MIAMI – LeaseTrader.com, the nationwide online marketplace for car lease transfers, today launched its Nationwide Car Lease Bailout Program, which is designed to help American families cut their bills by giving them the option of escaping a car lease contract they can no longer afford or need.
Through the program, LeaseTrader.com is committed to working with anyone that wants to cut their bills by escaping their lease without having to break the contract and pay the hefty early termination penalties. Drivers may qualify for LeaseTrader.com’
The Nationwide Car Lease Bailout Program works in concert with LeaseTrader.com’
“The average U.S. family’s monthly car bill is typically the second largest expenditure behind their mortgage,” said Dr. Helen Simon, finance professor at Florida International University. “This LeaseTrader.com program gives Americans the chance to drastically cut their monthly car payment and lower their bills during a time when we all face economic challenges.”
When exiting a lease, automotive dealers give people only two options when they can’t afford their existing lease: 1) pay off the balance or 2) roll the negative equity into a new car. Both situations are financially impossible for many families in today’s economy.
LeaseTrader.com instead gives people the option to transfer their lease to a credit-qualified individual so they can walk away from the contract. The transfer process takes an average of 2-3 weeks to complete, and currently there are three times as many people looking to take over lease contracts – a benefit to someone wanting out of their lease. The service costs just $79 to list a vehicle followed by a $149 transfer fee.
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.
