Lease Credit Approval Rates Rise to 70% For May

Categories


LEASE CREDIT APPROVAL RATES RISE TO 70% FOR MAY

Lease Approval Ratings Continue to Climb Following Steady Monthly Approval Increases since January

Cincinnati, OH (May 30, 2018)

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 70% approval rate entering May, a rise from the previous month’s rate of 67.3%.

April experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. April has statistically been a slower month for lease approval ratings, as 60% of lease applicants were approved during the month of April in 2017. April showed a slightly higher number of lease applicants, as well as a higher approval rating than the applicants for the month of March.

Since January, the lease approval rate for the previous four months overall has registered 65.5%. Lease approvals have been slowly increasing since January, after the month experienced an unusual decline in approvals, pushing the rate down to 57.8%. The approval rate was up in February and March, and now again in April.

“Lease credit approvals continue to show more stability as we move through spring and into the summer months,” said Scot Hall, Executive Vice President of Swapalease.com. “We attribute much of this stability to an increased number of applicants who are shopping on the site and looking for attractive deals they may not be finding at dealerships. With a still strong economy, we’re seeing a larger number of credit-qualified applicants going through the system.”

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.