Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
Leasing activity was up in the second quarter of 2018, due in part to a growing use of lease incentives.
With the labor market continuing to strengthen and economic activity rising at a solid rate, the Federal Reserve raised the Federal Funds Rate a quarter percentage point for the second time this year — putting the target for short-term rates in the 1.75 to 2% range.
Retail leasing applicants registered a 70% approval rate on Swapalease during April, a 10% increase from the same time last year, the company announced.
The numbers reveal a number of factories, including Ford, are targeting compact and midsize inventory. Ford offered the most generous discounts on vehicles in those segments.
Lease approval rates registered 67.3% for Swapalease.com in March, which were 2% higher than the month before and signify a possible upswing in approval rates, according to the company.
This wave of off-lease vehicles is expected to be one of the biggest threats that the new-vehicle industry will face this year and the next. And, it won’t just be the sheer volume of relatively new, low-mileage vehicles that will pose a risk to the new-industry; it’ll be the types of off-lease vehicles returning to market that will present the biggest hurdle.
Lease credit approval ratings came in at 55.6% in October, an improvement over the 47.6% approval rating registered the month before, according to data from Swapalease.com.
With the number of off-lease vehicles coming into the used car market projected to grow in the coming years, it might be the time for used car leasing to make a return, which would boost demand and price at wholesale for several used car segments, according to Swapalease.com.
Lease credit approvals reached 68.3% in August, a 14% increase from the previous month and an 11% increase from the same time last year, according to lease marketplace Swapalease.
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