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Cuando el mercado de autos flaquea, el arrendamiento florece

Bertha Velasquez — Fri, 03 Jul 2009 13:54:37 GMT

La rebaja econ�mica no tiene un final predecible y entonces algunos tratan de decidir cuales son sus mejores opciones al tratar de comprar un veh�culo y qu� pr�stamos hay disponibles. Para mucha gente que no califica para comprar un carro, la mejor opci�n es la siguiente, arrendar uno.

Un arriendo de vehiculo, que no se debe confundir con la compra de un veh�culo, incluye un contrato en el cual una persona arrienda un vehiculo por cierto periodo de tiempo, al terminar el contrato, quien arrienda debe devolver el auto al concesionario de quien se obtuvo el arriendo o la compra del veh�culo.

Algunos piensan que ellos sacan mas de arrendar un vehiculo que en comprar uno. La gente que prefiere un arriendo puede arrendar diferentes veh�culos peri�dicamente con menos pagos mensuales � arriendos separados. A diferencia de los que compran un veh�culo, los que arriendan no tienen que preocuparse del valor del veh�culo ni de la venta del vehiculo al final del contrato de compra. Los cargos, sin embargo, se pueden acumular debido al desgaste del veh�culo y tambi�n hay restricciones de millaje que se estipulan en el contrato del arriendo.

Aun cuando muchos ven mas beneficios en arrendar un vehiculo que en comprar uno, otros han tenido dificultades financieras para finalizar el contrato sin mucha diferencia a los due�os de carro.

Una tendencia bastante notable que esta creciendo es el cambio del arriendo a otro comprador calificado que quiere tomar el resto del arriendo. Muchos que arriendan han buscado a LeaseTrader.com para hacer esto.

Los servicios proporcionados por LeaseTrader.com, permiten a los que arrienda, y que no pueden continuar con los pagos, traspasar el resto de su arriendo a otra persona. Los individuos que quieren salirse de un arriendo pueden hacer la transferencia sin castigos financieros � los cargos de terminaci�n se aplican cuando

los que arriendan terminan r�pido el contrato � otro motivo por el cual muchos est�n cambiando su arriendo.

�Hoy los concesionarios se han cambiado a contratos de arriendo a plazos mas largos y hacienda mas dif�cil que la gente cumpla con sus contratos de arrendamiento,� dijo Sergio Stiberman, presidente y jefe ejecutivo de LeaseTrader.com. �Nuestro servicio ayuda al consumidor a adaptarse a los eventos impredecibles de la vida y salir de su vehiculo arrendado. Esto les permite seguir adelante y escoger el vehiculo que mas se ajusta a sus necesidades financieras y recreacionales.�

LeaseTrader.com, que fue fundado en 1998, vio cerca de 45,000 transacciones nacionales el a�o pasado y espera ver cerca de 60,000 transacciones nacionales este a�o. Las tendencias de arrendamiento en Colorado han sobrepasado los promedios nacionales. Los n�meros muestran que en promedio, los arriendos de Colorado tienen un balance m�s alto en sus contratos, lo que indica que los arriendos locales se est�n saliendo de sus contratos antes que el promedio nacional. La informaci�n refleja actividad en el portal desde los 8 a los 10 meses pasados.

El promedio nacional del balance que queda en el arriendo de un carro es de $9,260 con cerca de 16 meses restantes en el arriendo. En Colorado, hay un balance promedio de $10,700 y 19 meses restantes en el arriendo. La marca de veh�culo que hace que las marcas mayores en trasferencias son BMW X3, Chevy Avalanche, Chevy Trailblazer, Jeep Grand Cherokee y el Toyota Tacoma.

Los que est�n buscando intercambiar su arriendo ponen la informaci�n del vehiculo en LeaseTrader.com y pagan $49 al frente. El servicio busca entonces compradores potenciales que est�n interesados en el veh�culo y tomar el arriendo. No hay una cuota de entrada para el comprador. La transacci�n se hace completamente en-l�nea y la transferencia tiene lugar en 3 a

6 semanas y da un total de algo m�s de $200 en cargos de transacci�n.

