MAJORITY OF PEOPLE STILL ESCAPE LEASED VEHICLES FOR FINANCIAL REASONS

MIAMI – (July 7, 2011) – The seesaw economy still has an adverse impact on drivers escaping vehicle leases, according to LeaseTrader.com customer advisor specialists. During June, 54.7 percent of drivers escaping their lease did so because of financial reasons. This percentage was down slightly from May (56.2%) and January, when 62.7 percent of escapes were financially motivated.

Thousands of lease drivers across the country use LeaseTrader.com each month to escape an existing lease by transferring the remaining contract to someone else. Some reasons involve people simply wanting a different car, while others are because people want out of their lease payment for economic reasons.

“This number has always been a little bit of an economic indicator for us because it shows when people are making a change for vanity or financial reasons,” said Sergio Stiberman, CEO and founder of LeaseTrader.com.

The numbers were the opposite story through the end of 2007, when 68.3 percent of people said they used LeaseTrader.com because they simply wanted a different car (only 27.1% for financial reasons). Since the economy slowed in 2008, the reasons have reversed and financial motivation has consistently been the leading reason. Housing, credit card bills and job/income status are the three leading reasons that comprise financial motivation when escaping a lease.

Percentage of transactions for financial reasons by month:

Month	% Financial Reasons
January 2011	62.7%
February 2011	62.9%
March 2011	60.3%
April 2011	58.2%
May 2011	56.2%
June 2011	54.7%

Lease drivers transferring out for financial reasons are spread across several vehicle categories, especially the luxury category. Entry-level luxury, premium luxury and SUV luxury in particular are segments that still see a lot of financially motivated transfers. In many cases a person will downsize from premium luxury down to entry-luxury, for example.

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LeaseTrader.com, the most recognized name in car leasing, 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.