Categories


NOVEMBER CREDIT APPROVAL RATES UP FROM A YEAR AGO

Cincinnati, OH (December 8, 2016)

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 64.7% approval rate for November, a 3.2% increase from the previous month (61.5%). A year ago, the approvals rate was just 57.9% during the same month.

This year’s approval rates have been down in comparison to 2015. The lease credit approvals rates have been fluctuating on a month-to-month basis. So far this year, the average credit approval rating has been 63.8%.

Although 2016’s numbers have remained relatively low throughout the year, both October and November have produced higher credit approval rates than the same months in the previous year.

“Although the credit rates have bounced back from last month we don’t expect that to skyrocket anytime soon,” said Scot Hall, Executive Vice President of Swapalease.com. “The end of the year usually yields lower numbers for a variety of reasons, including an increase in shopping activity overall.”

Swapalease.com matches a person wanting out of their existing vehicle lease contract with a car shopper looking to take over a short-term vehicle lease. The marketplace has several thousands of cars and trucks available for transfer to anywhere in the continental U.S.