Es importante anotar que la compa��a arrendadora que autoriza el arriendo original decidir� si el comprador potencial califica para tomar a su cargo el restante del arriendo basado en cr�dito que tenga la persona y la pol�tica de la compa��a. Tambi�n, aun cuando la transferencia de arriendos se hace posible por medio de los servicios proporcionados por LeseTrader.com, el vendedor y comprador son los responsables de coordinar la transferencia actual del veh�culo.

Auto-lease trading business is booming for LeaseTrader.com

Sara Castellanos — Fri, 12 Jun 2009 14:35:44 GMT

Auto-lease trading is becoming more popular among those who can't afford to pay off or purchase long-term leases in the midst of economic uncertainty.

In the past 10 months, Miami-based Leasetrader.com has seen a 29 percent increase in auto-lease trades in Denver. Cincinnati-based SwapaLease .com has seen a 54 percent increase in traffic on its website in Denver.

Lease trading allows a leaseholder to get out of an auto lease if that person finds someone to take over the monthly payment.

The new owner is responsible only for the remainder of the lease contract — not a down payment as with the original lessee — and can choose to purchase the car at the end of the lease.

Glenn Davis of Westminster used Swapa Lease.com in April because he wanted to get out of his monthly payment and purchase a less expensive car.

The lease was on a 2008 Mercedes- Benz GL450 with 14 months left on the contract and a payment of $850 a month.

"I didn't think in this economy anyone would want to take over my payment," Davis said. "But in this age of instant gratification, somebody can now drive a more expensive vehicle for a lesser period of time than they normally could (afford)."

Within a week of posting on the website, he received about 20 inquiries, and by mid- May the car was off his hands. Mercedes charged the new lessee a $595 transfer fee.

For Denver resident Grant Kirsh, Leasetrader.com helped him take over a 2007 BMW X5 4.8i. He will pay $500 monthly for 12 months.

"It makes so much economic sense," he said. "People may not want to drop $30,000 on a car and get tied to a three-year lease."

The original owner had made a $15,000 down payment, Kirsh said. Swapalease.com expects nationwide growth to be 30 percent from last year, projecting 100,000 transactions for 2009. Leasetrader.com projects 60,000 nationwide lease transfers for 2009, up 24 percent from last year.

John Sternal, vice president of marketing and communications for Leasetrader.com, said the company has a waiting list of people interested in picking up short-term leases.

"In this economy, people are really hesitant to sign up for a long-term financial commitment," he said.

Although the Better Business Bureau of Denver reported no complaints about lease-trading companies, Tim Jackson, president of the Colorado Automobile Dealers Association, urged caution.

He said the original lease owner could still be obligated to make lease payments if a new lessee for some reason refused to.

Downshifting on auto leases

LeaseTrader and Lease Trades on The Rise

Peter Marcus — Tue, 09 Jun 2009 13:31:02 GMT

More people trying to get out of payments they can’t afford

The economic downturn has left some consumers stuck with car leases they simply can’t afford.

Littleton resident Jeff Ross is one of many to represent a 29-percent spike in the number of Colorado families using the LeaseTrader.com trade program to escape a lease they can no longer afford. The online service connects lease holders with thousands of buyers looking to adopt the lease, and allows consumers to downsize into something less expensive.

Having been recently laid off from his job as an engineer — a casualty of the recession — the last thing Ross wanted to do was pay as much as $8,000 to get out of his leased 2007 BMW 335i. So, like many other Coloradans, Ross turned to LeaseTrader.com.

“I used the money that I would have spent on paying off the lease to get a new vehicle for me,” he said, noting that he is now saving money having purchased a used Ford Explorer.

Similar to a classified posting, users post pictures and descriptions of their vehicles, hoping to find a consumer looking to adopt their lease. For this service, sellers pay a $79 service fee. If a transaction is successful, then both parties pay a final $149 transfer fee.

The benefit to sellers is obvious — they save a lot of money. But John Sternal, vice president of marketing for LeaseTrader.com, says the “untold story” is the benefits to buyers.

“Everybody knows us as the company that gets you out of your lease, but believe it or not, the benefits are actually greater to the person taking over,” said Sternal.

He points out that people adopting the lease benefit by not paying a down payment, as well as being able to customize their search by looking for vehicles based on mileage and lease expiration dates, to name a couple.

