SOURCE: Swapalease, Inc.

Swapalease, Inc.

May 11, 2016 11:16 ET

Lease Credit Approvals Mirroring Broader Consumer Confidence Trends

Lease Credit Approvals Rise 3.2% from Last Month

CINCINNATI, OH--(Marketwired - May 11, 2016) -  Swapalease.com, the nation's largest car lease marketplace, reports car lease credit approvals registered a 69.9% approval rate for April, a slight bounce back from the pace of approvals (66.7%) seen in March.

The return to monthly volatility in auto lease credit approvals, with the rate up one month and down the next, is mirroring consumer confidence trends in the economy. Consumer confidence was down in the month of April at 94.2, a dip from March when the number was at 96.1. According to the United States Consumer Sentiment Forecast, consumer confidence is expected to continue to rise and fall from month to month. While this could impact other areas of the economy, it is expected to have minimal impact to the auto industry, as sales are again forecast to be strong throughout 2016.

"While we're seeing plenty of growth still in the marketplace, particularly with trucks and luxury cars, the rate of vehicle lease credit approvals is an important indicator for lease environments," said Scot Hall, Executive Vice President of Swapalease.com. "We anticipate the lease credit approvals to remain volatile for the next few months while the environment for leasing remains robust."

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 several thousands of cars and trucks available for transfer to anywhere in the continental U.S.

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.

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