Sales of new SUVs and trucks have plummeted since the beginning of the year. However, the secondary market for SUV leases continues with strong demand mostly because of significant benefits through taking over someone's existing SUV lease.
LeaseTrader.com reports a 24 percent increase in SUV transactions. While many of these people exit their lease to downsize their vehicle, there continues to be strong demand to take over SUV leases as well—four times as many buyers, in fact. Everything from short-term leases to low monthly payments make these leases extremely attractive for people shopping for a vehicle.
"Similar to what you're seeing in the housing market, many people are taking advantage of lower prices on trucks and SUVs through lease transfer," said Sergio Stiberman, CEO of LeaseTrader.com. "Many consumers are willing to cope with the price of gas knowing that they only have a short-term commitment, no money down and lower monthly payments compared to shopping at a dealer."
Many LeaseTrader.com customers appreciate the fact that they can get a short-term lease, which is financially appealing in today's current economy, the company reports. Consumers find it easier to project their monthly car payments for a shorter term, compared with 72-, 84- and even 96-month financing, which is readily available at most car dealers.
LeaseTrader.com facilitates automobile lease transfers and easily and affordably matches car shoppers with drivers wanting out of their leased vehicle. Visit http://leasetrader.com, or call (800) 770-0207.