Lease credit approvals on Swapalease’s marketplace took a small dip in June, falling to 68.4%, the company noted in an announcement.
Lease activity on Swapalease has remained healthy even as lease origination activity at dealerships has been down slightly through 2018 compared to the year before, the company added.
“We’re seeing a few more applicants with quality credit to take over leases in the marketplace, most likely as a result of higher lease costs at the dealership,” said Scot Hall, Executive Vice President of Swapalease.com. “An additional benefit of taking over an existing lease is that the buyer is insulated from economic changes affecting dealership prices, such as higher interest rates or lower incentives offered at present day.”
See all comments