Approvals for vehicle leases fell 14.5% to 54.3% in July from the prior month partly because an influx of students with lower credit scores applied for vehicle leases ahead of the college school year, reports Swaplease.com.
About 68.8% of the people that applied for leases in June were approved, a 20% improvement over the month before, according to car lease marketplace Swapalease.com.
Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com.
Household debt rose by $226 billion to $12.58 trillion in the fourth quarter 2018, the highest quarterly increase since the fourth quarter 2013. It now sits just below its peak of $12.68 trillion in the third quarter 2008, according to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York.
Primeritus Financial Services, Inc., a provider of recovery management, skip tracing, and remarketing services to the U.S. auto finance industry, has acquired Global Investigative Services, LLC (GIS), according to a company announcement.