CINCINNATI -

As new-car sales aren’t experiencing the usual summer slump, lease approvals are on the way up as well as we approach August.

According to lease marketplace Swapalease.com, lease credit approvals experienced a “healthy rebound” from June levels this month.

Lease approvals are up 3.5 percent from June to an overall approval rate of 72 percent, compared to 69.6 percent last month.

“Leasing continues to rise throughout the entire auto industry, with particular interest from younger drivers,” said Scot Hall, executive vice president of Swapalease.com. “Our marketplace remains an attractive option for these drivers to exercise their ability to change cars more frequently, and without harm to their credit.”

Year-to-date approvals are up, as well, with approval rates standing at 68 percent, which is up from the 64.5 percent rate seen during the same period of last year. The site noted the 2015 six-month mark is close to the “healthy” average of 70 percent that the company had historically benchmarked.

Swapalease.com management attributed the positive July numbers to continued summer strength in dealer showrooms, with continuous growth in sales.

Compared to the previous year, the lease credit approvals rate has been steadily improving, the site reported.

That said, Swapalease execs did point out the lease credit approval rate has been a bit volatile over the past year.

This could be due to the fact the site is seeing a steady flow of credit-challenged individuals with subprime credit as well as millennials in the market for  a lease, many of which might not have the credit history or funds to secure such a deal.

But many millennials are surprising the industry and leaning more toward the leasing market.

In fact, Edmunds.com reported it is seeing a larger-than-average number of millennials in the leasing market, with the 18-34 age group accounting for 28.9 percent of cars sold as leases, compared with the industry average of 26.7 percent.

“Most millennials understand and accept that they’re on a tight budget and that they need to stick to it,” Edmunds.com director of industry analysis Jessica Caldwell said.

“But it doesn’t mean that their financial constraints limit them only to the most basic vehicles to get from Point A to Point B,” Caldwell continued. “If they see a chance to get into a nicer car while staying within their budget, they’re likely to explore that opportunity. In most cases, leasing opens the door to the bells and whistles that they couldn’t otherwise afford.”