SOURCE: LeaseTrader.com

LeaseTrader.com

October 15, 2009 10:24 ET

LeaseTrader.com Says Sharing Is Caring When It Comes to the Family Car

Company Reports Triple Activity of Families Escaping Car Leases to Share One Family Car

MIAMI, FL--(Marketwire - October 15, 2009) - People have always been taught that "sharing is caring," but now there is evidence that more people are sharing in new ways to cope with high unemployment. LeaseTrader.com reports the number of customers transferring out of car leases to share the only remaining family car has tripled this year.

LeaseTrader.com, the nation's most popular online lease swap marketplace for car leases, helps people walk away from their car lease contract by transferring the auto lease over to another credit-qualified individual. Today's high unemployment is forcing families to make a difficult decision whether to downsize the number of household cars to cut monthly expenditures. LeaseTrader.com's car lease swap program allows people to escape a leasing contract with no harm done to credit, and costs less than one leasing payment.

"We're finding more and more families right now willing to give up one of their cars even if it means they have to share the only remaining family vehicle," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "Despite many headlines that say the recession is over, the reality is that people are still hurting financially and they're finding additional ways to slash their own bills."

LeaseTrader.com data indicates many of the downsizing families now sharing vehicles are located in hard-hit areas like Southern California, Florida and areas suffering from housing foreclosures.

Millions of people feel stuck in an auto lease contract and think their only option is repossession or default. But LeaseTrader.com takes away the feeling of being trapped and offers financially limited drivers a way to walk away from their auto lease contract by transferring it to someone else. The process takes just a few weeks, and currently there is four times as much demand for taking over a leasing vehicle giving drivers an even better chance at getting out.

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.