Buyers also benefit from being able to adopt a short-term lease, said Sternal. If someone wants a 10-month lease, they can find a 10-month lease; if a consumer wants a 14-month lease, they can find a 14-month lease, he said.

“In today’s economy, where people are really not interested in locking themselves into a 60-month lease, or a 48-month lease, that’s a pretty big benefit,” said Sternal. “A lot of our customers tell us, ‘I just want a car for a year, I don’t know what’s going to happen after that.’”

People looking to take over a lease pay a $39 sign-up fee, which covers necessary credit checks.

Not everyone, however, uses lease transfer and assumption services because of financial difficulties. Highlands Ranch resident Cristina Julia needed to give up her 2008 Lexus IS 350 because the family was expecting a second child. Becoming a family of four, it was time for them to get into a larger vehicle.

“We just decided that we didn’t like the car we had and that we wanted to get into a larger vehicle,” said Julia.

Sternal stopped short of calling the business “recession-proof,” but said it certainly is “recession-resilient.”

He said when times are good, people use the service to upgrade, but that when times are bad, people use it to downsize. While a year ago consumers said they used LeaseTrader.com because of mortgage worries, today the biggest concern is employment.

“I guess you’d call us the middle man that glues all the different parts together,” said Sternal.

LeaseTrader.com What They're Thinking

Tue, 26 May 2009 19:21:48 GMT

LeaseTrader.com What They're Thinking?

According to LeaseTrader.com women are now interested in driving their BMW car lease, Mercedes car lease, Range Rover car lease, Infiniti car lease, or Lexus car lease. The survey shows that 18 percent of women now prefer driving on a first date. Women, what are you waiting for, take a look at LeaseTrader.com and call a LeaseTrader specialist. The Lease Trade specialist will help you transfer your car lease or help you get into a car lease with no money down and with a low monthly car payment on your car lease.

LeaseTrader Wheels and Deals For The Graduate

Dana Hunsinger — Thu, 14 May 2009 13:30:52 GMT

Wheels and deals for the graduate
In a season of incentives, this is one market segment that hasn't slowed down
By Dana Hunsinger

Every grad dreams of the ultimate gift: a new car.

These days, thanks to the sluggish economy, many are in luck.
Advertisement

With deals abounding on car lots -- including buy-one-get-one-free at the Hyundai dealer, Dodge employee pricing, cash rebates, zero-percent financing and no down payments -- if the kid has to have a car, now may be the time for parents to buy.

"This is as good as it gets," said Merle Bettenhausen, advertising manager with Ray Skillman Auto Centers, which has five locations. "It's as good as it's ever been."

The time was right for Mike McCall, whose daughter Madison received a new Jeep Liberty after graduating from Ball State University. With all the deals combined, McCall estimates he saved $8,000 to $9,000.

"It was very fortuitous that the timing fell when it did," said Mike McCall, Carmel.

Madison McCall is ecstatic over her new wheels.

"I've been looking forward to it for a very long time," said the business major.

Not all grads, of course, are lucky enough to get the dream gift. But in the middle of a recession, just when you would expect car buying for graduation to be down, some dealers say it is picking up.

Even at lots where sales have not risen, people purchasing cars for grads have helped the bottom line.

"I wouldn't say there has been a big increase, but there certainly has not been a decrease," said Rick Haeick, Internet sales manager at Champion Chrysler Jeep Dodge on West 96th Street.

Perhaps even more popular than a new car for the grad is the purchase of a used car or taking over a lease.

LeaseTrader.com saw a 16 percent increase in March and April for its lease takeover program, compared with the same months a year ago. One of the major reasons customers indicated they were leasing was for a graduation gift, said John Sternal, a vice president at LeaseTrader.

"Not every dealer offers big incentives with no down payments, plus you have to qualify for them," said Sternal.

At LeaseTrader, a buyer who wants no down payment and a short-term lease takes over the car from a person who needs to get out of the contract.

"You are able to get a car still in very good condition under warranty with no down payment," Sternal said.

The most popular car this graduation season has been the Mini Cooper. But Honda Civic and Toyota Camry ranked at the top of Forbes .com's list for best cars for college grads.

