Lease approvals on Swapalease.com’s secondary marketplace ticked up to 72% in April, the highest rate since August 2018.
Swapalease.com’s Q1 latest report finds only 11.2% of lease-exchange customers favored luxury sports sedans in the first quarter, down from 17.7% in Q1 2018.
Wantalease.com reports 75% of auto lease prices have remained largely flat so far in April, but several Ford models became more expensive after an incentive-laden March.
Approval rates on Swapalease’s online marketplace were up 4.8% in March, registering a 70.7% approval rate, the highest since October.
The approval settles the FTC's December 2017 complaint against Dallas-based Cowboy Toyota regarding its Spanish-language newspaper ads. The regulator charged the dealership with violations of the FTC Act, TILA and the Consumer Leasing Act.
Swapalease.com’s second-quarter report shows growing interest in sport utilities, crossover SUVs and sporty models.
If the firm's forecast is realized, May's new-vehicle sales total would best April by 7% but would be flat with a year ago. The vehicle information site also believes retail sales will account for 80.5% of volume.
Delinquencies are rising and auto finance sources are responding. But the editor wonders if there’s something else at play.
The special finance company, which counts the cofounder and former COO of Exeter Finance in its executive ranks, will use the funding to launch a new and pre-owned auto leasing program this year.
The firm today reported that average amounts financed for new and used reached record highs of $30,621 and $19,329, respectively. Total balances also reached a record high, although Experian observed a slowing in year-over-year growth.
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