LeaseTrader.com Says Former Autoworker Vehicle Listings Surge
LeaseTrader.com is seeing significant vehicle listing growth connected with laid-off autoworkers who secured vehicles thanks to heavy discounts available while they were still employed with an OEM.
In fact, site officials said the volume of lease-trade deals on vehicles from former auto employees has doubled so far in 2010 compared with what they normally process.
For LeaseTrader.com users, these units are in high demand. According to the site, vehicle lease contracts from former autoworkers typically average more $2,000 less in monthly payments compared with other listings.
Executives noted General Motors and Chrysler vehicles make up the majority of listings in this category on the LeaseTrader.com marketplace. They mentioned a Dodge Charger listed at $149 per month with eight months remaining was recently traded, as was a Cadillac CTS listed at $225 for 13 months.
The site stated autoworkers pay just $89 to list their lease on LeaseTrader.com followed by a $149 commission at the time of transfer.
“Vehicles listed below the average monthly price often find a new home in less than a week,” site executives emphasized.
LeaseTrader.com chief executive officer Sergio Stiberman believes the spate of layoffs during the last 18 months has forced this rise of these unique listings.
“One of the perks of working for a car company is the company rate at which you can purchase or lease a vehicle,” Stiberman insisted.
“Many of these former employees now see an opportunity to trade away their vehicle and benefit from the discount they received by their former employer,” he added.