Get Out of Your Car Lease, Minus the Fees

Looking to save money? Now there's a way to get rid of your car lease -- without the hefty fines.

Meg Rockman found LeaseTrader.com, a Web site that allows people to transfer their vehicle leases to people looking for a deal.

When Rockman was working, her nanny drove her Chevy Tahoe while Rockman leased a Mini Cooper for her commute. But it left her with an unwanted lease when she quit her job to stay home with her children.

"We knew we wanted to get out of the lease," she said.

LeaseTrader.com CEO Sergio Stiberman said the site offers wins for everyone. People can unload the leases they can't afford or don't need, and people who want to lease can assume one for shorter terms and with no down payment, he said.

Rockman listed and transferred her lease for about $230 -- in a month.

"LeaseTrader handled all the paperwork," she said. "I signed the papers, sent it back, and it was all good; it was a done deal."