Lawyers letting go of expensive leases

November 19, 2010
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According to one company, lawyers are wanting out of their car leases more frequently than they were just two years ago.

LeaseTrader.com says lawyers who utilize their service are second in the number of vehicle leases up for trade than other professions. In 2008, 26 percent of lawyers got out of their expensive car leases; in 2010, the number jumped to 51 percent.

To be included in the report, a driver had to have a car valued at $40,000 or more in the LeaseTrader.com marketplace to escape the lease contract. The website allows people to take over leases or get out of their current lease.

Who’s trying to get out of their expensive leases most often? Doctors. Of the five professions listed, insurance brokers are doing the best – only 17 percent of people in that industry want out of their leases.

What I find most interesting about this snippet of data is that women are wanting out of their leases less frequently than men. Sixty-five percent of attorneys who wanted to give up their BMW or Mercedes leases were men; only 35 percent were women. Across the board in all the professions listed, women were far less likely to want out of their lease. The exception is Realtors, where it’s nearly a 50/50 split between males and females.

Why could this be? LeaseTrader.com hypothesizes it’s because women in general aren’t feeling the pain as much as men seem to be in this current economic climate. A possibility, but I’d offer a guess that it has to do with the number of female attorneys who would be able to afford a lease of $40,000 or more. The number of female partners is low. I glanced at the websites of two Indianapolis-based firms with locations around the state, country, and/or world. Less than 20 percent of partners are women.

Women are also more likely than men to work reduced hours or part time, making them less able to afford a higher-priced lease. Perhaps it’s just that women are more likely to buy their expensive car instead of leasing it.

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  1. I'm not sure what's more depressing: the fact that people would pay $35,000 per year to attend an unaccredited law school, or the fact that the same people "are hanging in there and willing to follow the dean’s lead in going forward" after the same school fails to gain accreditation, rendering their $70,000 and counting education worthless. Maybe it's a good thing these people can't sit for the bar.

  2. Such is not uncommon on law school startups. Students and faculty should tap Bruce Green, city attorney of Lufkin, Texas. He led a group of studnets and faculty and sued the ABA as a law student. He knows the ropes, has advised other law school startups. Very astute and principled attorney of unpopular clients, at least in his past, before Lufkin tapped him to run their show.

  3. Not that having the appellate records on Odyssey won't be welcome or useful, but I would rather they first bring in the stray counties that aren't yet connected on the trial court level.

  4. Aristotle said 350 bc: "The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of an modes of getting wealth this is the most unnatural.

  5. Oh yes, lifetime tenure. The Founders gave that to the federal judges .... at that time no federal district courts existed .... so we are talking the Supreme Court justices only in context ....so that they could rule against traditional marriage and for the other pet projects of the sixties generation. Right. Hmmmm, but I must admit, there is something from that time frame that seems to recommend itself in this context ..... on yes, from a document the Founders penned in 1776: " He has refused his Assent to Laws, the most wholesome and necessary for the public good."

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