Lease Credit Approvals Reached 67.6% in June; Down Slightly from 69.9% in May 

CINCINNATI, OHIO (July 20, 2021) – Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 67.6% approval rate in June. The approval rate is a small decrease from the 69.9% approval rate in May.  
 
The June number, although lower than last month's rate, is higher than the same time last year, when the approval rate was at 67.1% right at the beginning of the pandemic. The steady, incremental increase indicates consumer credit levels are also holding steady as many households continue to receive stimulus relief provided by the government.   
 
As opposed to consumer borrowing, many are utilizing stimulus checks toward paying debt. With consumers reigning in their credit usage as well as lowering revolving debt, Americans have more confidence to go out and take over someone else’s vehicle lease.  
 
Swapalease.com believes many of its site visitors and vehicle customers have solid credentials available to take over a person’s vehicle lease. The stability to have more flexibility in leasing through economic uncertainly may contribute to an increase in shoppers looking to lease vehicles through the secondary market – where lease payments are much more appealing than what’s currently offered at a dealership.  
 
“Credit strength continues to stabilize due to the figures maintained throughout the first half of 2021 and we believe this will only continue into the second half,” said Scot Hall, Executive Vice President of Swapalease.com. “Because Americans are either saving or paying down debt with their government stimulus money, consumer credit confidence will ultimately continue to grow leading to larger spending in future quarters.” 
 
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.  

About Swapalease.com:   
Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.  

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Press Contact:    
Sarah Caro  
Merit Mile    
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While Most Luxury Car Lease Payments Decrease Monthly Rates, Select SUVs Greatly Increase Rates 

CINCINNATI, OHIO (April 19, 2021) – Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of April. Many lease payments are holding steady from March to April. Compact cars, full-size cars and large pickup lease payments all held stead while many luxury car brands decreased their payments. Certain small pickup brands and small SUV brands, on the other hand, increased lease payments.  

This month marks a significant decrease in lease payments for many luxury car brands in recent months. The largest decreases for the month included the Infiniti Q50 with a -10.04% decrease, the BMW 530i with a -6.65% decrease, and the Mercedes-Benz E350 4MATIC with a -4.31% decrease. The Infiniti Q50 is offered at $329 per month, the BMW 530i is offered at $479 per month, and the Mercedes-Benz E350 4MATIC is offered at $569 per month. 

The largest lease payment increases included the Toyota RAV4, with a 26.52% increase from March and the Ford Escape with a 19.62% increase. The RAV4 is listed at $289 per month, and the Ford Escape is listed at $373 per month. 

“This was a very interesting month for many luxury car brands as they decreased their lease payments significantly,” said Scot Hall, Executive Vice President of Wantalease.com. “It looks like we’re starting to see some payment increases for many vehicle segments that are in high demand and low supply at the dealerships. Despite this, the payments listed on our marketplace remain lower than what people are finding through traditional channels today.” 

Currently, both the Honda Civic and the Ford Focus are priced the lowest of all leases coming in at just $159 per month. The Nissan Sentra leasing rate continues to hold steady from last month and is listed at $169 per month. 

Other significant lease decreases include the Nissan Altima with an 11.96% decrease and the Subaru Legacy with a 5.57% decrease. The Nissan Altima is now offered at $205 per month and the Subaru Legacy is now offered at $199 per month. 

Wantalease.com is a sister marketplace to Swapalease.com, the nation’s largest online marketplace for leases.  

About Wantalease.com:   

Headquartered in Cincinnati, Ohio, Wantalease.com is the world’s first online automotive marketplace for new car leases. For more information visit www.WantAlease.com.  

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Swapalease.com, the nation’s largest car lease marketplace, announced today it has launched a Used Lease Swap program that makes it easier for drivers of used leases to exit their lease contract by finding someone else to take over the remaining portion of the lease. 

Demand for used and certified pre-owned vehicles are increasingly in more demand as the industry continues to struggle with supply of new cars and trucks due to the semiconductor chip shortage. Manufacturers are also looking to cater to consumer demand, which is constantly interested in a monthly payment-centric method of shopping for a vehicle. As such, several manufacturers over the last few months have begun testing pilot programs for leasing used and certified pre-owned cars and trucks. 

Lease payments are typically smaller compared when financing the vehicle because the driver is only paying for the portion of the vehicle they agree to use. This is important because used vehicle prices increased 3.74% in the first half of March compared with average prices during all of February, according to Cox Automotive’s Manheim Used Vehicle Value Index1.  

