LEASE CREDIT APPROVAL RATES DROP SLIGHTLY TO 69.8% IN SEPTEMBER

Lease Approval Ratings Drop by 3.9% in the Month of September after Steady Increases over Previous Four Months

Cincinnati, OH (October 16, 2018)

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 69.8% approval rate in September, a 3.9% drop from the August rate of 72.6%. Lease approvals experienced a slight dip after approvals had been increasing steadily over the last four months.

The number of lease approvals is relatively high for the month of September, as only 47.6% of lease applicants were approved in 2017, and 64.7% were approved in September of 2016. The lease approval rate for the previous three months is registered at 68.8%.

Lease approvals have been slowly increasing since January, with a slight dip in approvals during the month of May. The approval rate was up again in June, and has maintained a steady increase every month until September, which also experienced the lowest number of applicants who were looking to get into a new lease since January.

“Automotive shopping was unusually strong during the summer months due to the shopper confidence and the strength of the economy,” said Scot Hall, Executive Vice President of Swapalease.com. “We’ve seen a slightly lower number of applicants for September, which we expect to increase again pending the upcoming holiday shopping season.”

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.