Press Contact:
John Sternal
Merit Mile
O – 561-362-8888
C – 954-592-1201
CREDIT APPROVALS CONTINUE HEALTHY PATTERN IN JUNE
Consumer Credit Throughout 2013 Noticeably Stronger Than 2012 Levels
Cincinnati, OH (July 10, 2013)
National car lease marketplace Swapalease.com reports its latest lease customer credit approval information, with positive trends continuing into the halfway mark of 2013. According to data from Swapalease.com, the year-to-date credit approvals rate recorded at the end of June was 73.9%, down just slightly from 75.3% approvals in May.
Swapalease.com considers a healthy rate when credit approvals reach 70% of all applications. Credit is extremely important in car leasing, and each customer looking to apply to take over a lease on the Swapalease.com marketplace must undergo an applications process, including credit verification, with the lease company. The 73.9% YTD figure at the mid-way point of 2013 compares to 58.4% approvals during the same time in 2012.
“The overall credit approvals rate has been much stronger in 2013 compared to what our marketplace experienced in the previous year,” said Scot Hall, Executive Vice President of Swapalease.com. “We anticipate this pattern will continue, particularly as the automotive industry and labor markets continue to show additional strengthening.”
The number of customers seeking to go through the credit application process to take over a lease on Swapalease.com increased 22.2% from May to June. Credit history and credit score are the primary qualifiers evaluated by the lease companies during the application process. A successful lease transfer does not reflect negatively on the outgoing lessee’s credit, as the lease company indicates that person as fulfilling their payment obligation.
www.swapalease.com is the first and only full-service online marketplace of in-process vehicle leases. With the goal of matching individuals who are currently leasing vehicles they wish to get out of, with individuals who are looking for short-term leases with attractive payments and no money down, it’s the perfect way to find the perfect vehicle for you.
Back to Articles
Other News...
