Since 1990 LeaseBusters has been helping Canadian consumers get into and out of vehicle leases in a professional and affordable fashion. LeaseBusters, through their website, LeaseBusters.com has created a marketplace for vehicle lease Buyers and Sellers to congregate, gain information, receive vehicle market position evaluations and eventually make deals.
The need for the services for LeaseBusters arose due to the fact that prior to them pioneering the vehicle lease-take-over concept, the only way for consumers to exit (or terminate) their lease was to have it paid-out and the vehicle to be sold to either a dealership or a retail customer. The problem with this method is the lease pay-out (the amount owed on the lease) is always considerably higher than the depreciated value of the vehicle; this term is referred to as “lease deficiency”. Lease deficiencies often exceed $6,000.00 on most modestly priced vehicles and exceed $10,000.00++ on higher end vehicles.
As a result, many consumers that wanted to exit their vehicle lease in favour of another vehicle or simply to be liberated from their contractual responsibilities of their current lease could not afford to pay their way out of their lease. This reality often created a perceive dark-cloud within the vehicle leasing industry (although the same concept would exist for the consumer had they financed the vehicle with a conventional car loan).
When LeaseBusters introduced the concept of lease-transfers (aka lease-take-overs), the fair market value and the current lease pay-out of the leased vehicle immediately became immaterial because the lease was not going to be terminated. What was important was the monthly payment, the remaining term, the odometer reading, the popularity of the vehicle and several other characteristics of the lease and the vehicle. LeaseBusters would evaluate the lease and if the lease scored high enough, LeaseBusters would expose the vehicle to their huge audience of consumers that were looking for a shorter term popular vehicle that they can assume.
LeaseBusters became the e-Harmony of vehicle lease-take-overs, effectively and professionally matching up Buyers and Sellers and providing a win/win scenario for both consumer segments. The vehicle lease transfer concept prevented the Seller from having to pay thousands of dollars in lease deficiency charges and provided the Buyer with a great vehicle with fewer payments (which essentially saved the Buyer thousands in additional payments that they didn’t want to make).
If you are looking to get out of your vehicle lease and have either perceived that it is impossible or costly and you have been told by your dealership that you have to complete the balance of your lease; check out www.leasebusters.com and have your lease professionally evaluated at no charge in order to determine if they can help you. If your vehicle passes the evaluation process you can hire LeaseBusters and have your vehicle lease assumed after a short exposure period to their very qualified website audience. Conversely, if you are looking for a short term lease because you don’t want to encumber yourself for a long term and if you are looking for a cash incentive to take over someone else’s lease, check out the LeaseBusters website. If you would like to speak to one of their professional leasing experts, give them a call at 888-357-2678.