Swapalease.com reported vehicle lease credit applicants registered a 64.7-percent approval rate for November, a 3.2-percent increase from the previous month as the October reading stood at 61.5 percent.

A year ago, analysts pointed out that the approvals rate was just 57.9 percent during the same month.

The site acknowledged 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 percent.

Although 2016's numbers have remained relatively low throughout the year, Swapalease.com executive vice president Scot Hall noted 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,” Hall said. “The end of the year usually yields lower numbers for a variety of reasons, including an increase in shopping activity overall.”