03.05.06
Car Lease Transfer Services over the Web Can Grease Transfer of an Car Lease
When M. Simonne Hinkle went looking for a new car, she knew exactly what she wanted and how much she ought to pay. The trouble was, in nearly a year of looking, auto dealers were asking for a bigger down payment and monthly payments than she thought her dream wheels warranted.
But during one of her many Internet searches for the right make and model, the Los Angeles technology executive found an alternative — a car lease transfer service that matches customers like her with drivers who want to jettison their auto leases early.
Within a month, after working with Swapalease, she was the proud owner of the exact Mercedes CLK convertible she longed for — and for about $5,000 less than the best price she had been able to negotiate at a dealership.
Car leasing has gained popularity in the last decade, as about 1 in 4 auto shoppers take advantage of down payments and monthly installments that are typically lower than they would face if they were buying a comparably priced car or truck.
But what happens to drivers who fall out of love with their wheels? Or those who have a change in circumstances — losing their jobs, moving cross-country or finding that the two-seater no longer accommodates a growing family? That’s where lease transfer services come in.
Lease transfer services such as Auto Lease Busters, Swapalease and LeaseTrader and Lease Busters have sprung up in the late 1990s to provide a legal way out for drivers who might otherwise face stiff early-termination fees. The services, which are generally Web-based, advertise the vehicle and provide the information and paperwork necessary to legally transfer the lease from one buyer to the next.
That web based car lease transfer services approach has certainly paid off for many, including Clemente, who has left his Lexus in the rearview mirror and is a happier owner of a BMW X5 sport utility vehicle.
“My 2-year-old needed the space,” said Clemente, who has had seven cars in 10 years and has become an avid fan of lease transfer services. “This is a pretty amazing new thing. I’ve recommended it to friends.”