Automotive Digital Marketing

Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders

Loading... Be Patient!

LEASE CREDIT APPROVAL RATES CLIMB TO 68.6% IN MAY

Credit Approvals See Significant Rebound from April Rates

CINCINNATI, OHIO (June 18, 2020) – Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 68.6% approval rate in May, a significant increase from the April rate of 63.8%. The +7.6% increase is likely related to an influx of online shoppers who are seeking alternative means of vehicle acquisition during COVID-19. Shoppers continue to seek out online marketplaces in lieu of dealership visits.

Secondary markets, such as Swapalease.com provide automotive shoppers with feasible alternative solutions that fit their current lifestyle, which may be altered by shelter in place or work from home arrangements.    

Despite unusual circumstances lease credit approval rates have remained stable when compared to data from the month of May in 2019 and 2018. In 2019, 72.4% of applications looking to take over someone else’s lease were approved. In May of 2018, only 67.9% of applicants were approved.

“We’re seeing a significant shift in the way consumers are shopping for their next vehicle and an increase in shoppers who are seeking shorter-term financial commitments with lower monthly payments,” said Scot Hall, Executive Vice President of Swapalease.com. “Alternative marketplaces like Swapalease.com may be more appealing to individuals who find themselves temporarily in a more challenging financial situation.”

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 thousands of cars and trucks available for transfer to anywhere in the continental U.S.


About Swapalease.com:

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.

Views: 9

Comment

Oops... You need to stop "Lurking" on ADM and become a more genuine Automotive Professional by completing your membership registration. As a registered ADM Member, you can post comments, publish your own articles (be a star!) and start Forum discussions. Stop being an online "Peeping Tom" and JOIN ADM RIGHT NOW!

Join Automotive Digital Marketing

Automotive Professional Network and Resource Exchange for Car Dealers, Managers, OEM and Marketing Practitioners seeking Best Practices.

ADM Sponsor

William B. Terry
Rated by Super Lawyers


loading ...

ADM Badge

Loading…

Based On Your Interests...

ADM Consulting, LLC

Onsite/Offsite Combination ADM Consulting, LLC Professional Services
Select the maximum monthly investment you plan to make
$USD
Sign up for

Automotive Marketing Tools

Get ADM Toolbar

Click here to take the ADM Member Survey

Getting too many emails from ADM? Click mailbox below to control which types of alerts and updates you are sent......


Instagram

SaveSave

ADM Professional Services
Phone Consultation
Topic or Issue:

Top Automotive Marketing Forum Discussions

Share the Best Content w/AutoMarketing Community

© 2020   Created by Ralph Paglia.   Powered by

ADM Badges  |  Report an Issue  |  Terms of Service