SOURCE: Swapalease.com

April 14, 2016 09:30 ET

Lease Credit Approvals Dip Lower Than Expected in March

Lease Credit Approvals Drop 4.6% from Last Month; Weakening Demand for Vehicles Clouds Outlook

CINCINNATI, OH--(Marketwired - April 14, 2016) -  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%.

Auto lease credit approvals may be falling back into the trend of late 2015, with lower approval percentages. While the monthly lease approvals are up 0.6% from a year ago, in comparison to the previous month, vehicle lease credit approvals have taken a slight dip.

"We think consumer credit remains generally healthy in the broader picture, and we're more than likely experiencing the normal ups and downs of a healthy market," said Scot Hall, Executive Vice President of Swapalease.com. "As always, we'll continue to keep a watchful eye on this latest dip, particularly against recent data that shows interest in motor vehicles may be peaking."

Although consumer confidence is currently exceeding the forecasted percentage for the month, the percentage of consumers who said that they would be buying a motor vehicle also slipped 1.6% from last month as reported in Bloomberg recently. This, mixed with a recent increase in gas prices, could mean a peak for auto sales in 2016.

About Swapalease.com:

Headquartered in Cincinnati, Ohio, Swapalease.com is the world's 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's 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.

Contact Information