Options for breaking a car lease
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With unemployment claims on the rise, many are finding it difficult to keep up with bills.
And because of that, there's been a spike in people trying to get out of their car leases... that's according to "swap a lease dot com."
Kimt news 3's madelyne watkins spoke with the executive vice president of the company to explain how you can get help, if you need it.
Brooke and tyler.
Leasing a car is a pretty common thing... but i want to let you know about your options when it comes to getting out of a lease in cas yourself in a pickle.
According to scot hall with swap a lease, there's been a 66 percent increase of people listing their vehicle online to transfer their lease.
So what happens then is someone else would take over their lease, releasing them of the financial burden.
He tells me there are three main reasons why people try to get out of their lease?
Financial reasons, wanting a new vehicle, or having a lifestyle change.
He says the majority of the reason for the current increase is that people are taking the preventative steps ahead of time before it's too late and they can't make their payments.
"i think people that have put some effort into keep their credit scores high, making sure they're paying their bills, i think those generally are the type of people planning ahead, looking to make sure they keep their credit history where it is and not run into trouble.
I think it kind of fits with the demographic, if you will, of leasing."
Hall tells me their job right now is to help those wanting to get out of their lease early, find someone who is in the position to take over the remaining amount left on their lease.
Live in rochester.
Madelyne watkins kimt thank you madelyne.
If you want to see what other options are out there about getting out of your car lease early, you can reach out to the dealership where your car is from.