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