LEASE CREDIT APPROVAL RATES RISE TO 72.6% IN AUGUST

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.


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

dE Sponsor

Latest Activity

Black Book posted blog posts
4 hours ago
Brett Sutherlin posted a blog post
4 hours ago
Profile Icon via Twitter
Theory of 5 | BLOG https://t.co/gqzXbbZPZ6
Twitter17 hours ago · Reply · Retweet
Profile Icon via Twitter
Checking out "STAT!" on @dealerELITE: https://t.co/uwBOMLWCLj
Twitter19 hours ago · Reply · Retweet
Profile Icon via Twitter
MENTOR SESSION WITH TONY PROVOST - https://t.co/fRWOKTU2Ma https://t.co/hRPFeamCBd
Twitter19 hours ago · Reply · Retweet
Tony Provost posted a video
22 hours ago
Jim Flint posted a blog post
yesterday
Bill Wittenmyer posted a video

Witt's Wise Words: Does Your Team Understand Your Goals?

VP of Sales, CDK Global, Bill Wittenmyer explains the importance of communicating your goals effectively to your team in this episode of Witt's Wise Words.
Monday

de sponsor

Get Newsletter

dE Sponsor

© 2019   Created by DealerELITE.   Powered by

Badges  |  Report an Issue  |  Terms of Service