Service Helps Consumers Escape Costly Car Payments & Exit Car Leases Contracts
MIAMI – August 7, 2007 – Weakness in the housing market is affecting the wallets of people throughout the country. With a majority of the Adjustable Rate Mortgages (ARM) set to turn in the coming months, many consumers will find themselves with tighter budgets for expenditures such as cars and other goods.
And with family finances tightening, many consumers will soon find themselves looking to adjust their monthly spending in line with new monthly budgets. One area people can now easily readjust is their auto budget.
“Thousands of consumers will start to see their monthly mortgage rise, meaning they will look to cut costs elsewhere from their monthly budgets,” said Sergio Stiberman, CEO and founder of LeaseTrader.com. “We offer people the unique opportunity to transfer out of their Car Leases, enabling them to find a different car that fits their new budget and needs.”
Most people sign up for a Car Leases contract that typically lasts four years. It’s extremely difficult to plan your financial situation that far in advance. Now that many ARMs will be turning this fall, consumers will face an unexpected change in their monthly spending – something they didn’t foresee two years ago when they initially leased their vehicle for the ensuing four years.
Unfortunately it’s not as simple as terminating a Car Leases, since auto companies slap consumers with thousands of dollars in early termination penalties. The best alternative is to use a lease transfer program such as one offered by LeaseTrader.com. Instead of paying thousands to terminate early, consumers can now pay just a few hundred dollars and have the freedom to walk away from their current Car Leases.
LeaseTrader.com offers benefits to the auto industry as well since it expedites the car shopping experience. Once a customer transfers out of their lease, they will most likely purchase or lease a new vehicle that’s more in line with their new budget.
“At the end of the day, it’s a win-win situation,” added Stiberman. “The customer gets into a different vehicle, and the car companies continue to receive payments on the lease while also selling a new car.”
About LeaseTrader.com
LeaseTrader.com is an innovative provider of auto lease transfers that easily and affordably matches people looking to transfer car leases. Available to users nationwide, the service helps to match individuals looking to get out of their Car Leases early, with people looking for short-term leases. Privately held and founded in 1998, LeaseTrader.com is headquartered in Miami. For more information visit www.leasetrader.com, or call 800-770-0207.
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Print | posted on Tuesday, August 07, 2007 8:15 PM