ONLINE MEDIA

LeaseTrader Survey Says: Ford Escape Hybrid this summer’s most coveted vehicle

David Menzies — Fri, 26 Jun 2009 18:25:23 GMT

Who’d have thunk it? The Ford Escape Hybrid is this summer’s most coveted recreation vehicle.

At least, that’s one of the conclusions drawn from a new survey commissioned by www.leasetrader.com.

LeaseTrader recently asked more than 1,500 participants what recreation vehicle they’d prefer to acquire this solstice. The number one choice was the Escape Hybrid, followed by the Volkswagen Tiguan and the Mazda CX-7.

Call it the “Goldilocks Factor”: the top three choices are neither econoboxes nor Fat Bastard SUVs. While the Escape is an SUV, it’s certainly no Expedition. Meanwhile, the Tiguan and CX-7 are more diminutive than the Touareg and CX-9 respectively.

Surely the Escape’s ascent as top dog on the list is yet another telltale sign of a wonky economy and spiking gas prices as consumers rationalize their vehicle preferences. “Living large” has apparently been eclipsed by “medium motoring.”

LeaseTrader spokesman John Sternal admits the Escape Hybrid is “not the first vehicle you’d think of” in terms of being a must-have set of wheels. But he notes the Escape does embody a fair degree of utility; it’s relatively affordable; and it’s good on gas thanks to its dual-mode powerplant. As such, the Escape Hybrid offers that trifecta many car consumers are coveting these days.

Still, how times have changed! When the same survey was conducted two years ago by LeaseTrader, the results were radically different. The most coveted car in the summer of 2007 was any vehicle with a BMW logo on the hood.

Meanwhile, the most appealing convertible in 2007 was the Mercedes-Benz CLK; this year, the Mini Cooper ragtop snags top honours. Sternal says this result is likely due to an increase in bottom line due diligence during uncertain times: a Mini at about $400/month is far more doable than a CLK at about $700/month.

The bright side: even a downscaled vehicle still beats public transit.

America's Summer Vacations: Tight Budgets and Ford Hybrids

Jim Motavalli — Fri, 26 Jun 2009 18:22:40 GMT

The summer driving season has started, and vacation planning is underway. From the results of a new poll, it looks like Americans will be driving to their destinations in smaller cars and trucks, and they’ll be camping, fishing and backpacking locally instead of skiing at Gstaad and staying in luxury hotels.

LeaseTrader.com polled 1,500 consumers about their plans in its Summertime Vehicle Recreation Survey, and one of the more intriguing findings was that the Ford Escape Hybrid is the car most frequently cited as vacation transportation.

According to John Sternal, a LeaseTrader vice president, the Escape Hybrid “is not a very expensive vehicle in its category, and people are really paying attention to sticker price. And it certainly has not only high fuel economy numbers but also a lot of room for people to pack in their recreational gear.”

Other cars frequently cited are the Volkswagen Tiguan SUV (a step down from the big Touareg) and the Mazda CX-9, which Sternal cites as a “dependable, quality crossover.” The poll results square with a public souring on large, gas-guzzling body-on-truck-frame SUVs. And the numbers show a majority, 63 percentm moving to vehicles that are 10 to 20 percent less expensive than what they would normally have spent.

“The recession is definitely a factor and people are cutting back,” Sternal said. “Options are narrowing, and foreign golf vacations or trips to the Caribbean are not as attractive anymore.”

Some people are probably just staying home. A Deloitte survey predicts that 64 percent of Americans will take some form of summer vacation, but an AP-GfK poll was much less optimistic, estimating that only 42 percent would take a leisure trip this summer, down from 49 percent cited in a similar May 2005 poll.

LeaseTrader’s business, passing on what are often distressed car leases to third parties through the Internet, is booming in the recession. Sternal said the firm helped facilitate 40,000 leases in 2008, and is on track for 60,000 this year. “A lot of that is being driven by economic conditions,” Sternal said.

According to LeaseTrader CEO Sergio Stiberman, “Taking over an existing vehicle lease helps people be mindful of changing family budgets and lets them still enjoy summer with a fun car.”

Not having a down payment or interminable lease periods certainly helps. In the survey, respondents expressed a preference for a lease with only six to 10 months remaining.

In a tight market, big demand for LeaseTrader.com cars

Jenn Abelson — Fri, 05 Jun 2009 12:58:25 GMT

Shortage of inventory has dealers scrambling

RAYNHAM - Drivers are snatching up an increasingly limited supply of used vehicles at some of the highest prices in years, even as auto dealers struggle to unload new cars.

