With Verizon getting the iPhone, industry experts are wondering how many people will leave AT&T to enjoy the phone with its new carrier. And with the launch of the Chevy Volt, experts are also wondering how many people will switch from the Toyota Prius to drive the much-hyped new American car.
While LeaseTrader.com can’t comment on the latest cell phone fad, the nation’s most popular car leasing marketplace may have interesting insight into the potential Prius to Volt switch. While experts at LeaseTrader.com anticipated a handful of questions from Prius lessees inquiring about escaping their lease contract to pursue the new Chevy Volt, the company thus far has received far more calls than it originally anticipated.
“No doubt about it, the Chevy Volt has been the star of the auto world as we head into 2011 and this has not been lost on the average driver,” said Sergio Stiberman, CEO and founder of LeaseTrader.com. “GM has done a fantastic turnaround job with the company and the excitement about the Volt continues to grow headlined by many naming it the 2011 ‘Car of the Year.’”
Toyota Prius lessees interested in getting out of their lease contract to pursue a different hybrid such as the Volt would normally face thousands of dollars in early contract termination penalties. But LeaseTrader.com allows lessees to transfer the remaining portion of their contract to a third-party individual in the market for a short-term lease. The “seller” avoids the termination fees and the “buyer” avoids a down payment.
It costs $325 to break an AT&T iPhone contract in favor of Verizon. Toyota Prius lessees would pay less, a total of $238, to transfer out of their Prius or any other vehicle contract to avoid penalties through the LeaseTrader.com marketplace. LeaseTrader.com experts point out the average monthly lease payment on a Prius today is in the low to mid $200s, down from the $500s just a couple years ago.
LeaseTrader.com, the most recognized name in car leasing, easily and affordably matches car shoppers with individuals looking to escape their auto lease. Visit www.LeaseTrader.com, on Twitter @Lease_Trader, or call 800-770-0207.