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Lease Credit Approval Rates Rise to 72.3% Entering March

Online credit applications increase as shoppers seek alternative means of vehicle acquisition.

March 19, 2020
Lease Credit Approval Rates Rise to 72.3% Entering March

Online credit applications increase as shoppers seek alternative means of vehicle acquisition.

2 min to read


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.

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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.

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