MIAMI, FL - LeaseTrader.com, the nationwide online marketplace for Car Lease transfers, today announced it has bucked the trend in automotive market liquidity with a 28 percent rise in lease transfer transactions in December 2008. Vehicle lease holders are increasingly exercising the option of transferring their lease to a credit-qualified shopper in the market for a short-term lease.
Like the housing market, no liquidity is a leading reason why the auto market suffered through one of its worst years for sales in recent memory. GM, Ford, Honda and Toyota all posted sales declines of at least 30 percent for December, finishing 2008 with total sales plummeting from recent years due to the recession, a mid-year spike in gas prices, a credit freeze and liquidity that dried up from a lack of buyers.
"Due to shrinking liquidity and tightening credit, 2008 has proven to be a difficult sales landscape for the entire automotive industry," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "The lease transfer marketplace is vibrant because it offers customers freedom and flexibility in their lease contract. With our growing customer base, LeaseTrader.com brings much-needed liquidity to the leasing industry."
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LeaseTrader.com also reports the following as the most in-demand vehicles in the last quarter of 2008:
1) Mini Cooper
2) BMW 3 Series
3) Mercedes C300
4) BMW X3
5) Cadillac STS
lease transfer benefits people who no longer can afford -- or want -- the remaining portion of their lease contract by matching them up with a credit-qualified person to take over their lease contract. Conversely, millions of people don't have the necessary cash for a down payment when shopping for a vehicle today. LeaseTrader.com's Vehicle Lease Takeover Program allows consumers to avoid the down payment by helping them take over the remaining portion of an existing lease. These car shoppers enjoy shorter terms as they're only obligated to finish the remaining months on the existing lease.
About LeaseTrader.com
LeaseTrader.com easily and affordably matches car shoppers with individuals looking to escape their auto lease. Privately held and founded in 1998, LeaseTrader.com is headquartered in Miami. For more information visit www.leasetrader.com, or call 800-770-0207.
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