Swapalease: Lack of Dealer Incentives Fuels Secondary Lease Market
Swapalease reports credit approval rates on its online marketplace dipped slightly in March, but traffic is up as consumers encounter high lease prices at dealerships.

Swapalease analysts say high lease prices at the dealership are driving prospective new-vehicle lessees to secondary markets.
Photo by Christina Morillo via Pexels
CINCINNATI — Car lease marketplace Swapalease.com reports car lease credit applicants registered a 65.9% approval rate in February, a decrease from the January rate of 67.6%. Lease prices at the dealership are driving more people to seek existing leases offered at “yesterday’s prices” on secondary markets, analysts said, citing Edmunds.com data showing U.S. lessees are paying as much as 26% more than they did in 2016, and more than $1,600 over the life of the lease on average. Record-high vehicle prices, weakening residuals, and rising interest rates were listed as the primary causes.
February saw a slight increase in approval ratings in comparison to February 2018, when only 65.2% of lease applicants were approved. However, the past two years have experienced slightly lower approval ratings when compared with February 2016 (70%) and February 2017 (72.2%).
“We are seeing an increase in the number of applicants looking to take over another person’s lease this month, which usually result in more non-approvals from people who do not have the credentials to take over a lease,” said Scot Hall, executive vice president of Swapalease.com. “Shoppers are seeking alternative outlets like Swapalease.com to shop for new leases, knowing they can find a better deal than what is currently being offered at the dealership.”
Originally posted on F&I and Showroom
More Dealer Ops

Surface-Level Vehicle Inspections Don’t Do the Job
The approach is an easily avoided costly mistake for dealerships that could otherwise catch problems on the front end with easily obtained data.
Read More →
How to Avoid Phone Scams | Dealer Debrief 09/10/2026
Are you taking the necessary steps to protect your dealership and customer data from phone-based scams? This week's Dealer Debrief breaks down how!
Read More →
Dealer Debrief: August Auto Sales
Gas-powered engines still dominate the U.S. vehicle market, but hybrids are gaining ground as consumers look for ways to cut their gas costs.
Read More →
Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
Read More →
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 →
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 →