at the dealer level today is anywhere from $2,000 to $4,000, while the average terms are 39-48 months. LeaseTrader.com Loyalty Program members avoid the down payment and simply finish out the remaining length on the contract, today averaging 13.6 months. At the end of the contract the driver turns in the vehicle and then shops for another short-term lease in the LeaseTrader.com marketplace.

LeaseTrader.com Loyalty Program members make up 6.5 percent of the marketplace, up from 4.2 percent just three years ago.

About LeaseTrader.com
LeaseTrader.com, 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, LeaseTrader.com is headquartered in Miami. For more information visit www.LeaseTrader.com, on Twitter @Lease_Trader, or call 800-770-0207.