Christopher Null The Working Guy
Story available at http://tech.yahoo.com/blogs/null/29273
Fri June 8, 2007
Rightly or not, I've always been impressed with the notion that a Car Leases is a terrible investment, and that's probably why so many people want to get out of their auto leases before the terms are up. ($1,500 a month for an Audi? Yow!)
LeaseTrader is a sophisticated, good-looking system for those looking to escape draconian leases... or who simply want to upgrade to a new car before the old lease is up.
The service couldn't be easier to use. If you're looking to acquire a lease, a search engine lets you specify make, model, model year, the payment you're willing to accept, and the months remaining on the lease. Specify as many or as few details as you'd like. While there's only one Lamborghini on the site ($2,791 per month), 167 Toyotas are currently listed (the best deal: $200 a month). (I don't have a lease, of course, so I couldn't test the seller's side.)
The service costs about $200 for both the seller and the buyer, and lease transfers take about three weeks to complete.
LeaseTrader is a great idea that the market can't help but need. "Lock in" is bad for consumers, and there's no reason that leases shouldn't be freely transferable just like wholly-owned cars are. And for some buyers, a lease probably does make sense, especially if you need a car for only a limited time, aren't sure whether you want a car for a long period, or just can't find the car you want at the price you need.
Anyone out there had experience with trying to transfer or otherwise break an auto lease?
This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com