Gas Prices Making Car Owners Think Twice

CINCINNATI--June 7, 2011: Gas for $3.89 a gallon: a bargain worthy of turning the car around and filling up. With gas prices remaining well above $4 for the foreseeable future, keeping the car full is an expense similar to housing for many.

Sticker shock at the pump is causing auto owners to look closely at their vehicle and potential purchases. Many are considering more gas-efficient models and hybrids, which are rapidly gaining popularity. Autodata found that February sales of Toyota's Prius rose 69.9% over February 2010 sales, with Honda's Civic Hybrid seeing a 58.3% increase. And General Motors sells every Volt long-range electric vehicle it can produce.

As the popularity of these cars increases, so do prices. At the same time, prices at the pump aren't budging. How can you save money?

Consider leasing. Leasing, whether it's a fuel-efficient model, a hybrid or even an SUV, keeps your car payment manageable and frees up cash. While leasing's popularity declined steeply during the economic downturn, it's now on a major upswing, with nearly a quarter of car shoppers choosing to lease. The main advantage of leasing is that you are only paying for the pre-set amount of time you will be using the vehicle, which keeps monthly payments lower and gets the consumer more car for the buck.

"Another excellent option for many consumers is lease assumption.  Through sites like www.swapalease.com, people can take over a lease from individuals looking to get out of their lease.  Swapalease began seeing a surge in interest in fuel-efficient vehicles among our users as soon as gas began its climb towards $4 per gallon," says Richard Joseph, president of Swapalease .

As people continue to feel the crunch of the economy and increased prices of gas, food and other necessities, automakers are making leasing options more attractive. New developments include shorter lease contracts (as low as 24 months); a wider variety of compact cars available for leasing; and lower interest rates.

While there are many things to consider when choosing to lease, check Swapalease , the first and only full-service online marketplace of in-process vehicle leases. With the goal of matching individuals who are currently leasing vehicles they wish to get out of, with individuals who are looking for short-term leases with attractive payments and no money down, it's the perfect way to find the perfect vehicle for you.