Swapalease Opens Columbus Office

    COLUMBUS, Ohio--Jan. 23, 2003--After tripling its business in a national expansion over the past year, Swapalease.com, America's largest lease assumption marketplace, has opened a second office in Columbus, Ohio and brought on an Internet industry key executive.
    Wil Schroter, former Founder and CEO of Blue Diesel Interactive, joins Swapalease as CEO. Schroter is responsible for the rapid expansion of the business nationally.
    An early pioneer of Internet-based businesses, Schroter founded Blue Diesel in 1995 which became one of the leading interactive advertising agencies in the country, servicing top tier clients such as Best Buy, BMW, Bank One and Eli Lilly. His leadership earned him Young Entrepreneur of the Year by the Small Business Administration and also recognition by Ernst and Young's Entrepreneur of the Year program.
    "We are incredibly excited to have Wil on board," explained Ron Joseph, Jr., Founder of Swapalease.com. "His deep understanding of both marketing and business building, allows us to scale our business quickly and look out far ahead of our competition."
    Schroter has opened the Columbus office of Swapalease.com, located within the Business Technology Center at 1275 Kinnear Road. The Columbus team includes sales, marketing, and development personnel.
    "The model for Swapalease.com is very powerful," said Mr. Schroter. "We're taking the whole concept of vehicle leasing to the next level. Our marketplace is allowing almost anyone to drive what they want, when they want, without the hassle of being tied to a financial commitment for the life of their lease. There are many people who would rather drive something else if they knew they could. This market is enormous."
    Swapalease.com has enjoyed overwhelming success with its Lease Assumption Marketplace. Thousands of buyers and sellers have used the service to find great deals on vehicle leases and to exit existing leases.

    Company History

    The company was launched in 2000 by Ron and Richard Joseph, owners of the Joseph Auto Group, a $570MM automotive dealership network based in Cincinnati. The Joseph Auto Group, well known and highly respected in the automotive industry, has provided a solid foundation for the company in its market understanding and initial capitalization.
    Since inception, Swapalease.com has served thousands of customers looking to exit their lease. The service allows consumers to list late-model vehicle leases on their Web site, which are available to a national audience of buyers. Buyers can browse through thousands of vehicle listings and choose which vehicle lease they would like to assume. Assumed leases are often available with no money down and with a reduced term at a lower payment, and sometimes with a cash incentive. Swapalease provides both the on-line marketplace for managing these transactions as well as the personnel to guide both parties through the lease assumption process.

    Contact Information

    For inquiries please contact Wil Schroter at (614) 340-1859 or info@swapalease.com.