MIAMI – (March 30, 2011) – LeaseTrader.com, the nation's most popular online car lease marketplace, reports increased listings and inventory from vehicles leased in early 2010 when retailers jump-started new lease programs and deals. LeaseTrader.com notes a 16.3 percent increase during the last 60 days from customers listing their vehicles for lease transfer on 2010 and 2011 leased vehicles. Most of these leases average between 18-24 months remaining on the contract.
New vehicle lease programs at the retail level slowed considerably during the recession but were reignited in 2010 when credit markets and residual values stabilized and strengthened. Domestic manufacturers (Ford, GM, Chrysler) make up a good percentage of this inventory, representing their re-entry into aggressive leasing programs during 2010. BMW, Lexus, Mercedes and Honda are popular non-domestic brands represented in the recent inventory as these manufacturers also introduced lease programs with lowered monthly payments. Rebounding from safety-related recalls in certain models, Toyota launched aggressive lease deals during early 2010 as well.
"What we're beginning to see is an influx of listings and inventory from people who took advantage of new lease programs when the industry began its comeback last year," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "The main driver for many of these people is a desire to exit their lease so they can turn around and acquire a new lease with even more aggressive terms offered at the retail level."
A large portion of car shoppers still affected by the recovering economy are interested in lease terms with a shorter commitment than the 39-month average offered at retail. With nearly four times the demand for short-term leases on the LeaseTrader.com marketplace, most vehicles listed with 25 months remaining are averaging three weeks for transfer. These car shoppers avoid dealer down payment and additional dealer fees when taking over an existing lease.
About LeaseTrader.com
LeaseTrader.com is a consumer advocacy and car leasing website that easily and affordably matches car shoppers with individuals looking to escape their auto lease. Visit www.LeaseTrader.com, on Twitter @Lease_Trader, or call 800-770-0207.
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