December Credit Trends

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LEASE CREDIT APPROVAL RATES RISE TO 71.4% TO CLOSE OUT 2018

Lease Approval Ratings in December Reach Their Highest Number Since August

Cincinnati, OH (January 11, 2019)

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 71.4% approval rate in December, a rise from the November rate of 68.9%.

December experienced a slightly lower number of applicants with qualifications for taking over another person’s lease contract during the month, yet one of the highest approval rates. December saw a significant increase in approval ratings from December 2017 approval numbers, where 62% of lease applicants were approved the previous year.

Since January 2018, lease credit approval ratings rose consistently throughout the year, and experienced only slight fluctuations between 57.8% to 72.6%. August was the strongest month of the year, followed by December- making December the second highest month for credit approvals.

“Reflecting on the credit approval ratings for lease applicants in 2018 speaks to the confidence of the American consumer in the economy this past year,” said Scot Hall, Executive Vice President of Swapalease.com. “With new lease prices slightly increasing, incentives on new leases falling at the dealership, it’s not surprising shoppers continued to seek alternative outlets such as Swapalease.com for their next vehicle.”

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.