Auto sector feels pinch of credit crunch and rising fuel costs
Driving a sporty car was nice, but with high gas prices and inflation pinching at his pocketbook, Jorge Valdes decided last October to get rid of his white BMW 525i sedan when the $700-a-month lease payments became too much to bear. Valdes turned to LeaseTrader.com, an online service that allows one car-lease owner to transfer it to another before it expires. He passed on the remaining 16 months of his 36-month lease to another driver, allowing him to lease a new, cheaper car and lower his monthly car payments.
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