LeaseFolks, North America's premier auto lease transfer service, is pleased to introduce a new innovative vehicle remarketing solution for consumers who finance the purchase their vehicle(s). Our new service connects consumers who want to transfer the balance of their payments with consumers looking to take over finance payments.
When financing a car, the interest on the car loan is paid off faster than the principal. Less money goes towards the reduction of the loan, while the car depreciates faster than the rate at which the loan is being paid off. This leaves an owner who wants to sell their vehicle with some degree of negative equity (he owes more on the vehicle than it's actually worth).
FinanceFolks saves money for consumers who finance their vehicles by connecting them with buyers interested in taking over the balance of their finance payments. Using the FinanceFolks.com marketplace, sellers can transfer their payments to another buyer instead of selling their vehicle outright and taking a significant financial loss. Buyers take advantage of no money down, no taxes and subsidized low interest rates that are normally only available on new cars. The FinanceFolks money-saving program creates a win-win situation for all parties involved.