Despite site executives still taking a cautious approach about the impact subprime applicants and millennials carrying student loan debt, Swapalease.com highlighted lease credit approvals for January started out on a high note.

Swapalease.com reported approvals finishing at 75.0 percent for the month. The site acknowledged the jump in approvals illustrates the ongoing volatility in the indicator after December saw only 60.9 percent approvals.

Over the last three months, the auto lease credit approval rate has been slightly above average at 72.5 percent, compared with the overall 2014 rate that saw 69.0 percent approvals.

Several areas continue to present mild concern for Swapalease.com executives, including a growing number of younger shoppers with student debt, as well as millennials who may not have the right amount of credit history to qualify for a lease.

A third area Swapalease.com executives are monitoring is the volume of subprime shoppers entering the market.

According to a recent report by Equifax, nearly four out of every 10 approvals for auto loans, credit cards and personal borrowing were given to subprime borrowers in 2014. And while the credit reporting agency shows that these borrowers are improving their credit scores three years after taking out their loans, Swapalease.com executive vice president Scot Hall insisted leasing remains a challenge for subprime customers.

Hall noted A larger number of subprime customers have also entered the Swapalease.com market, with many seeing declines from banks that scrutinize their credit when applying to take over someone else's existing car lease contract.

“It’s difficult to get a read on the clear direction for car lease credit approvals right now, but we believe in the overall picture we will continue to trend in an upward projection,” Hall said.

“January has traditionally been a strong month for lease approvals, so we aren’t terribly surprised that the number saw a bounce back from December and end-of-year levels,” he added.