SOURCE: Swapalease.com

September 20, 2005 08:00 ET

Swapalease.com Launches Car Lease Want Ads Service

COLUMBUS, OH -- (MARKET WIRE) -- September 20, 2005 -- Swapalease.com (http://www.swapalease.com), the world's largest automotive lease marketplace has launched the first-ever car lease "Want Ads" Service. Swapalease connects automotive lease sellers with buyers who are willing to take over their remaining lease payments.

Swapalease.com's Want Ad service allows buyers to post requests for vehicle leases on the site. Buyers can freely publish up to three active want ads at a time, specifying their desired make, model, color and other information. Current lessees can search or browse these ads to quickly find an interested buyer and begin the transfer process. Registered lease sellers of Swapalease will be automatically notified of all Want Ads that match their vehicle's criteria.

"Buyers now have a greater voice on our site," says Pawan Murthy, Director of Marketing of Swapalease.com. "Buyers post want ads for free and let the sellers come to them. Sellers, in turn, can get a good understanding of market demand for their kind of vehicle and tweak their ad or offer accordingly. Our Want Ads service is just another mechanism to transfer leases faster." In a lease transfer, the buyer assumes the remainder of a seller's auto lease. The buyer starts making the payments, and the seller exits the lease early without any penalties or fines.

Swapalease.com now serves all 50 states in the U.S.A. and all ten provinces in Canada. Customers can search listings in both countries and use the Swapalease team to help facilitate their lease transfers when they find the vehicle they are interested in. Since 1999 the company has transferred over $400 million worth of automotive leases from every state in America.

For more information about Swapalease.com visit http://www.swapalease.com.

About Swapalease.com

Founded in 1999, Swapalease is the world's largest lease marketplace with over $1 billion worth of vehicle leases posted to the site. Swapalease services all aspects of the automotive leasing lifecycle including education, research, pricing, acquisition and lease transfer. The company has offices in Cincinnati and Columbus, Ohio, and is privately held.

Contact Information

  • Media Contact:
    Pawan Murthy
    513-381-0100