Leasing a car or assuming a lease can help your budget

Autodata reported February sales of the Toyota Prius rose 69.9% over February 2010 sales, while the Honda Civic Hybrid saw a 58.3% increase. General Motors is selling every Volt long-range electric vehicle it can put out currently.

As their popularity increases, so does the price of such vehicles. At the same time, prices at the pump aren't going anywhere but up with crude oil back over $100 a barrel again today as OPEC announced no increase in production. How can you save money?

Leasing can keep your car payment manageable and free up cash. The popularity of this type of lending declined steeply during the economic downturn, but now it's on the fast track –nearly a quarter of car shoppers choose to lease.

The advantage of leasing is you only pay for the pre-set amount of time you will use the vehicle, keeping monthly payments lower and getting more car for your money.

"Another excellent option for many consumers is lease assumption. Through sites like www.swapalease.com, people can take over a lease from individuals looking to get out of their lease, said Richard Joseph, president of Swapalease.com. “Swapalease began seeing a surge in interest in fuel-efficient vehicles among our users as soon as gas began its climb towards $4 per gallon."

Automakers are making leasing options more attractive, as people continue to feel the crunch of increased prices for gas, food and other necessities,. Now you can take out a shorter lease contracts, as short as 24 months, on a wider array of compact cars with lower interest rates.

While there’s a lot to consider when choosing to lease, you can check swapalease.com to investigate the process.

This is the first full-service online marketplace of in-process vehicle leases. With the goal of matching individuals who are currently leasing vehicles, with individuals who are looking for short-term leases with manageable payments and no money down, it might be the perfect way to find your next vehicle.

The site asks if you are a seller or buyer and then directs you to further information. Phone consultation is offered and assistance with inspection and delivery is provided.