Interest in Taking over Car Leases on Swapalease.com Doubled in October
Media Contact:
Kristin Doidge
(513) 381-0100 x 1007
kdoidge@swapalease.com
CINCINNATI, Nov. 23, 2009
Demand for car lease takeovers has more than doubled in the month of October, reports Swapalease.com, the world’s largest auto lease marketplace. According to user data, people are now more than ever finding that assuming someone else’s in-process lease is a smart option, especially when down payment cash is difficult to come by.
The list of the most popular vehicles in the month of October includes what have become the “usual suspects” year-round on the popular lease transfer Web site including five BMW models, while the Cadillac Escalade gets a boost as buyers return to SUVs again. Interest in the reliable Honda Accord also increased.
Most Popular Vehicle Searches in October
- BMW 3 Series
- BMW 5 Series
- BMW X5 Series
- Mercedes-Benz E Class
- BMW M3
- BMW 7 Series
- Audi A4
- Porsche 911
- Cadillac Escalade
- Honda Accord
With the announcement of the highest unemployment rate in the U.S. in 26 years in October, consumers may still be feeling unsure of what their financial outlook may look like in the next few years. Taking over someone else’s car lease is a shorter term commitment than what is traditionally offered at a dealership and thus allows for more flexibility in a turbulent economic environment.
By assuming someone’s lease, the buyer takes advantage of the tax benefits and the original lessee’s down payment. The original lessee, on the other hand, gets to walk away hassle-free from their lease obligation.
"While we are hearing that the economy is recovering, the reality is many people are still struggling to pay their bills each month," says Scot Hall, EVP of Operations for Swapalease.com. "Our lease transfer marketplace is the place where people come to help one another out resulting in a win-win solution for both parties involved."
About Swapalease.com:
Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online using a patented process. First conceptualized in 1997, Swapalease.com has evolved into the leading automotive consumer online destination servicing all aspects of the automotive leasing lifecycle and provides programs (including new leases and for sale vehicles) for both consumers and dealers in the U.S. and Canada. The company is headquartered in Cincinnati, Ohio. For more information, call 866-SWAP-NOW or visit www.swapalease.com.
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