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Swapalease: Approvals Dip to 65% in June

Swapalease.com analysts say credit approvals declined after reaching 72.4% in May but report growing demand from consumers seeking lease contracts negotiated when incentives were stronger.

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Rising Loan Amounts Drive Consumers to the Used-Vehicle Market

The auto finance segment is growing at a healthy rate, but average new-vehicle loan amounts are outpacing the market, driving an increasing number of car buyers — including those with prime and superprime credit scores — out of the showroom and onto the used-car lot.

Inovatec Systems Partners With ZestFinance

A new partnership between Inovatec Systems Corp. and ZestFinance was designed to leverage artificial intelligence in an effort to enhance auto lending processes.

Used Vehicle Retention Index Ticks Up in June

Black Book analysts say full-size vans and premium sports cars helped used-vehicle values start summer on a strong note, ticking up 0.6% from May to finish at 115 in June.

Lease Prices Fluctuate for Nissan, Others

Wantalease.com reports changes to lease prices for a range of small, mid-size, and luxury SUVs, led by a 14% increase for the Nissan Pathfinder, as well as some Chevrolet, Cadillac, and Infiniti products.

Black Book Launches Anti-Powerbooking Solution

Black Book has unveiled Asset Verification Tool, a proprietary VIN-level identifier designed to help auto finance sources reduce the risk of fraud at loan origination.

ADT Announces Winners of 2019 Dealers’ Choice Awards

Auto Dealer Today has revealed the winners of the 15th annual Dealers’ Choice Awards, a program that gives dealers and dealership personnel the opportunity to recognize their favorite vendors, suppliers, and finance sources in 35 categories.

Swapalease: Lease Approval Rates Hit 72.4% in May

Credit approval rates on Swapalease.com’s online lease marketplace soared to their highest number yet for 2019 last month, registering a 6.2% year-over-year gain and a 33.6% improvement from May 2017.

Trust Science, Inovatec to Launch Alternative-Credit Platform

Trust Science and Inovatec Systems have partnered to release what is billed as the world’s first end-to-end decisioning platform powered by alternative credit scores, including 64 million unbanked and underbanked U.S. car buyers.

Study: Off-Lease Supply Drives Pre-Owned Demand

TransUnion analysts report more consumers in the prime and superprime credit tiers are choosing to buy used as off-lease units continue to flood the market, offering a budget-friendly alternative to increasingly expensive new cars.