Lease Approval Ratings in December Reach Their Highest Number Since August
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 71.4% approval rate in December, a rise from the November rate of 68.9%.
December experienced a slightly lower number of applicants with qualifications for taking over another person’s lease contract during the month, yet one of the highest approval rates. December saw a significant increase in approval ratings from December 2017 approval numbers, where 62% of lease applicants were approved the previous year.
Since January 2018, lease credit approval ratings rose consistently throughout the year, and experienced only slight fluctuations between 57.8% to 72.6%. August was the strongest month of the year, followed by December- making December the second highest month for credit approvals.
“Reflecting on the credit approval ratings for lease applicants in 2018 speaks to the confidence of the American consumer in the economy this past year,” said Scot Hall, Executive Vice President of Swapalease.com. “With new lease prices slightly increasing, incentives on new leases falling at the dealership, it’s not surprising shoppers continued to seek alternative outlets such as Swapalease.com for their next vehicle.”
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.