March Credit Trends

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LEASE CREDIT APPROVAL RATES RISE TO 70.7% IN MARCH

Lease Approval Ratings in March Reach Their Highest Rate Since October of 2018 with an Increase of 4.8% this month

Cincinnati, OH (April 10, 2019)

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 70.7% approval rate in March, a rise from the February rate of 65.9%.

March experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. March saw a slight increase in approval ratings from the previous year, where 67.3% of lease applicants were approved last March.

Since January, the lease approval rate has continued to rise, making March the strongest month of the first quarter. Approval ratings registered at 67.6% in January, followed by a slight dip in approval ratings for February, bringing the approval rate down to to 65.9%.

“We are impressed by the number of applicants looking to take over another person’s lease for the month of March, as well as the increase in lease approvals,” said Scot Hall, Executive Vice President of Swapalease.com. “It is very likely that we saw more activity in March from people receiving their tax rebate checks and using them toward a lease in our marketplace, which in many cases avoids a down payment.”

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.