SOURCE: Swapalease.com

Swapalease.com

December 12, 2016 11:08 ET

November Lease Credit Approval Rates up From a Year Ago

Lease Credit Approval Rates Increase 6.8% From November 2015

CINCINNATI, OH--(Marketwired - December 12, 2016) - Swapalease.com, the nation's largest car lease marketplace, reports car lease credit applicants registered a 64.7% approval rate for November, a 3.2% increase from the previous month (61.5%). A year ago, the approvals rate was just 57.9% during the same month.

This year's approval rates have been down in comparison to 2015. The lease credit approvals rates have been fluctuating on a month-to-month basis. So far this year, the average credit approval rating has been 63.8%.

Although 2016's numbers have remained relatively low throughout the year, both October and November have produced higher credit approval rates than the same months in the previous year.

"Although the credit rates have bounced back from last month we don't expect that to skyrocket anytime soon," said Scot Hall, Executive Vice President of Swapalease.com. "The end of the year usually yields lower numbers for a variety of reasons, including an increase in shopping activity overall."

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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