Builders and Remodelers Fuel Pickup Truck Increase at LeaseTrader.com
The summer season is starting to get busy and that’s generating new revenue for equipment and truck companies, with contractors restocking fleets. LeaseTrader.com, the nation’s most popular online marketplace for car leasing, just announced an increase in demand for lease takeovers throughout the company’s truck category during May. For the first time in 2010, monthly demand for truck takeovers has risen above five percent growth and is expected to close out the month near a 9.7 percent increase for overall category demand.
LeaseTrader.com insiders believe a gradually improving economy, warmer weather for construction projects and increased business spending are all main reasons why May saw a noticeable spike in truck demand for auto lease takeovers. LeaseTrader.com’s truck category is averaging 16.3 days to transfer, down from 17.7, and listing prices have dropped slightly to a category average of $538.76 per month.
The Toyota Tundra leads all LeaseTrader.com truck demand in May grabbing 18.6 percent of the lease swap category. Ford’s F-150 (16.7 percent) leads all domestic trucks and is second overall followed by the Dodge Ram (14.2 percent) and the Chevy Silverado (13.8 percent).
“Builders and remodelers, in particular, have been a large part of our increase in truck category demand,” said Sergio Stiberman, CEO and founder of LeaseTrader.com. “Although the construction industry is still recovering from a deep economic pullback in housing activity, builders are slowly gaining shorter-term projects where they’re looking for short-term lease commitments.”
LeaseTrader.com is an online marketplace that matches a person wanting out of a vehicle lease with a credit-qualified individual looking to take over the remaining portion of the contract. Outgoing lessees get to walk away from their contract without harm to credit and car shoppers can get a short-term lease with no down payment.
