SWAPALEASE.COM REPORTS DECLINE IN LEASE CREDIT APPROVALS FOR THE MONTH OF JULY

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered just a 54.3% approval rate for July.

July’s credit approval rate is showing a decrease from the previous month (68.8%). A year ago the approvals rate was just slightly higher, reaching 57.7%. Overall, this year’s credit approval numbers have been somewhat lower than in years past. 

This dip in lease credit approvals continues to be attributed to several factors that include a higher volume of lease applicants with less-than-stellar credit worthiness, as well as a higher number of applicants looking for vehicles in higher-priced categories. During this time of year, Swapalease.com typically sees a dip in the approval ratings because students with lower credit scores are looking for vehicle leases entering the new college school year. 

“Both the state of the economy and the increased number of applicants indicate that more consumers are ready to lease vehicles,” said Scot Hall, Executive Vice President of Swapalease.com. “Unfortunately, their credit doesn’t always reflect that readiness. As the economy continues to improve, giving more people the incentive to lease vehicles out of their reach, we expect to the number of declines to be higher than normal.”

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.


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: 13

Comment

You need to be a member of DealerELITE.net to add comments!

Join DealerELITE.net

About

DealerELITE created this Ning Network.

Blog Posts

You Had Me at Hello

Posted by Stephen Coambes on September 25, 2017 at 9:30am 0 Comments

Automotive safety tips

Posted by Asad Shoaib on September 23, 2017 at 5:10am 0 Comments

In the early 1900s, there is no protection system for the car. Many road accidents take place at that time, and the people get injured due to this reason. Many cars got damaged at that point, and the death rate is increasing. The action takes…

Continue

Secure Your Vehicle With Best Car Insurance Policy

Posted by Samuel on September 22, 2017 at 11:06am 0 Comments

Are you looking for the best way to secure your vehicle using perfect insurance coverage? Motorist.sg brings you the convenient insurance coverage at lowest price. Finding more than 10 insurers with appropriate coverage…

Continue

de sponsor

Get Newsletter

dE Sponsor

© 2017   Created by DealerELITE.   Powered by

Badges  |  Report an Issue  |  Terms of Service