SOURCE: Swapalease.com

Swapalease.com

February 23, 2016 12:13 ET

Lease Credit Approvals Remain Down but See Slight Lift From December Levels

CINCINNATI, OH--(Marketwired - February 23, 2016) -  Swapalease.com, the nation's largest car lease marketplace, reports car lease credit approvals began 2016 lower than what they had shown during the last two quarters of 2015, but also showed a marked improvement from the December dip. January auto lease credit approvals finished at 63.6%, higher than the December mark of 54.5% when the year finished on a down note.

Sales in the broader automotive industry remains at near-record levels, although the pace of sales from year to year has begun to cool off. The vehicle lease credit approvals rating mirrors other closely watched economic indicators which have been mixed lately. While consumer confidence dropped slightly in February, to 105.8 down from 106.4, the expected personal finances index rose to 126 from 124. Both figures closely watched by the University of Michigan index of consumer sentiment.

"While lease approvals have been slightly down over the last few months, it's difficult to say this is any meaningful trend at this point, especially given the sales success seen in showrooms currently," said Scot Hall, Executive Vice President of Swapalease.com. "The numbers do bear watching more closely, though, as several more months of this level of activity could indicate a softening of the overall credit environment for consumers and car shoppers."

Also of note, the lease credit approvals rating showed more volatility during the first and second quarter of last year before picking up momentum toward the latter half of the year. Swapalease.com executives will be monitoring broader trends to identify any possible year-over-year patterns.

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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