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CAR LEASE CREDIT APPROVALS RISE SLIGHTLY FROM PREVIOUS MONTH LEVELS
Rising Consumer Borrowing Translates Into More Credit Applications on Swapalease.com
Cincinnati, OH (April 15, 2014)
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of March were at 69.6%, up from last month’s yearly low of 66.7%. The 69.6% approvals mark is also the level of the last three months, indicating a credit approvals landscape that continues to hover near the “healthy” mark of 70%.
The credit approvals rate over the last twelve months stands at 71.7%. Prior to March, the approvals rate had continuously dropped from early fall of 2013 when the approvals rate rose to approximately 76%. Since then, Swapalease.com has noticed an increasing rate of credit applications due to more lease shoppers entering the marketplace.
Monthly Breakdown:
| March Approvals: | 69.6% |
| Year To Date Approvals: | 68.8% |
| March 2013: | 70.0% |
| Year Ago YTD: | 72.0% |
| Last 3 Months: | 69.6% |
| Last 12 Months: | 71.7% |
2014 Lease Credit Approvals & Data Comparison
| 2014 | Monthly Apps | Year To Date | Year Ago Month | Year Ago YTD | Last 3 Mo | Last 12 Mo |
| Jan | 70.6% | 70.6% | 80.0% | 80.0% | 70.6% | 70.6% |
| Feb | 66.7% | 66.7% | 60.0% | 73.3% | 66.7% | 66.7% |
| Mar | 69.6% | 68.8% | 70.0% | 72.0% | 69.6% | 71.7% |
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