In These Tough Times, Canadians Are Economizing On Vehicle Leases

TORONTO, ON. - Economic downturn. Financial crisis. Recession...  if you watch, listen to or read the news, there's not a lot to cheer about these days. While the economic situation in Canada is - for now - much more stable compared to that in the U.S., bad news spreads like the flu. To continue the analogy with a quote from the late former Prime Minister Pierre Eliot Trudeau, "When Americans sneeze, Canada catches a cold." More and more Canadians are wondering, "Could what's happening in the U.S. happen here? What should I do to prepare - just in case?" When it comes to watching expenses, it's natural to look at what's taking the biggest bite out of the monthly budget and for many people, it's the cost of their vehicle. Lease Busters Inc. (Leasebusters), Canada's leading vehicle lease facilitator, has been hearing from lease-holders who find themselves locked into lease agreements that made sense in good times but might not now. According to Jim Matthews, General Manager and Owner of Leasebusters, "People are worried about their jobs, frankly, and they're taking a fresh look at how to make each precious paycheque go further." Matthews went on to say that "Replacing a pricey vehicle lease that suddenly seems extravagant with one that's more reasonable makes good economic sense, and making that happen is a big part of what we do at Leasebusters." Matthews describes a number of scenarios that can bring leaseholders significant savings, in some cases enough to pay monthly fuel costs. "Someone leasing a Toyota Camry for around $450 to $500 per month could switch to a Honda Civic Sedan. The Civic is a bit smaller but still practical - and it leases for as much as $200 less per month." Executives feeling the financial pinch can score similar savings on premium vehicles. A vehicle like the Cadillac CTS that currently leases in the $650 to $800 range could be replaced by a Ford Fusion or Chevrolet Malibu for just $400 to $500 per month - a hefty savings. Adds Matthews, "It's not only private individuals who are looking to cut their leasing costs, either. Companies who provide vehicles to their employees are also very interested in this kind of economizing." All in all, reducing exposure to financial uncertainty now is an excellent way to be prudent and proactive about the future. For many Canadians, however, simply economizing isn't enough, especially if they have lost their jobs and suddenly need their cars more than ever - to help them find new jobs.  "Leasebusters can help people who find themselves in 'double jeopardy' figure out a way to keep their car", explains Jim Matthews. "From our experience, we've seen leasing companies work with customers for as long as 90 days, based on goodwill, merit, and payment history. We have and will work with lessees and leasing companies to help both parties arrive at mutually beneficial solutions."   Last and not least, the major auto manufactures find themselves with huge inventories - tough times make for good opportunities to get out of leasing entirely and get into a new vehicle at great savings. The Leasebusters website at www.leasebusters.com is an essential resource for Canadians in these troubled times. Lease takeovers are more popular than ever, especially since the recent phase-out of subsidized leases. Once a lessee has arranged with Leasebusters to get out of an unmanagable lease early, they can refer to the website and quickly find a more affordable vehicle to lease. ABOUT LEASEBUSTERS Founded in 1990, Lease Busters Inc. is considered to be Canada’s lease takeover pioneer. Leasebusters’ mission has always been to offer a service that assisted the general public and business community in both getting out of and getting into existing vehicle leases. Leasebusters is proud to have created Canada’s only lease takeover marketplace through partnering with the new car dealership community, conducting a successful national advertising campaign and establishing a leading national lease takeover website (www.leasebusters.com) that vastly simplifies the lease transfer process. For Further media information, or for an interview, please contact: Nelson Hudes Hudes Communications International (905) 660-9155 nelson@hudescommunications.com

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