LeaseTrader.com Sees Expedited Sales Cycle From Cash For Clunkers

Popular Incentives & Lease Transfer Help Create Quicker Inventory Turnover

MIAMI, Aug. 4 -- "Cash For Clunkers" has provided a much-needed jolt to the U.S. economy since bigger-than-expected sales will mean more car production from manufacturers and raw materials producers. Similar to what the car lease transfer industry has witnessed all along, an expedited sales cycle will do wonders for the auto industry.

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Economists believe the Cash For Clunkers program will be a main driver in third quarter GDP numbers trending slightly higher than originally forecast. The belief is that consumers would have had to eventually trade in their old vehicle but incentives are a leading reason to do so today rather than tomorrow. LeaseTrader.com believes similarities exist when drivers transfer out of their lease early before the contract expires. This year the company has seen 43 percent more drivers use the program to escape a lease contract early then immediately shop for a more fuel-efficient vehicle.

"All kinds of life changing events cause people to escape their lease contract early with the majority turning around and immediately getting a different vehicle that meets their new driving needs," said Sergio Stiberman, CEO and founder of LeaseTrader.com, a popular car lease trading Web site. "This process instantly creates a new customer for automotive business and the bank continues to receive payment on the initial lease contract marking a win-win for the industry."

Each month hundreds of thousands of lease drivers look to LeaseTrader.com to escape their lease contract early so they can turn around and shop for a different car. LeaseTrader.com provides the marketplace that allows a driver to find a credit-qualified match to take over the remaining lease contract from the bank. At the completion of the lease transfer, the auto industry gains a new car shopper earlier than expected ultimately leading to an expedited sales cycle and increased inventory turnover.

About LeaseTrader.com

LeaseTrader.com easily and affordably matches car shoppers with individuals looking to transfer their auto lease. Privately held and founded in 1998, LeaseTrader.com is headquartered in Miami. For more information follow on Twitter @Lease_Trader, visit http://leasetrader.com/, or call 800-770-0207.

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