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Lease Approval Ratings in August Reach Their Highest Number Yet for 2018
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.6% approval rate in August, a rise from the July rate of 71.2%.
August experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. August saw a slight increase in approval ratings from August 2017 approval numbers, where 68.3% of lease applicants were approved the previous year.
Since January, the lease approval rate has continued to rise, making August the strongest month of the year thus far. Approval ratings rose from 57.8% in January to 70% in April, and then experienced a slight decline for the month of May (67.9%). Since June, ratings have increasing again each month.
“We are continually impressed with the increase in number of applicants, as well as with the increase in lease approvals,” said Scot Hall, Executive Vice President of Swapalease.com. “The strong economy is certainly helping boost the credit approval rate for lease transfer applicants, but as prices on new vehicles keep rising and incentives continue to fall, we believe a growing number of shoppers will seek 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.