The Latte Era Grinds Down
Average Americans were living like the Riches, thanks to easy credit and the real-estate bubble. Now they're trading down instead of trading up.
By Daniel Gross | NEWSWEEK
Oct 22, 2007 Issue
"Across the economy, consumers are now opting for smaller, less expensive items. In the past three years, sales of compact cars—cheaper to buy and operate than SUVs—have risen from 13.6 percent to 17.7 percent of total U.S. auto sales, even as automakers' incentive spending per compact car fell by 55 percent. Leasetrader.com, a 10-year-old company in Miami that helps people get in and out of car leases, says that up to 15 percent of its customers are seeking to trade down to smaller cars. "This is the first time in at least six years that we've noticed people wanting to do that," says Leasetrader.com spokesman John Sternal."
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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