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New Lease on Life

When he wanted out of his car lease, this entrepreneur didn't take no for an answer--he started a business instead.

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This story appears in the May 2007 issue of Entrepreneur. Subscribe »

What: Online business that matches car lease buyers with others wanting out of their Vehicle leases

Who: Sergio Stiberman of LeaseTrader.com

Where: Miami

When: Started in 1999

Startup costs: More than $1 million

When Sergio Stiberman, 40, wanted to get out of his car lease in 1998, he did what most people would do--he went to his dealership. But he wasn't entirely satisfied with what he found out. "It was going to cost me [the same amount as] all my remaining payments" to get out of the lease early, Stiberman says.

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