Lease Trader Vs. Swapaleaseby Michael Sullivan
Swapalease.com and LeaseTrader.com both bring together two groups of people: those who want to get out of their automobile leases early, and those who are willing to take on the remainder of those leases without large up-front costs.
With LeaseTrader, the seller lists the make, model, features and current mileage of the car, along with the identity of the leasing company and the lease buyout amount or residual value. Advertising your vehicle costs $89.95; the seller transaction fee is $149.95. Buyers pay a $39.95 application fee and a $149.95 transaction fee upon assuming the lease.
Swapalease follows essentially the same model for listing vehicles. It does not post seller fees online, requiring you to call the company to find out the fees for various listing packages. Yahoo Finance reports that seller fees range from $49.95 to $150 for a listing, plus a $95 transaction fee. Swapalease also charges buyers a fee to register to use its site, which can range from $34.95 to $79.95.
Some leasing companies also charge buyers a transfer fee of up to $600. Both sites allow buyers and sellers to negotiate to have the seller pay part or all of that fee, along with shipping expenses or vehicle expenses.
- photo_camera lease image by Renato Francia from Fotolia.com