Americans purchased nearly 4 million used cars in May, jumping 23 percent over the previous month, according to CNW Research. That comes as sales of new cars have plunged roughly 34 percent, despite sweetened incentives and cash-back offers. Meanwhile, the average transaction price for a used car hit $10,156 in April, the highest price since 2005, CNW Research reported this week.

Across the country, auto dealers are confronting a shortage of used cars and scrambling to increase trade-in incentives, scour online car listings, and engage in bidding wars at auction. The supply of used cars, particularly newer models, has dwindled recently because of a confluence of factors: consumers are not buying new autos and trading in old ones; the number of repossessions is waning; and rental companies, which usually provide a large inventory of used cars, are holding onto their vehicles longer.

"We have to travel farther, spend more time, and invest more resources to get these used cars," said Adam Silverleib, vice president of Silko Honda in Raynham, where used car sales are up 15 percent this year. "It's costing us 10 to 20 percent more to get used cars. And less than 5 percent of that is passed on to consumers because otherwise the used cars would wind up competing with the new cars. So we're seeing less profit."

Indeed, Silko Honda recently sent out a flier to customers advertising new cars, with the promotion: "Right now Silko Honda is actually selling new Hondas for less than used."

The flier features a 2009 Honda Accord LX for $18,898 and lists the Kelley Blue Book value for the 2008 model (with 10,000 miles) as $22,095. A 2009 Honda Pilot EX is priced at $27,943 and the Kelley Blue Book value for the 2008 model (with 10,000 miles) is listed at $30,420. Silverleib said the intent of the mailing was not only to sell new cars, but to add to the used car inventory with the trade-ins people would make.

But those deals were not enough to lure Ray Milewski into a buying a new car. The 60-year-old retired three weeks ago from his job as a Florida real estate agent and moved to Massachusetts without a car. He showed up at Silko Honda on Wednesday and purchased a used vehicle - a 2007 Honda Accord with 31,000 miles for around $15,000. Silverleib said the price is about 10 percent higher compared to a similar transaction a year ago. He said a new car would have been around $23,225.

"I always bought new cars and ran them into the ground," Milewski said. "But the depreciation of a new vehicle is huge. And now I'm retired and times are changing."

The tight lending markets and recession have made used cars a more appealing option for some consumers. And the switch is even easier for drivers accustomed to new cars because dealerships like Silko are offering lifetime warranties.

Kelly Auto Group, which has about six dealerships, has offered customers more than Blue Book value to get trade-in vehicles and has bought more cars out of classified listings and off-lease vehicles to fill in the gaps, according to Lew Goldstein, director of operations.

"There wasn't enough profit margin for these cars in the past," Goldstein said. "But we've changed our standards."

Goldstein said each dealership typically keeps about $1 million worth of used car inventory, but the supply is down between 15 and 20 percent.

There is also a pent-up demand for leasing used vehicles, according to John Sternal, a spokesman for LeaseTrader.com, a nationwide online marketplace for Car Lease transfers. The company, which reported an 11 percent increase in demand during the first three months of the year, expects to handle about 60,000 transactions in 2009, up from 45,000 transactions in 2008. It currently has a waiting list for customers looking to take over leases, but Sternal would not disclose specifics.

"People see the great financial benefits through taking over an existing lease. There is no down payment involved. And since you are picking up only what's left on the lease contract, you're not making a financial commitment for a long time," Sternal said.

Tom Kontos, a car analyst with ADESA Auctions, which runs car auctions nationwide, said he expects the used auto market to get even tighter as rental agencies continue to tighten their inventory and the number of people coming off leases declines. Moreover, some owners of dealerships about to be closed by GM and Chrysler are planning to become independent used car dealerships, which would increase the competition for these vehicles and potentially push up prices even further.

A Big Waiting List for Chryslers at LeaseTrader.com

Jim Motavalli — Thu, 28 May 2009 19:46:30 GMT

According to the New York Times, as Chrysler emerges from Chapter 11 it “will be competing in a brutal marketplace that may make bankruptcy court seem, by comparison, like a refuge.” Shoppers, it added, “are steering clear of Chrysler showrooms.”

But can you believe there are 1,300 motorists waiting in line for Chrysler products? And it’s not in an alternate universe, but at LeaseTrader.com. In a system not unlike online dating, the company matches up would-be lease-holders with people, some of them distressed by the current economy, looking to get out of their current leases. As you might expect given the company’s unique niche, business is up. Way up. And LeaseTrader says there are plenty of Chrysler fans in that environment.

