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Lease Approval Ratings in April Reach Their Highest Since August of 2018, making it the strongest month of the year
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72% approval rate in April, a rise from the March rate of 70.7%.
April experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. April saw a slight increase in approval ratings from the previous year, where 70% of lease applicants were approved last April. Only 60% of applicants were approved in April of 2017.
Since January, the lease approval rate has continued to rise, with April leading strong into the second quarter. Approval ratings registered at 65.9% in February, followed by an increase in approval ratings for March, bringing the approval rating up to 70.7%.
“We’re continually impressed with the increase in number of applicants, as well as with the increase in lease credit approvals,” said Scot Hall, Executive Vice President of Swapalease.com. “Prices on new vehicles continue to rise, as does consumer uncertainty surrounding lack of incentives at the dealership. As a result, we continue to see a growing number of shoppers seeking alternate channels for their next vehicle, such as the secondary lease transfer marketplace.”
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.
Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.