Demand for Secondary SUV Leases Strong
By Michelle Krebs August 25, 2008MIAMI - Despite plummeting sales of new SUVs and trucks, demand on the secondary market for SUV leases is strong as bargain hunters see a good deal in taking over someone's SUV lease, according to LeaseTrader.com.
LeaseTrader.com, a Miami-based company that facilitates the transfer of a lease from one person to another, 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.
"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, said in a statement. "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."
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