Jane Smeltz, who lives on the Westside, has been searching on the Internet and at used car lots to buy a Civic for her son, who will graduate from high school in a few weeks. She has held off because "every time I turn around, it seems like a better deal is being thrown out there."

"At some point I'm just going to have to take the plunge," she said. "I don't want the deals to dry up before I buy it."

Lease Trade Websites Are The Future

James Tate — Thu, 07 May 2009 13:59:33 GMT

Lease-Swapping Websites - Feature

Desperately seeking deal: Lease swapping makes great sense in a troubled economy.

BY JAMES TATE
June 2009

Leasing is pretty much a tactful way of saying, “I’m driving a car I can’t afford to buy,” but without having to swallow your pride. It makes for a great show, but when all is said and done, you own nothing. Hence, lease rates are carefully crafted to be attractive in the short term while not enticing enough to deter potential buyers from the benefits of new-car ownership. If you have the means, it’s almost always better to buy as you end up owning the car. But that delicate balance was shaken when automakers (and creditors alike) were making something of a last-ditch attempt to combat a collapsing economy a few years back. Leases were absurdly cheap, and even if your credit was bad, you were in.

But as sweet as leasing was a few years ago, there are even sweeter pickings today. The same slumping economy that brought those great deals has served to cripple many of the drivers who capitalized on them. And when it comes to dumping a suddenly unaffordable monthly burden, there are a couple of new stops that come right before the repo man. Websites such as leasetrader.com and swapalease.com list leased vehicles of owners looking to sell their leases.

Picking up a lease at a scandalously low yesteryear rate has never been easier (or possible). On top of locking in the original rate, you’ll typically benefit from a cash incentive, as opposed to the usual down payment. And you’ve now got the car for less than a full lease term—say, six months—so theoretically, you have a different new(ish) car at least every year, further capitalizing on the big benefit of leasing. Finally, it will almost certainly be easier to return the car at the end of term than to sell a car you’d purchased.

Searching the listings is free, but a membership (about $40 for two months at either website) and an additional fee ($150 at leasetrader.com, varying amounts at swapalease.com) are required in order to transfer a lease agreement. At the time of this writing, we found a black-on-black 2007 BMW 328i for $349 per month on swapalease.com, and that included an allowance of more than 1500 miles for each of the remaining 19 months. Or maybe you want something with a little more oomph, say, a 2007 335i for $500 a month? The one we found in three minutes of searching had every conceivable option and was good for well over 1000 miles a month.
So maybe you should lease your next car. Check that—you should lease someone else’s leased car.
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Savvy Sightings

Judi Rothenberg — Wed, 08 Apr 2009 14:17:35 GMT

LeaseTrader in NJ Savvy and is the wheel deal of the year. LeaseTrader easily transfers BMW, Mercedes, Lexus, Range Rover, Toyota, etc... leases from one car lease owner to transfer to someone else. This spring is starting off warm and breezy and transferring into a BMW car lease convertible, Infiniti car lease convertible, Cadillac car lease convertible, and Mazda car lease convertible.

LeaseTrader Takes The Sting out of Leasing

Martha Hindes — Mon, 06 Apr 2009 20:30:22 GMT

Miami, Florida-based LeaseTrader.com is taking the sting out of leasing. Buyers are pre-qualified in advance. Once the initial approval is given, a prospective buyer pays a $39 fee for a two-month membership that allows them to make an unlimited amount of offers to potential sellers. When a deal is struck, Lease Trader charges each party $149 transfer fee and provides a lease-transfer specialist to help facilitate the transfer.

Online auto lease-swap market grows

DEE DePASS — Wed, 01 Apr 2009 16:13:48 GMT

At sites such as LeaseTrader.com, lease swaps swell in popularity as one driver's liability becomes another's new car. LeaseTrader.com has seen a 30 percent increase of customers looking to cut financial expenses and get out of BMW and Mercedes leases. In Minnesota, we're seeing a 38 percent increase for the same reasons along with a increase in job loss trends

By DEE DePASS, Star Tribune

When Hollywood scriptwriter Scott Nimerfro needed a car to bridge stints between his job in Los Angeles and his home in Cottage Grove, he didn't bother cruising car lots. Instead, he went to LeaseTrader.com and took over the remaining lease on a 2008 BMW from a total stranger.

