2011 LEASES BREAK RECORD FOR MOST SAME-YEAR VEHICLES ON LEASETRADER.COM

MIAMI – (December 6, 2011) – 2011 model year leases have broken LeaseTrader.com’s record for largest amount of same-year leases to hit the website’s marketplace. With just one month left in 2011, LeaseTrader’s total inventory is comprised of roughly 15.3 percent of 2011 model leases. The previous record was 2005 when 13.5 percent of leases were listed by the end of the same model year. The 2010 lease year represented 10.6 percent of total inventory by December of that year.

“The fact that so many 2011s have already come into the LeaseTrader marketplace shows that lease deals continue to get better and more people want to exercise their option to transfer earlier,” said Sergio Stiberman, CEO and founder of LeaseTrader.com. “People should not have to wait three or four years if they see a car they’d rather have at any point during their lease contract.”

Many of the drivers looking to escape their 2011 lease are doing so to take advantage of an even better lease deal on a 2012 model. This expedites the automotive sales cycle and creates more inventory turnover at the dealership level in addition to secondary channels. BMW, Mercedes, Toyota and Cadillac are the top four brands with 2011 models listed in the marketplace.

That a significant population of drivers would escape their leased vehicle after just 12 months is no surprise to LeaseTrader officials. Demand for one-year lease activity has exploded since January with takeover demand up 14.2 percent during that period. The appetite for extreme short terms in leasing is becoming more prominent, and today the typical lease customer looks to escape their lease after an average of just 15.7 months into the contract. More dealers are offering 24-month leases and some manufacturers are allowing car buyers to treat their financed vehicle like a lease through a four-year buy-back program.

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