“They’re saying that nobody wants Chryslers, but what we’re seeing is that it’s a proud brand,” says John Sternal, a company vice president. “It’s sad to see what’s happening to Chrysler, but it’s still an American icon, and a lot of people are loyal to the brand.”

Miami-based LeaseTrader is 10 years old and privately held, but the company does disclose the number of leases it handles. In 2006, it processed 20,000 leases; in 2007, 35,000; in 2008, 45,000; and it projects 55,000 this year. It has 20,000 to 25,000 leases in inventory.

LeaseTrader points out that Chrysler canceled its own lease program last August, and that “many people don’t like the other financing options.” According to Sternal, “Some of our lease sellers just want another car, but others could be said to be distressed—they’ve been severely affected by the economy.”

The economics works this way: A lease-holder looking to escape pays $79 to have his or her listing online, with a photo and write-up on the car. If there’s a match, another $150 transfer fee is due. For buyers, there’s a $39 membership fee (which covers the cost of a credit check) and allows the user to communicate with vendors. When they find a car, a $150 fee is assessed. Of course, you can also just break your lease, which means paying it off at an average cost of $9,000 to $10,000.

LeaseTrader is a national service so you may be in Denver and the car in Massachusetts. In that case, LeaseTrader.com can hook you up with a traveling inspection service, or arrange to have the car shipped. You could say they get you coming and going.

Make your vehicle the ultimate "IT" accessory

Irene Seiberling — Wed, 27 May 2009 21:42:30 GMT

LeaseTrader.com paired up with style expert and television personality, Daisy Lewellyn – The Queen of Effortless Chic – to match today’s hottest styles with the ultimate “It” accessory – your vehicle.

“Today’s popular styles are always evolving to reflect different tastes,” says Lewellyn. “Cars are no longer only boy toys. LeaseTrader helps turn your car into the ultimate accessory and embrace your style moments from season to season.”

Style and Vehicle Pairings:

• Amanda, The Green Glam Goddess: Going green is beyond a trend; it has now become a fashionable way of life. This style is all about organically grown and nurtured wide-leg trouser jeans with a fantastic day-to-night clutch filled with loads of green goodies. Vehicle pairing: Driftwood Pearl Toyota Prius.

• Anastasia, The Social Factor: This socialite is known for appearing at all evening events drenched head to toe in her estate jewels stepping out in fall’s latest and greatest. Jewel-toned floor-length gowns, polished in black on black, and metallic moments are definitely required for her social lineup. Vehicle pairing: Over-sized Carbon Black Metallic Denali.

• Chloe, The Love Child: Chloe’s bohemian rhapsody wraps her in fall’s hippest, coolest trends that unite girls that reign as the greatest looking gypsies, hippies and stylenistas. Flowery printed chiffons and long tresses with layered bangs are must haves for this Love Child. Vehicle pairing: Palladium Silver Metallic Mercedes SL 500 convertible.

• Lola, Petal to the Metal: Always in love with anything printed with a flower petal, it’s time to put Lola’s petal to the metal in her deep-colored floral pencil skirt and cashmere-fitted solid turtleneck. And for day looks, Lola opts for her classic belted trench in khaki, with a screamingly wild fall floral lining. Vehicle pairing: Montego Blue Metallic BMW X3.

If you want a different vehicle to match the latest styles, www.leasetrader.com can help you exchange your current lease for a different vehicle. For advice on anything related to the fashion world, seek Daisy’s assistance at www.daisylewellyn.com .

Save Money by Dumping Dud Deals with LeaseTrader.com

Dayana Yochim — Wed, 27 May 2009 19:05:10 GMT

Back when houses were making money hand over fist and everyone looked like a stock market genius, who had time to read all the fine print on that other stuff -- you know, like cell phone contracts and Car Lease clauses?

Now that the real estate section of the newspaper reads like the obituaries and even the mailman is reluctant to deliver those quarterly brokerage and retirement account statements, it's time to deal with those money maladies that you could afford to let slide when times were better. Here are four fixes for a few of the biggies.

Stop life-insurance premiums from driving you to an early grave
Escaping the shackles of a shoddy life-insurance policy before your contract is up can be a snap -- so long as we're talking about term insurance. Simply cancel your policy, and stop paying premiums.

