According to LeaseTrader.com, thousands of leased cars with pre-paid mileage or “equity” are often made available because the original lessee needs a way out of the lease early. At the time of purchase, the lessee will often prepay for mileage on the leased car, or make a significant down payment resulting in a lower monthly payment. For a variety of reasons, the original lessee often needs to escape that lease contract early.
“Some people have a new baby on the way and need a bigger car, while others transfer jobs or go through income changes,” said Sergio Stiberman, CEO and founder of LeaseTrader.com. “Either way, there are hundreds of reasons why people get out of their lease early, leaving a great financial situation for whoever takes over the remaining portion of the lease.”
Cars available for lease transfer have typically only been driven for 10-18 months, LeaseTrader.com said, leaving them in great condition for a person taking it over. Additionally, the cost of entry is far lower than someone buying or leasing a new car since the dealer down payment has already been paid.
For more information, visit leasertrader.com. (Tire Review/Akron)