With the global recession on everyone’s minds, the idea of "swapping" to save money is growing in popularity. Auto lease swaps, in particular, are on the rise all over the U.S., says Swapalease.com, the world’s largest auto lease marketplace. In fact, Swapalease.com has become so popular that the term "lease swap," which was branded by the company in the late nineties, has become synonymous with lease transfer.

Similar to Q-tips, Kleenex and Band-Aids, the genericized term "lease swap" demonstrates how successful Swapalease.com has become as others in the market and mainstream media often use it interchangeably with lease assumption or lease transfer.

Swapalease.com pioneered the facilitation of lease transfers online ten years ago and uses a patented process to help those looking to exit their car lease early find a qualified buyer to take over the remaining payments. Particularly with the state of the economy, where uncertainty is rampant, the company is seeing increased interest on both the buyer and seller sides of the lease swap transaction. Leasing companies and consumers alike are benefiting.

Lease swaps are a win-win-win solution for the buyer, seller and leasing company because everyone saves on their bottom line. This is the most cost effective option for those looking to get out of their lease without penalty and the consumer who assumes the lease gets low monthly payments and sometimes even a cash incentive upfront.

Swapalease.com officials note that almost anyone can ‘swap ‘til they drop’ on their site, even those who do not currently have a lease.

GM vehicles remain popular in the lease transfer marketplace despite the recent bankruptcy announced by the troubled automaker, according to Swapalease.com, the world’s largest auto lease marketplace.

The company tracks vehicle searches on a monthly basis in an effort to monitor trends and gauge vehicle demand. For the month of May, Swapalease.com reports that searches for most Chevrolet, GMC and Cadillac models have either remained steady or increased in the past month.

The Chevrolet Corvette had the most notable jump in searches last month. Spring and summer are the most popular months for sports cars and the Corvette in years past has always been strong on leasing.

1. Chevrolet Corvette

2. GMC Acadia

3. Cadillac Escalade

4. Cadillac CTS

5. Chevrolet Tahoe

6. Chevrolet Silverado

7. Cadillac Escalade EXT

8. GMC Yukon

9. Hummer H2

10.Hummer H3

Hummer models were heavily searched and only time will tell if this trend continues after GM’s recent acknowledgement of the brand’s sale to a Chinese manufacturing company.

Part of the increase in GM vehicle searches may be attributable to their captive finance company GMAC effectively exiting leasing early in the final quarter of 2008 by no longer offering subvented leases. With fewer attractive leases originating on domestic vehicles, consumers are turning to Swapalease.com and taking advantage of those already in process.

"Our user data indicates that the economy, and a recent uptick in fuel prices have not resulted in a drop in demand in our lease transfer marketplace," says Ron Joseph, co-founder of Swapalease.com. "What we are learning is that people still want to lease GM vehicles. Despite the bankruptcy and general negativity in the news, GM vehicle quality has never been better. We anticipate that as GM reemerges stronger and as the economy recovers, General Motors will once again embrace leasing based on consumer demand and the volume it can bring to the automaker."

SWAPALEASE.COM is GIVING AWAY $50 for 50!

Several weeks ago we blogged about the reasons most often given for one wanting to takeover a lease.  Now it is time to look at the other side of the equation and find out what the motivation is behind those individuals wishing to exit their lease... 

The following list was compiled using a two-tier approach based on Swapalease.com user feedback. Results data was obtained directly from users through the web site as well as through employee user interaction.

1. Financial concerns
2. Lifestyle changes
3. Want a new vehicle
4. Mileage concerns
5. No longer need vehicle
6. Gas prices
7. Family size
8. Dislike their present vehicle
9. Insurance costs
10. Maintenance costs

Financial concerns, the top response incorporated a range of user feedback including, but not limited to mortgage related issues, loss of employment, and general budgetary concerns. Lifestyle changes remain a strong motive, as well indicated by runner up status. The most prevalent example provided by Swapalease.com users was a growing family and the fact that their present vehicle will not be able to accommodate their needs in terms of people and gear hauling capacity.

Interestingly, Swapalease.com clients noting that they simply want a new vehicle as a basis for transferring a lease landed the third position despite an uncertain economic outlook.  Also current prices at the pump are often cited as a basis for wanting to exit a lease.