LEASE CREDIT APPROVAL RATES RISE TO 72.4 % IN MAY

Lease Approval Ratings in May reach Their Highest Number Yet for 2019

Cincinnati, OH (June 19, 2019)

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.4% approval rate in May, a slight rise from the April rate of 72%.

May experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. May saw an increase in approval ratings from the previous year, where 67.9% of lease applicants were approved. What’s more, May experienced a significant dip in 2017, where only 48.1% of applicants were approved.

Since January, the lease approval rate has continued to rise, with May being the strongest month of the year so far.

“The approval rates in May surely reflect strength in the economy, as well as strength in consumer credit and spending habits,” said Scot Hall, Executive Vice President of Swapalease.com. “We’ve found that with dealers offering fewer incentives on new lease deals, consumers are searching for alternate means to obtain vehicles they desire. Secondary lease transfer marketplaces such as Swapalease continue to grow in popularity.”

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.