Vehicle-lease transfer approvals jump to highest point in nearly 3 years
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CINCINNATI –
Swapalease.com reported the highest number of credit approvals for vehicle-lease transfers in nearly three years.
Site officials said this week that the approval rate in September came in at 72.9%, representing a 4% increase from the August rate of 68.9%.
The last time credit approvals on Swapalease.com rose higher than 72.9% was in March 2016 when 75% of applicants were approved.
The site also mentioned the number of lease approvals is relatively high for the month of September, considering 69.8% of lease applicants were approved in 2018 and only 47.6% were approved in 2017.
Scot Hall, executive vice president of Swapalease.com, noted that lease credit approvals have been relatively consistent since January, with only slight fluctuations and an unexpected dip in June. Approval rates jumped up again in July and have remained steady until September.
“It’s clear that consumer spending has remained healthy, fueling a strong credit approval rating for the month of September,” Hall said in a news release.
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“It will be interesting to see how spending habits will evolve and change as we approach the holiday shopping season,” he added.
