Lease Approval Ratings Increase by 4% in the Month of September, Reaching the Highest Approval Rating Since March of 2016
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.9% approval rate in September, a 4% increase from the August rate of 68.9%. September had the highest number of credit approvals in nearly three years. The last time credit approvals registered higher than 72.9% was in March of 2016, where 75% of applicants were approved.
The number of lease approvals is relatively high for the month of September, considering 69.8% of lease applicants were approved in 2018 and only 47.6% were approved in 2017.
Lease credit approvals have been relatively consistent since January, with only slight fluctuations and an unexpected dip in June. Approval rates were up again in July and have remained steady until September.
“It’s clear that consumer spending has remained healthy, fueling a strong credit approval rating for the month of September,” said Scot Hall, Executive Vice President of Swapalease.com. “It will be interesting to see how spending habits will evolve and change as we approach the holiday shopping season.”
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.