Docs Top List of Professionals Ditching Auto Leases

Terri Cullen

Doctors topped the list of professionals seeking to escape their expensive auto leases in 2010, a new survey found. More physicians are citing financial concerns as the reason for wanting to get out of their lease contracts.

Ditching your luxury car lease for a more affordable ride? Apparently, you’re not alone. Doctors topped the list of professionals who are getting out of their expensive car leases for financial reasons, according to an annual survey by LeaseTrader.com, an online service in Hallendale Beach, Fla., that assists in transferring auto leases between private parties.

More than half, or 54%, of the listed vehicles on LeaseTrader were leased by physicians, according to 2010 data on drivers of various industries. Two years ago, real-estate agents topped the list, with 68% saying they were bailing out of their leases for financial reasons, the company said.

In 2008, doctors ranked third on LeaseTrader’s list, behind realtors and financial executives.

Male doctors outnumbered female physicians looking to escape their leases by three to one as of September 2010, LeaseTrader.com said. The company speculated that changes in the healthcare industry may be the reason more physicians are citing financial concerns for wanting to get out of their lease contracts.

To be included in LeaseTrader’s report, a driver had to list one of the above industries for employment and place a car valued at $40,000 or above in the LeaseTrader marketplace to escape the lease contract, the company said.