If, on the other hand, you hold a policy that offers permanent coverage, your punishment for early cancellation is a nasty surrender charge. These fees can be brutal -- not budging for years and costing up to 10% of the policy's payoff value. Thus, many people simply stop paying their premiums and kiss whatever money they've paid into the policy goodbye.

For those who haven't built up any cash value, a cut-and-run approach may be the soundest exit strategy. But if you've had the policy for 10 or 15 years and have built up a decent amount in cash value, bail out by either transferring into a low-cost annuity with a 1035 exchange or converting to a paid-up term insurance policy tax-free with your current company. But don't get sweet-talked into another high-fee product, and make sure you're eligible for a replacement term policy.

Hang up on a dud cell-phone contract
That snazzy phone you got for free makes a pricey paperweight if the service contract turns out to be a bad fit. I don't blame you for considering tin cans and a ball of twine, especially when faced with $175 to $250 in early termination fees -- for each phone, if you have a family plan! Get out your reading glasses, and cozy up to your contract.

Look for the "materially adverse change" clause, which allows customers an early no-fee exit when the carrier changes terms -- say, for example, it adds administrative fees or increases its texting charges. The catch is that you have only 14 to 30 days to bail. If that window has closed, head to Celltradeusa.com to swap out of your contract. Registration is free, and unlimited access to potential buyers is $19.99 -- good until you finally unload that contract.

Put the brakes on a crummy Car Lease
If you're getting taken for a ride in a pricey Car Lease, stop watching the odometer and head to LeaseTrader.com or Swapalease.com. These services match you up with someone who will take on your auto albatross and thus steer you clear of pricey termination fees. Paying a few hundred dollars to hand over the keys sure beats the alternative of shelling out $300 to $400 in dealer disposition costs and having to pay the remaining contract in one lump sum.

Dump that overpriced, underperforming annuity
If you own an annuity and its return is severely lagging its benchmark (e.g., a fixed annuity versus a bond index)? Or is the company behind your annuity looking a little sickly? It might be time to plan an exit strategy.

Since dumping an annuity early triggers surrender charges, the longer you wait to bail, the less you'll pay in penalties. In the meantime, consider partial annual withdrawals (e.g., 10% per year), which some institutions allow sans surrender fees.

If you're 59-1/2 or younger (you look great to me, by the way), avoid the tax consequences of cashing out -- both deferred income taxes and that brutal 10% gains penalty -- by making a 1035 exchange into a lower-cost annuity (try Vanguard, Fidelity, and T. Rowe Price). You'll still pay surrender charges, but you'll avoid triggering a taxable event. Just make sure the company to which you're moving your money handles the transfer.

Another bonus: You'll save buckets in fees. For example, the Vanguard Variable Annuity has relatively low mortality and expense charges as well as low fees on the funds within its plans. You could make up the surrender charges on your existing annuity in a hurry, which makes parting ways much less painful.

If you're worried about the company's solvency, you do have some insurance on your investment -- from $100,000 to $500,000, depending on where you live -- via your state's guaranty association. Here's more about the good, bad and ugly of annuities.

How to Trade Your Auto Lease

Brian O'Connell — Tue, 26 May 2009 13:10:43 GMT

How to Trade Your Auto Lease

With more and more Americans in tough financial straits, a growing cottage industry has developed around an unlikely market – the auto lease “swap” sector.
It’s not an unusual premise. People who lose their jobs or suffer a medical calamity, just to name two instances, need to cut expenses fast. One way to do that, if you lease a car, is to find another buyer to assume your lease.

These days, it’s not as difficult as it sounds. Companies like LeaseTrader.com or Swapalease.com act as brokers who, after taking a hefty fee of up to $250 or so, will get you out of an onerous lease, saving you from early termination penalties and any remaining payments.

So how do you get in on the swap? First, review your lease documentation thoroughly to check and see if it allows transfers. If the contract isn’t clear, pick up the phone and call your auto lease company and ask (chances are they’ll go for it, as long as the lease buyer has good credit).

A note of caution: your lease contract may allow you to swap, but it may hold you responsible if your lease buyer defaults on the contract or if he or she damages the car. Get that “out” clause in writing before you agree to a swap, and you’ll have to get your Car Lease company’s approval if the contract doesn’t make it clear whether you can engage in a swap or not.

To get started with a swap, go online and check out the afore-mentioned Swapalease.com or LeaseTrader.com and list your vehicle data and any pertinent contract information. The web site then flashes your lease information across the Internet, presumably to folks interested in getting a good lease takeover deal. Swap companies will contact you as interested buyers pop up, and help you handle the swap details, all from the comfort of your home.