The short two-year lease gave him the snazzy car he craved without a long term financial commitment.

As the recession stubbornly digs in, Nimerfro is on the cusp of a rising trend. The trading of car leases is growing in popularity as more lease holders opt to exit contracts because of job losses, salary cuts and general cost cutting, say online service firms such as LeaseTrader.com and swapalease.com, which match trading partners on the Internet for a fee.

"In the fourth quarter of 2007, the No. 1 reason people were getting out of a Car Lease is because of a mortgage situation. Today, the No. 1 reason is because of job loss," said John Sternal, marketing vice president for the Miami-based LeaseTrader.com.

With the nation's unemployment rate spiraling to 8.1 percent and monthly lease payments averaging $620 last year and $570 this year on mostly luxury cars, people are gunning for relief.

According to CNW Marketing Research Inc., Americans leased about 9 million cars last year -- about 19 percent of new car deliveries -- with leases averaging 39 to 48 months. For some, that's just too expensive in this time of economic crisis, said CNW researcher Art Spinella.

"We have found that most of the people who are swapping auto leases would prefer not to," Spinella said. Yet lease swapping "has doubled and the people who use [an online service] for the most part are pretty happy with it. It's easier to find. Four years ago, it was impossible to find them."

LeaseTrader spokesman Evan Sneider said, "We did 20,000 transactions nationwide in 2006, 35,000 in 2007 and we exceeded 45,000 in 2008. This year we are tracking to be above where we were last year."

LeaseTraders's online lease postings jumped about 30 percent last year nationwide. Minnesota saw "a 38 percent increase compared to a year ago," Sneider said.

Economists note that the trend is not surprising, given that 18,500 Minnesotans lost their jobs in January and another 13,300 in February. Many people are racing to cut expenses and so gladly forfeit their leases. At the same time, short-term leases are still attractive to those with secure jobs. Those coveting fancy cars can get their wish without the need to plop down a huge down payment. And some trades comes with carrots: financial incentives to entice takers. Combined, all these factors fuel the trend, industry officials note.

Swap carefully

Parties frequently work out special arrangements between themselves once they connect. Incentive payments are not uncommon because they entice people to take over existing leases, said Scot Hall, executive vice president of operations for Swapalease.com, the Cincinnati-based firm that charges $50 to $150 to list vehicles on its website.

He cautioned leaseholders to recognize that they must obey all lease-swapping terms set up by the lenders and auto manufacturers that actually own the vehicles. Most of these companies charge a fee to change the names on the lease papers. Hall said he has found that a few online swapping services claim they can circumvent such fees. But he suggested caution. If leaseholders don't properly follow the terms of their contracts, they can breach their contract and may end up in a legal quagmire.

Steve Lovell said he has no regrets. "The service worked well and the end result is that we are in a better situation for our family."

About 13 months ago, Lovell leased a 2008 BMW 328 Xi for three years, but he soon realized he only drove the car about 6 miles a day. Meanwhile his wife, two kids and dog were piling into a seven-year-old car with 90,000 miles. "As much as it pains to let the BMW go, you swallow hard and you do the right thing. It worked out," Lovell said.

After a buddy told him about the website, Lovell logged onto LeaseTrader.com and paid $79 to list the leased BMW on the website with pictures. He waited.

Two weeks later, he got an e-mail from Nimerfro saying he would like to take over the $500-a-month lease.

Nimerfro and his wife tried for months to be a one-car household after his old Car Lease expired and he returned the car. With three kids, one car soon became old. "We thought ... that we could be really green," said Nimerfro, one of the screenwriters of the TV-series "Pushing Daisies." "But I found myself getting stuck home when I had a meeting. For a minute you think you really can do it and can ride a bike. And then you think, 'Hey it's winter. I'm not riding my bike.'"

So he logged into the website, liked what he saw and paid LeaseTrader $150 to have his credit checked. Days later, he assumed the lease and is thrilled to have a nice car at his disposal.

"The website was pretty easy," Nimerfro said.

Aside from the fees to LeaseTrader, Lovell and Nimerfro decided to split a $500 lease assumption fee that BMW charged.

"The other guy just wanted to get out of the lease, so he agreed to pay half just so he could get out of the lease," Nimerfro said.