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Why Do People Break Their Car Leases? Report Finds Surprising Answers
Publish Date : 12/11/2004 11:01:00 AM   Source : Culture and Community News

Un-Lease Inc. (www-un-lease.com), America’s premier marketer of vehicle un-lease transactions, today announced the results of the 2004 Un-Lease Intent Survey. Consumers were surveyed about their reasons for wanting to break their vehicle leases as they completed transfer applications.
The survey shows that an increasing proportion of consumers are now exiting their leases early for “non-financial” reasons. More than half of survey respondents were interested in breaking their leases for these reasons, a marked shift from previous years.

“Leases are becoming easier to break, and as a result, consumers are more interested in taking advantage of their newfound freedom,” said Dev Bhatia, founder and CEO of Un-Lease. “We suspect that consumers always choose financial flexibility when given the choice.”

Of the total respondents, 32.8% cited their interest in another car as their primary reason for breaking their current lease. Another 21.3% cited household/family change, while only 19.7% opted for the traditional reason that their payments were too high.

Perhaps most revealing was the fact that of those interested in changing their rides rather than reducing their payments, more than half were interested in models with higher average monthly payments.

“Most casual observers might think that financial distress is the primary motivator for exiting a car lease,” said Un-Lease CEO Dev Bhatia. “We’re finding exactly the opposite to be true. Our customers are not only getting into new cars, but are often taking on even higher payments. As Un-Lease transactions gain increasing mainstream acceptance, we expect this trend to continue.”

The change in interest rate environment, coupled with recent innovation and development in the lease transfer marketplace, have both spurred growth of un-lease transactions. Relaxing of some financing company restrictions have also helped. For more details on developments in un-lease transactions, contact Un-Lease Inc.

About Un-Lease Inc.
Un-Lease (www.un-lease.com) is America’s premier marketer of un-lease transactions — enabling vehicle lessees to exit their leases for half the cost of traditional lease trade-ins. Un-Lease saves consumers thousands of dollars in unnecessary payoff penalties, and helps them avoid paying negative equity. The average customer saves more than $5,000 when choosing to un-lease rather than paying off a lease early with their dealer or financing provider. Un-Lease is a C-Corp. headquartered in Laguna Beach, CA.

Contact Information:
Dev Bhatia
Un-Lease Inc.
+1-877-EXIT RAMP, x. 7
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