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Thread: LeaseTrader.com

  1. #1

    LeaseTrader.com

    LeaseTrader.com is a ripoff! I went to them because I needed a car for only a few months. After paying two fees, registration and brokerage, totaling more than $300, I was allowed to contact the seller of the car I wanted. Because I didn't want to get stuck with a lemon, I took LeaseTrader up on its offer to have the car inspected -- for another $200. The car was on the other side of the country and I would have to pay their transferring fee. I wanted to make sure it was in good condition before it arrived. Shortly afterward, the seller backed out of the deal. LeaseTrader refused to give me any kind of refund. I decided to try SwapaLease instead. For just a small fee of $39.95 I had access to a much wider selection of vehicles and their owners than could be found on LeaseTrader. I found the vehicle I wanted in the same city as me. The seller agreed to get the vehicle inspected by the dealer and send me the report. It was a much better experience. I only wish I had gone to SwapaLease first. I only chose LeaseTrader first because I thought their website was more sophisticated. Don't be fooled! Use SwapaLease if you want better, friendlier service at a better price.

  2. #2

  3. #3

    Re: LeaseTrader.com

    I first checked with the BBB

    With all the companies out there Leasetrader.com was the only company that found a credit qualified buyer for my car!

    Swapalease.com and LeaseTrade.com just sent me everyone with good and bad credit, wasted almost a month of my time,

    so it seems Leasetrader.com is excellent if you want to get out of your car!! just a little tough if you want to get into a car.

    looking through the internet is tough!!
    The BBB seems to be the best way to check out a companies history!

  4. #4

    LeaseTrader - Don't Do It

    I normally donít write reviews because it takes time out of my life, but I had to write this one to share my experience with LeaseTrader as well. I was doing research on getting a lease. I found a lease for a Honda on leasetrader.com that offered lower monthly payments than from Honda itself! So I paid $39.95 to get my credit check from LeaseTrader. I also had a co-signer, with excellent credit scores, put on the credit check. If the credit check came back good then you could communicate with the seller. LeaseTrader emailed back to say they would not allow me to contact the seller because I didnít get approved through the credit check. I thought it was because of my credit score, so I took LeaseTraderís option to re-do the credit check again for $29.95. This time I removed my name. I was sure the other person would pass the credit check because of his excellent credit scores. LeaseTrader emailed back and did not approve the credit check. I didnít understand why the person with a great credit score didnít get approved to just contact the seller. I called LeaseTrader and they told me that although he had great credit scores, his credit history might not have been long enough and would not offer a refund per their policy.

    I later got a lease for a Honda through a Honda dealer. Note: I got the lease just fine. I also contacted Honda Financial Services, the financial institution that was providing the lease, and asked if someone could take over a lease. They said NO. I could ¨not transfer a lease but could add someone to the lease but my name could not be taken off the lease. I asked if the person that was added needed to have good credit. They said NO. To add someone to your existing lease, it doesnít matter the other personís credit score. So, two red flags for LeaseTrader. Is LeaseTrader a scam? You make that determination but I think itís sort-of a scam but they canít get caught. First, LeaseTrader makes it difficult for you to get approved for a credit check to be able to contact the seller. Second, if I was able to contact the seller, I would not have been added to take over the lease because Honda Financial Services does not allow this. I asked a couple of dealerships while I was shopping for a lease if they had lease transfers I could take over and they all said they do not offer such a thing and would not recommend me doing that. So, I lost $70 on a learning experience. I called them for a refund when I found out that Honda Financial Services do not allow lease transfers but LeaseTrader said that per their policy, you could not get a refund. I would never use them again and would not recommend anyone doing the same.

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