An auto lease trade-in website is offering assistance to the trustee liquidating Bernard Madoff's assets to escape the lease contracts of six vehicles Madoff's firm had rented. How selflessly magnanimous of them. Right.
Lease trade-in website LeaseTrader.com is offering its assistance to the trustee overseeing the liquidation of Bernie Madoff's assets escape the lease contracts of the six vehicles his firm rented.
According to a recent court filing, Madoff’s leased vehicles include a 2007 Range Rover, a 2008 Cadillac DTS, a 2009 Mercedes S550, a 2007 Mercedes S550, a 2008 Mercedes GL450 and a 2006 Lexus.
All we know is this is the oddest attempt we've yet seen to sell a product or service to those affected by the Bernie Madoff Ponzi scheme. Odder still is they've dropped a press release to make their plea heard. One would think it'd be easier and more efficient to just pick up a phone and call the trustee.
Wait, what's that? Oh, sorry, yeah, apparently they're not really trying to help. Rather, they're just shamelessly trying to use this as a stunt to boost the public's knowledge. Well played, LeaseTrader.com. Well played.
LEASETRADER.COM OFFERS TO HELP UNLOAD VEHICLE LEASES FROM BERNARD MADOFF TRUSTEES
LeaseTrader.com’s Lease Transfer Program is Easiest Way for Trustees to Escape Lease Contracts
MIAMI (January 23, 2009) – LeaseTrader.com, the nationwide online marketplace for car lease transfers, has offered to assist in helping the trustee overseeing the liquidation of Bernard L. Madoff escape the lease contracts of six vehicles his firm had rented. LeaseTrader.com’s online marketplace allows individuals and estate professionals an opportunity to transfer the remaining portion of the lease contract to a credit-qualified individual looking for a short-term lease.
Mr. Madoff’s leased vehicles include a 2007 Land Rover Range Rover, a 2008 Cadillac DTS, a 2009 Mercedes S550, a 2007 Mercedes S550, a 2008 Mercedes GL450 sport-utility vehicle and a 2006 Lexus, according to media reports citing a recent court filing.
“Millions of Americans experience life changing events every day that force us to make adjustments in our lives, including drastic changes to personal finances,” said Sergio Stiberman, CEO and founder of LeaseTrader.com. “We’ve helped thousands of individuals and estate professionals successfully transfer in and out of vehicle leases over the years because of our online marketplace that caters to consumers in need.”
According to user data on LeaseTrader.com, estate professionals make up approximately 18 percent of the transfer activity in the company’s online marketplace, with reasons that include financial liquidation measures and even death. The most financially responsible way to terminate a car lease is through transfer, which allows cash-strapped individuals to avoid terminating the lease and paying off the remaining balance – a price tag that can easily surpass $10,000.
LeaseTrader.com’s Lease Transfer Program allows individuals to list a vehicle for $79 and provides access to credit-qualified leads and a full-service transfer department to assist with the entire process. Customers then pay $149 to begin the transfer process to escape their lease and avoid unwanted excess financial burden and damage to credit.
LeaseTrader.com easily and affordably matches car shoppers with individuals looking to escape their auto lease. Privately held and founded in 1998, LeaseTrader.com is headquartered in Miami. For more information visit www.leasetrader.com, or call 800-770-0207.
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Photo Credit: EMMANUEL DUNAND / AFP