Consumers moving to smaller cars, report says
Mortgage crunch, higher gas prices fueling move
Published: Thursday, September 27, 2007 - 9:48 am
The Greenville News
BUSINESS STAFF
Consumers are going smaller when it comes to vehicles, according to customer data recently analyzed by LeaseTrader.com, a company that helps people transfer car leases.
About 15 percent of LeaseTrader.com customers are transferring out of their Car Lease on a larger vehicle to a smaller one.
"You're talking about a noticeable shift in customer preference, which we expect to resonate with the major car companies," said Sergio Stiberman, chief executive officer and founder of LeaseTrader.com.
Transferring leases is a growing trend, he said, because it offers consumers a chance to change vehicles if their needs or desires change. Conditions often change in the midst of a traditional three-year lease, Stiberman said. The company helps a person transfer the lease contract to another buyer rather than paying $10,000 or more to terminate the lease.
"Everything from the housing situation to rising gas prices has prompted many people to begin changing their automotive preference," he said. Moderately sized vehicles like the Mercedes C class and the BMW 3 Series are among today's most preferred vehicles, according to customer data analyzed in our monthly LeaseTrader.com index.
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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.
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