SOURCE: LeaseTrader.com

LeaseTrader.com

September 10, 2009 12:49 ET

LeaseTrader.com Sees Increased Volume From Cash For Clunkers Lease Shoppers

Unattractive Cash For Clunkers Lease Terms; Shoppers Turn to Secondary Leasing

MIAMI, FL--(Marketwire - September 10, 2009) - American consumers took advantage of amazing incentives on cars during the recent Cash For Clunkers promotion. But if consumers wanted to take advantage of the program to lease a car, were people left stuck in idle? The Cash For Clunkers program's 60-month lease terms requirement made it unattractive for the leasing customer.

Despite the harsh recession there remains a strong contingent of people that remain loyal to leasing because it's a much better fit for their lifestyle. Although buy and hold offers great financial benefit, millions sill want a leased car for a shorter period of time whereby they only pay for the short-term use rather than the entire car. Catering to this crowd, the secondary lease marketplace has grown more popular and LeaseTrader.com has experienced a 38 percent increase in searches since the Cash For Clunkers promotion.

"The American car shopper can find a low monthly price and enjoy the freedom to drive a different car every few years by exercising their option to escape the contract when they want," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "With more people participating in the secondary lease marketplace there's a great deal of inventory to select from, and it's never been easier to transfer your lease to someone else when you're ready."

Car shoppers can easily search for a car on LeaseTrader.com by mileage left on the lease contract, months remaining, price or even vehicle color and features. Interested consumers browse the listings for free, and when ready to communicate with people they pay just $39 for credit verification. Shoppers pay a $149 brokerage fee at the time of transfer, which completes in just a few weeks even if the car is located across the country.

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 follow on Twitter @Lease_Trader (http://twitter.com/lease_trader), visit http://LeaseTrader.com, or call 800-770-0207.