Lease Credit Approval Rates Rise to 72.3% Entering March
Online credit applications increase as shoppers seek alternative means of vehicle acquisition.

Online credit applications increase as shoppers seek alternative means of vehicle acquisition.
CINCINNATI – Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.3% approval rate in February, an increase from the January rate of 70%. The desire to have more flexibility in a lease has continued to be a primary driver for more people to seek vehicle leases with shorter terms that they can afford on secondary markets such as Swapalease.com.
We will closely monitor how these trends evolve with COVID-19 on everyone’s minds these days.
According to a recent article from BHPH Report, dealers that have begun making credit applications conveniently available to shoppers online have also seen a spike in credit applications.
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% of lease applicants were approved. In February of 2018, 65.2% of applicants were approved.
February data showed that 72.2% of applicants were approved in February 2017, and 70% were approved in February 2016.
“We are seeing an increase in the number of applicants looking to take over another person’s lease in February, as shoppers have been seeking alternative outlets like Swapalease.com to find vehicles with terms that suit their unique and personal needs,” said Scot Hall, Executive Vice President of Swapalease.com. “Shoppers want faster credit decisions and vehicle options available to them, right at their fingertips from the convenience of their own home. We will closely monitor how these trends evolve with COVID-19 on everyone’s minds these days.”
Swapalease.com matches a person wanting out of their existing vehicle lease contract with a car shopper looking to take over a short-term vehicle lease. The marketplace has thousands of cars and trucks available for transfer to anywhere in the continental U.S.
Originally posted on F&I and Showroom
More Dealer Ops

Dealer Debrief: Defection Data & EV Updates
In this week's debrief, host Lauren Lawrence discusses how to use defection data to your advantage and the latest on EV sales and charging infrastructure.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Dealer Debrief: Where are you losing customers?
In this week's debrief, host Lauren Lawrence discusses the hidden leaks in dealerships where you might be losing customers without even realizing it.
Read More →
Dealer Debrief: Improving Your Inventory Management
In this week's debrief, host Lauren Lawrence covers a new survey that shows what service technicians really want and two launches that could help improve your inventory and vehicle life cycle management.
Read More →
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
What Market Timing Mistakes Mean for Your Reinsurance Program
When volatility hits, dealer-owned reinsurance programs face a familiar temptation: pull back and wait for calmer waters. New data from BOK Financial shows why that instinct can quietly cost you years of surplus growth.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
