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.
The decline came as a result of a higher-than-average number of applicants in January. More people looking to get into a lease during the month, allowed for a higher number of people to not qualify for a lease, according Swapalease.com.
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.
Lease credit approval fell to 47.6% in September, the lowest percentage of the year and a noticeable drop from the 68.3% that was reported in August, according to car lease marketplace 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.
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.
Auto lease activity remained essentially flat, compared to the previous several quarters, according to Swapalease.com, an online marketplace that allows consumers to transfer their lease contracts with other interested individuals.
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.
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit approvals are lower again after a hike in February levels. Auto lease credit approvals for the month of March finished at 66.7%, down from the February mark of 70%.
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