While at least in some places of the country the weather is improving, over at Swapalease.com, site officials are noticing an enhancement to lease-transfer approvals, too.
According to an update shared on Tuesday, Swapalease.com reported vehicle lease credit applicants registered a 67.3 percent approval rate in March, a rise from the February rate of 65.2 percent.
The site indicated March experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. Swapalease.com also pointed out March has statistically been a strong month for lease approval ratings, as 75 percent of lease applicants were also approved during the month of March last year.
This March showed a slightly lower number of lease applicants, yet a higher approval rating than the applicants for the month of February, according to the site’s analysis.
Since January, Swapalease.com highlighted the lease approval rate for the previous three months overall has registered in at 63.9 percent. Lease approvals have been slowly increasing since January, after the month experienced an unusual decline in approvals, pushing the rate down to 57.8 percent.
The approval rate was up again in February, and even higher into the month of March.
“The last three months have shown a little less volatility in the lease approvals rate, perhaps a sign of a higher concentration of lease shoppers with slightly stronger credit for taking over a lease,” said Scot Hall, executive vice president at Swapalease.com.
“It’s possible we’re beginning to see a little more overflow from dealerships where people with good credit are finding attractive offers on the Swapalease online marketplace as an alternate channel for lease shopping,” Hall went on to say.