SOURCE: LeaseTrader.com

LeaseTrader.com

April 29, 2009 09:55 ET

LeaseTrader.com Waiting List for Lease Takeovers Continues Climb in Q1

Sensible Programs/Options Keeping Customers Away From Dealers, Not Economy

MIAMI, FL--(Marketwire - April 29, 2009) - LeaseTrader.com, the nationwide online marketplace for car lease transfers, reports an 11 percent increase in demand for the company's Lease Takeover Program (people looking to takeover an existing lease) in the first quarter of 2009. Demand for people waiting to take over secondary leases on LeaseTrader.com has now increased steadily following an eight percent increase in Q4 of 2008.

With a growing waiting list of car shoppers looking for a secondary lease, LeaseTrader.com proves it is not necessary to pay a large down payment and commit to long-term terms. LeaseTrader.com matches credit-qualified shoppers on this waiting list with individuals looking to escape an existing lease. After meeting through the Web site, LeaseTrader.com then facilitates the transfer of the remaining lease contract from one person to the next.

"We're seeing more people sign up for our Lease Takeover Program because they still have a desire to shop for an automobile despite the current economic climate," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "It's not so much the economy keeping people away from auto dealers, but rather a lack of options that meet their needs. With a shorter financial obligation involved and no down payment, our Lease Takeover Program allows for more flexible options that meet the needs of today's average family."

Although LeaseTrader.com has a healthy and growing marketplace for people escaping their car lease, the company has three times as many people waiting to take over a lease because of the financial benefits involved. In addition to getting a lease still under warranty, customers are committed only to what's left on the lease and can often negotiate a lower monthly payment with the person wanting 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 follow on Twitter @Lease_Trader or visit www.leasetrader.com, or call 800-770-0207.