Lease Approvals Rise in February

By Staff Writer March 23, 2020

Swapalease, a car lease marketplace, reports car lease credit applicants registered a 72.3 percent approval rate in February, an increase from the January rate of 70 percent, though everything may change in the wake of the coronavirus.

February experienced a slightly higher number of applicants with qualifications for taking over another person’s lease contract during the month and a higher approval rating. February saw a slight increase in approval ratings in comparison to February 2019, where only 65.9 percent of lease applicants were approved. In February of 2018, 65.2 percent of applicants were approved.

“We will closely monitor how these trends evolve with COVID-19 on everyone’s minds these days, said Scot Hall, executive vice president of Swapalease. “Shoppers want faster credit decisions and vehicle options available to them, right at their fingertips from the convenience of their own home.

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Last modified on Tuesday, 24 March 2020 14:57

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