When you get into the auto lease swap market, you won’t be alone. According to figures from LeaseTrader.com, the company handled 45,000 lease swaps in 2008 -- that’s up from 20,000 in 2006.

In tough economic times, a big monthly lease payment may be more trouble than it’s worth. But with auto lease swaps, now you can do something about it.

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."

The LeaseTrader Switch

Andrea Coombs — Thu, 14 May 2009 12:55:44 GMT

With home foreclosure rates rising and economic volatility the norm, it's easy to understand why more people might want to get out from under a $400-per-month Car Lease that stretches on for two or three years more.

Companies such as LeaseTrader.com and Swapalease.com offer such services, connecting people who want to get out of a lease with those eager to get a deal on a short-term arrangement, but consumers should proceed carefully before paying hundreds of dollars for a lease transfer.

The idea of escaping a lease is gaining in popularity. LeaseTrader.com says it expects to handle 35,000 transactions this year, up from about 20,000 in 2006.

"Since the auto payment is typically consumers' second-highest monthly bill, if you can't control your mortgage from going up, this is certainly an excellent way of controlling" monthly expenses, said John Sternal, spokesman for Miami, Fla.-based LeaseTrader.com.

Some consumers might be trying to rein in their monthly budget: Smaller cars are gaining favor among those seeking lease vehicles, with about 15% of prospective buyers on LeaseTrader.com seeking a small car, up from 2% a year ago, Sternal said.

Lease-transfer services help consumers get out of contracts that are otherwise pricey to exit. Generally, if you try to end your lease rather than transferring it, you pay the total remaining monthly payments due.

"When a person wants to get out of a lease, it's difficult and very expensive," said Philip Reed, senior consumer advice editor with Edmunds.com. "Essentially you're being held responsible for all of the payments."

People on the buying end of a lease transfer enjoy benefits, too. "You don't have to pay a down payment, which in many cases is anywhere from $2,000 to $5,000, and you don't have to get strapped into a long-term lease," Sternal said.

In 2006, about 28% of new car sales were leases, according to the National Automobile Dealers Association, in McLean, Va.

But, while a lease transfer may sound appealing, consumers on both sides of the deal have homework to do. For instance, those trying to get out of a lease should confirm the finance company is willing to remove the original lease-holder's name from the contract.

Otherwise, the original lease-holder may still be liable for payments if the new "buyer" defaults or if the car is returned to the lease company with worse than normal wear-and-tear.

All in a name

"For the consumer, it's important to remember that you may still have responsibilities for the vehicle, particularly the vehicle's condition," said Paul Taylor, chief economist with the National Automobile Dealers Association. "The legal obligations are just not as simple as the old customer and the new customer would wish them to be," he said.

Others agreed. "It's your name on the contract. You need the permission of the financial institution that holds the lease to transfer that into somebody else's name," said Jack Nerad, executive market analyst with Kelley Blue Book, in Irvine, Calif.

Companies vary widely in their willingness to do lease transfers, and, if they are willing, that doesn't always mean they'll remove the original lease-holder's name.

For instance, Honda Finance prohibits lease transfers. "Our [lease] contracts do not allow trading," said Chris Martin, a spokesman with Honda. Of course, it's possible the lease on your Honda is through another finance company, and that company may allow transfers.

Chrysler Financial allows transfers, but doesn't remove the original lease-holder's name from the contract, said Amber Gowen, a company spokeswoman, in an e-mail message.

"The language of the lease agreement means that the original lessee is still responsible for living up to the agreement if the new party defaults," she said. Often, such lease transfers are between family members, Gowen said.

About 80% of finance companies allow a transfer with a new name on the lease, another 10% allow the transfer but don't remove the original name, and 10% don't permit transfers, said Scot Hall, executive vice president of operations with Swapalease.com, in Cincinnati, Ohio.

'Like a dating service'

Still, if you've confirmed your financial institution will allow you to transfer out, a lease transfer might make sense.

"You might be dealing with an adverse life situation, a death in the family or a loss of a job, and all of a sudden you are looking at a very severe financial situation," Reed said.

You can initiate a lease transfer on your own, without the help of an intermediary, if you can find a suitable buyer. That way you avoid the fees of the sites that offer to find lease buyers, though you don't escape the finance company's transfer fee which can range from zero to $650.

Of course, finding a willing and credit-worthy buyer is one of the sticking points these Web sites help you overcome.

