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GM takes on import giants with Chevrolet Cruze

General Motors is pitting its Chevrolet Cruze against tough competition in the nation's strongest import-car markets, and the American automaker says it is winning.

Cruze sales are on track to exceed 50,000 units for the first three months of 2011, about triple the vehicle lease rate for the Chevrolet Cobalt during the first quarter a year ago.

Much of that growth is coming from car leasing customers in California, New York and Florida, a coastal urban demographic that domestic car makers often lose to popular imports from Honda, Toyota and Hyundai.

The top reasons are exterior styling and fuel efficiency, GM says, citing a fuel rating of 36 miles per gallon on the highway for the Cruze LS, LT, and LTZ models, and 42 mpg for the Cruze Eco.

"With the all-new Cruze, we set out to build the best compact car on the market," Chevrolet Cruze marketing director Lisa Hutchinson said in a release. "The Cruze is priced to compete in the compact segment. But the Cruze offers the styling of a more expensive car, as well as more standard safety features than any other compact, and more miles per gallon with the Cruze Eco model. Clearly, that's a combination many customers can appreciate."

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Time Magazine

Websites like Swaplease.com have helped facilitate such transactions. You pay to dump a lease, but the price can be thousands less than you would owe if you turned the lease in early to a dealer. Meanwhile, buyers can pick up some sweet rides for hundreds less than their normal cost, with short-term contracts and no down payment.

USA Today

Consumers aren't limited to what's being offered on the auto lots. They can buy a car, or take over someone else's lease on Web sites like Swapalease.com, a popular site that act as matchmakers between buyers and sellers.

Wall Street Journal

Terminating a Car Lease

The problem:

Getting out of a cal lease early
The Solution:

Find someone to take over your lease through service such as Swapalease.com. The site charges a fee to post a listing, and say finding someone is easiest for leases with 24 months or less left.

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