{"id":413445,"date":"2021-01-12T15:14:43","date_gmt":"2021-01-12T20:14:43","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=413445"},"modified":"2021-01-12T15:14:43","modified_gmt":"2021-01-12T20:14:43","slug":"lease-credit-approval-rates-rise-to-72-7-in-december","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lease-credit-approval-rates-rise-to-72-7-in-december\/","title":{"rendered":"Lease Credit Approval Rates Rise to 72.7% in December"},"content":{"rendered":"

\nLease Credit Approval Rates Rise to Highest Percentage of the Year During Holiday Season
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\n

CINCINNATI, Jan. 12, 2021 (GLOBE NEWSWIRE) — Swapalease.com, the nation\u2019s largest car lease marketplace, reports car lease credit applicants registered a 72.7% approval rate in December. The approval rate is significant considering approval ratings hit a low of 63.8% in April, the lowest rate reported since January of 2018.<\/p>\n

With the holiday season being an optimal time to buy or lease a vehicle, it is no surprise that approval ratings saw an increase in December. According to Experian\u2019s State of the Automotive Finance Market Report<\/a>, in the second quarter of 2020, nearly 26% of new vehicles were leased. While this number is down from pre-pandemic levels, Swapalease.com believes many of its site visitors have solid credentials available to take over a person\u2019s vehicle lease. The inclination to have more flexibility through leasing amidst economic uncertainly may contribute to a rise in shoppers who are looking to lease vehicles.<\/p>\n

December has historically turned out a higher lease credit approval rating, likely due to end of year sales and lease deals. In December of 2019, 72% of applicants were approved to take over another person\u2019s lease, and in December of 2018, 71.4% of applicants were approved.<\/p>\n

\u201cThe automotive industry took a hard hit in early 2020, especially as stay-at-home mandates were implemented and businesses were temporarily shut down,\u201d said Scot Hall, Executive Vice President of Operations at Swapalease.com. \u201cWe\u2019ve continued to see slight increases month-over-month since May, and we\u2019re optimistic at the outlook for the 2021 calendar year.\u201d<\/p>\n

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 thousands of cars and trucks available for transfer to anywhere in the continental U.S.<\/p>\n

About Swapalease.com: <\/strong>
Headquartered in Cincinnati, Ohio, Swapalease.com is the world\u2019s 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\u2019s 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<\/a>.<\/p>\n

Press Contact:
Erica Olson
Merit Mile
EOlson@meritmile.com
O \u2013 561-362-8888<\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

Lease Credit Approval Rates Rise to Highest Percentage of the Year During Holiday Season CINCINNATI, Jan. 12, 2021 (GLOBE NEWSWIRE) — Swapalease.com, the nation\u2019s largest car lease marketplace, reports car lease credit applicants registered a 72.7% approval rate in December. The approval rate is significant considering approval ratings hit a low of 63.8% in April, the lowest rate reported since January of 2018. With the holiday season being an optimal time to buy or lease a vehicle, it is no surprise that approval ratings saw an increase in December. According to Experian\u2019s State of the Automotive Finance Market Report, in the second quarter of 2020, nearly 26% of new vehicles were leased. While this number is down from pre-pandemic levels, … <\/p>\n

Continue reading “Lease Credit Approval Rates Rise to 72.7% in December”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-413445","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLease Credit Approval Rates Rise to 72.7% in December - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lease-credit-approval-rates-rise-to-72-7-in-december\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lease Credit Approval Rates Rise to 72.7% in December - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Lease Credit Approval Rates Rise to Highest Percentage of the Year During Holiday Season CINCINNATI, Jan. 12, 2021 (GLOBE NEWSWIRE) — Swapalease.com, the nation\u2019s largest car lease marketplace, reports car lease credit applicants registered a 72.7% approval rate in December. The approval rate is significant considering approval ratings hit a low of 63.8% in April, the lowest rate reported since January of 2018. With the holiday season being an optimal time to buy or lease a vehicle, it is no surprise that approval ratings saw an increase in December. According to Experian\u2019s State of the Automotive Finance Market Report, in the second quarter of 2020, nearly 26% of new vehicles were leased. 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