"It's almost like a dating service. We match them up and then tell them, 'this is where you need to go to get this done correctly,'" said Hall, of Swapalease.com.

Homework, for buyers and sellers

The first step for consumers is confirming their lease company's policies with regard to transfers. "I can't stress enough that we only advocate going by the book of your leasing company. We don't want consumers on either side of the equation getting into any trouble," Hall said.

Then, there are the fees to consider. Both the buyer and seller pay fees for using Swapalease.com, LeaseTrader.com or similar services. The buyer and seller can negotiate who pays the finance company's transfer fee.

The lease listing sites charge a variety of fees, and consumers should check to assess which fees are refundable in the event you aren't able to complete a transaction, as not all listings result in a transfer. For example, lease transfers are initiated on about one-third of Swapalease.com listings, Hall said.

For sellers, Swapalease.com offers various packages, including one $49.95 for an indefinite listing with an added $95 one-time fee if a lease transfer is initiated (this fee is nonrefundable but if the transfer doesn't complete, that fee can be applied to another transfer), as well as other packages ranging from $99 to $150, depending on ad placement, with no transfer fee.

Buyers who go to Swapalease.com pay a one-time fee from about $35 to $80, depending on the length of membership and other factors.

At LeaseTrader.com, sellers pay about $79 to list their lease, plus $250 when a lease transfer is initiated, but there is a $100 rebate on that fee.

Buyers at LeaseTrader.com pay $39 to $79 - the price varies depending on how long you get access, plus other factors -- and about $150 when a lease transfer is initiated. At both sites, consumers can look at the listings for free.

Buyers beware

Buyers have homework, too. First, compare leases offered on similar models to assess what kind of deal you're getting, Reed said. He suggested LeaseCompare.com and manufacturers' Web sites as they often show lease offers. Edmunds.com also lists lease deals.

Be sure you're comparing total lease payments - some advertisements leave out the tax portion of payment, Reed said.

Verify the condition of the car by either looking at it yourself or hiring a mechanic or another third-party to do so. If the condition of the car does not meet the lease terms for regular wear-and-tear when you return the car, whoever is named on the lease will be forced to pay.

If you're buying a lease from a car owner in another state, ask the finance company whether the payment will change due do the new state's different tax rate.

Finally, assess whether leasing is the right move for you.

"A lot of people think leasing gives more flexibility than buying," Nerad said. "Buying a car gives you more flexibility."

If you own the car, you can simply sell, and if you still owe money on the loan, "there's a standard procedure" for handling that, Nerad said. "To get out of a lease, it becomes more of a one-off situation. You're at the mercy of ... the financial institution."

Meredith Libbey, a spokeswoman with Ford Motor Credit Company, agreed.

"With a lease," Libbey said, "we're the owner, so we have to agree to anything you do."

LeaseTrader.com Announces List of Top Driving Hazards & Challenges

Wed, 13 May 2009 13:04:17 GMT

LeaseTrader.com received feedback from more than 2,000 customers online and found the top 10 driving hazards/challenges that scare people the most. According to the results, escaping a submerged or sinking vehicle tops the list for almost half of those polled (41%).

LeaseTrader.com, the nationwide online marketplace for Car Lease transfers, set up the poll in an effort to raise awareness of National Car Care Month and help people become more prepared for hazards involved with driving. LeaseTrader.com asked customers to submit their biggest driving hazard/challenge, and then ranked the answers by volume of response. More than 2,000 customers responded with what they felt was their biggest worry when it comes to driving their vehicle.

"Hazards and other challenging situations are a daily occurrence when operating a vehicle, and it's important that drivers are as prepared as possible if and when they occur," said John Levine, customer advisor at LeaseTrader.com. "Many times these challenges can take place even if you're driving appropriately or if your vehicle is at rest."

Each year people get trapped swept away by floodwaters, in addition to accidents where people lose control of their vehicle and drive into a body of water. Experts say it's important to try and remain calm and lower your window to escape before the car is completely submerged. With motor-powered widows, the car will still have electricity for a minute or two even in salt water. Free yourself and then free any others also in the car with you.

Other top hazards/challenges according to the results:
Driving with a tire blow out (18%)
Driving in snow and ice (12%)
Changing a tire (11%)
Changing a blown fuse (6%)
Jump starting a vehicle (5%)
Changing your windshield wipers (3%)
Driving with a stick shift (2%)
Parallel parking (1%)
Checking tire pressure (1%)

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.