MORTGAGE & DIVORCE ARE BIGGEST REASONS FOR LEASE TERMINATION IN SOUTH FLORIDA

David Walker, LeaseTrader.com — Mon, 05 Apr 2010 16:45:41 GMT

For Immediate Release

MORTGAGE & DIVORCE ARE BIGGEST REASONS FOR Lease Specials TERMINATION IN SOUTH FLORIDA

South Florida Still Third Largest Region Nationally for LeaseTrader.com Marketplace

MIAMI – (April 5, 2010) – LeaseTrader.com, the nation’s most popular online marketplace for car Lease Specials transfers, revealed new data today which shows growing financial pressures of underwater mortgage and life changes from divorce as the two largest reasons for escaping an unwanted car Lease Specials contract early.

Data was accumulated during the fourth quarter of 2009 when LeaseTrader.com analyzed reasons why a growing number of South Florida drivers use the marketplace to escape a car Lease Specials they can no longer afford. South Florida drivers use the marketplace to find credit-qualified individuals anywhere in the country ready and willing to get a deal on a Lease Specials by taking over their remaining contract.

South Florida has been hit hard by residential foreclosures due to distressed properties and values far lower than at the time of purchase. The most recent statistics from Condo Vultures LLC show an average of 239 foreclosure filings each day in South Florida this past February. What's more, Doreen Yaffa, a board-certified family attorney and managing partner of Yaffa & Associates in Boca Raton, has already seen a 25 percent increase in divorce cases in 2010.

South Florida remains the third most popular region nationally for LeaseTrader.com as an increasing number of drivers look to escape or downsize out of a car Lease Specials without incurring expensive early Lease Specials termination fees. "A car is typically the second largest monthly bill for a household, so LeaseTrader.com is an easy way to get rid of an unwanted car payment for people dealing with a variety of financial and personal issues," said Sergio Stiberman, CEO and founder of LeaseTrader.com.

Percentage of South Florida residents escaping a vehicle on LeaseTrader.com for varying reasons:

Underwater Mortgage: 16.6%
Divorce: 15.8%
Leaving Area: 11.2%
Job Loss: 9.1%
Buyers Remorse: 7.4%

Currently there is a growing waiting list of people looking to take over a car Lease Specials from a distressed driver, allowing many South Floridians the only real option to walk away from a Lease Specials without harming their credit. No money down and short terms prove financially beneficial to many shopping for a car Lease Specials.

About LeaseTrader.com

LeaseTrader.com easily and affordably matches car shoppers with individuals looking to escape their auto Lease Specials. Privately held and founded in 1998, LeaseTrader.com is headquartered in Miami. For more information visit www.leaseTrader.com, on Twitter @Lease_Trader, or call 800-770-0207.

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MORTGAGE & DIVORCE ARE BIGGEST REASONS FOR LEASE TERMINATION IN SOUTH FLORIDA