LEASE CREDIT APPROVAL RATES RISE TO 67.3% IN MARCH

Lease Approval Ratings Continue to Improve in March Following Steady Monthly Approval Increases in Q1

Cincinnati, OH (April 17, 2018)

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 67.3% approval rate in March, a rise from the February rate of 65.2%.

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 has statistically been a strong month for lease approval ratings, as 75% of lease applicants were also approved during the month of March in 2017. March showed a slightly lower number of lease applicants, yet a higher approval rating than the applicants for the month of February.

Since January, the lease approval rate for the previous three months overall has registered 63.9%. 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 again in February, and even higher into the month of March.

“The last three months have shown a little less volatility in the lease approvals rate, perhaps a sign of a higher concentration of lease shoppers with slightly stronger credit for taking over a lease,” said Scot Hall, Executive Vice President at Swapalease.com. “It’s possible we’re beginning to see a little more overflow from dealerships where people with good credit are finding attractive offers on the Swapalease online marketplace as an alternate channel for lease shopping.”

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.