Approval rates on Swapalease’s online marketplace were up 4.8% in March, registering a 70.7% approval rate, the highest since October.
September’s rate was recorded after August’s 68.3% approval rate. The car leasing marketplace attributed September’s rate to the effects of hurricanes Harvey and Irma.
Swapalease.com’s second-quarter report shows growing interest in sport utilities, crossover SUVs and sporty models.
Lease applicants registered a 48.1% approval rate, the lowest level since the car lease marketplace began tracking the stat in 2014. The firm explained that the rise in consumer interest for luxury SUVs is what’s driving the uptick in declines.
Despite rising incentives and an increase in the number of lease returns to dealerships, auto dealers continue to push lease deals. And according to the online lease marketplace, approval rates have hovered above 70% for two straight months so far in 2017.
Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com.
A survey conducted by Swapalease.com found that both dealers and car buyers are interested in used-vehicle leasing. Top used vehicles consumers would like to lease include the Cadillac Escalade, CTS, and the Jeep Cherokee, while dealers would like to offer used leases on the Buick Regal, Cadillac CTS and Chevrolet Cruze.
The lease approval rate jumped 31% from March to April, the highest since November 2014, Swapalease.com reports.
Swapalease.com released a new study that shows a majority of customers aren’t interested in car-sharing services or autonomous driving. What they do want is lenders bidding for their business.
Eighty percent of the cars and trucks in the Swapalease.com auto lease marketplace are in the gray family, including white and black.
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