Lease Swap Approval Rates Rise to 69.1% in July
Lease approval ratings improved in July following a slight dip in June, according to the latest report from Swapalease.com.
Lease approval ratings improved in July following a slight dip in June, according to the latest report from Swapalease.com.
Wantalease.com reports moves made by an ‘aggressive’ Nissan highlighted the month in auto leasing, maintaining an industry-low price for the Sentra and offering big discounts on the Titan and Pathfinder.
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.
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.
Kelley Blue Book analysts have released their annual list of the top 10 sales and lease deals for new vehicles available during the holiday week.
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.
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.
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Mounting losses have compelled many underwriters to jump ship on guaranteed asset protection, but it remains a cornerstone product that continues to perform for customers, dealers, and F&I managers.
Wantalease.com analysts report relatively flat lease pricing across most major brands, but increases on several popular models should give dealers enhanced latitude for holiday weekend lease discounts.
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