Swapalease.com Motivation Shifts as Economy Improves
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CINCINNATI, Apr. 27, 2010
The American Bankers Association released a Consumer Credit Delinquency Bulletin earlier this month stating that auto loan delinquencies which include leases had dropped significantly. Additionally, this drop in delinquency was viewed by a top ABA official as an indication the economy is trending in the right direction.
The ABA noted other financial sectors outside of automotive were showing signs of improvement in terms of reduced delinquency, as well. As a result of this improvement consumer motivations appear to be shifting from a survival mode to being more want based in nature. This shift equates to a move in a positive direction for the economy overall and the boost that the automotive industry has been desperately seeking.
Lease transfer leader Swapalease.com has witnessed a shift in consumer behavior in recent weeks. Users are more commonly stating that their motivation for transferring a lease is based on desire rather than being forced to do so from a monetary perspective. “Last year at this time we saw clients needing to get out of their lessees for financial relief,” says Scot Hall, EVP of operations at Swapalease.com. “Now more clients want to get out of their lease to pursue new vehicle opportunities as opposed to having to do so”.
On the other side of the equation, buyers are able to get into a vehicle with little or no upfront costs by taking over a lease midstream. In some cases lease buyers are even able to take advantage of cash incentives offered by those exiting leases. Taking over a lease is great option for people to get into a vehicle that meets their needs without the long term commitment while being smart with their money.
For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.
Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online using a patented process. First conceptualized in 1997, Swapalease.com has evolved into the leading automotive consumer online destination servicing all aspects of the automotive leasing lifecycle and provides programs (including new leases and for sale vehicles) for both consumers and dealers in the U.S. and Canada. The company is headquartered in Cincinnati, Ohio. For more information, call 866-SWAP-NOW or visit www.swapalease.com.
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