“Our Used Lease Swap program goes a step above some of today’s innovative leasing programs because it introduces even more flexibility into the needs of today’s driver,” said Scot Hall, Executive Vice President of Swapalease.com. “It’s great that the industry is looking at ways to bring about more certified pre-owned lease options, but even after you sign on the dotted line, regardless if it’s a new or used car, life changes happen and we want to give people more freedom and flexibility to change their driving needs at a moment’s notice.” 

Swapalease.com’s Used Lease Swap program works similar to its initial swap program for original lease contracts. A person lists their lease on the website and finds a match for a second individual who agrees to take over the unused portion of the lease contract.   

About Swapalease.com:  

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com. 

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1: https://www.usatoday.com/story/money/cars/2021/03/26/used-car-prices-chip-shortages-semiconductors/6970252002/ 

SWAPALEASE.COM RELEASES LATEST FIGURES ON LEASE CREDIT APPROVALS SHOWING SLIGHT INCREASE FOR FEBRUARY 

Lease Credit Approvals Reached 70.8% in February; Up Slightly from 68% in January 

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 70.8% approval rate in February. The approval rate is a slight increase from the 68.3% approval mark that opened up the new year in January. 

The February number is just off slightly from the same time last year, when the approval rate was at 72.3% right before the beginning of the pandemic. The steady numbers indicate consumer credit levels are also holding steady, perhaps as a continued sign of the ongoing stimulus relief provided by the government.  

According to recent Federal Reserve data, consumer borrowing decelerated again in January, which may suggest that Americans are using the latest stimulus checks to pay down debt. Total consumer credit decreased $1.3 billion In January, the Fed said. That’s an annual decline at a 0.4% rate and follows a 2.5% gain in the prior month. 

Swapalease.com believes many of its site visitors and vehicle shoppers have solid credentials available to take over a person’s vehicle lease. The inclination to have more flexibility through leasing amidst economic uncertainly may contribute to a rise in shoppers who are looking to lease vehicles through the secondary market, where lease payments are more attractive than what is currently offered at the dealership. 

“Given that the year has started out with credit-stability figures that were maintained throughout the third and fourth quarters, we believe in the short term this stability will continue,” said Scot Hall, Executive Vice President of Swapalease.com. “The latest and recently signed stimulus package, combined with the accelerated momentum we’re seeing with vaccine rollouts should further strengthen the outlook for credit in the months ahead.”   

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.

About Swapalease.com:  

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com. 

              Tesla and BMW Continue to Steal Marketshare from High-End Competitors

 Swapalease.com, the nation’s largest car lease marketplace, unveiled today its lease trends report from the fourth quarter of 2020, offering insight and perspective into the auto lease trends shaping today’s automotive retail and consumer preferences. Click here to download the report.

The report looks at vehicle lease payment, term, shopping consideration and driver preference trends within vehicle leasing in the fourth quarter of 2020. Among the most notable trends, consumer searches for Tesla vehicles on the Swapalease.com marketplace increased 55% over the last twelve months, among the largest increases by any brand in recent history for the marketplace.

“The consumer demand for Tesla is very real, and while Tesla doesn’t have a traditional retail network, the vehicle’s makeup positions it perfectly for a lease environment,” said Scot Hall, Executive Vice President for Swapalease.com. “As it’s in the luxury category, many drivers enjoy the ability to lease rather than finance a Tesla. Furthermore, drivers feel the battery technology is improving at a rapid rate and enjoy the ability to change or upgrade every few years.” 

The report also illustrates where BMW’s percent of total traffic reached 19% during the fourth quarter, up from 17% during the third quarter. Conversely, Mercedes-Benz declined from 8% down to 7% during the same time period.

Other foreign brands such as Honda, Acura, Nissan and Infiniti also continue to see falling search numbers in the marketplace. While these brands have traditionally experienced higher-than-average lease rates, they continue to experience lower-than-average search traffic and demand in the marketplace due to their unfavorable lease and lease transfer policies.

According to the report, Americans paid an average of $519.46 per month on their leases during the 4th quarter, down from $521.90 in the 3rd quarter. The report also shows that the average incentive has dropped from $583.65 in the 3rd quarter down to $545.66 in the 4th quarter.

For a look at the lease trends please download the report here.  

About Swapalease.com:

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.

While many SUV Brands Decrease Lease Payments, Others Increase Monthly Rates After the New Year to Meet the Segment Average

 Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of January. While many truck lease payments have remained steady, SUV lease pricing is experiencing a split in both increases and decreases – depending on the brand.

While Honda is increasing their lease payments on SUVs in the month of January, Toyota is decreasing lease payments on their SUVs. The three largest decreases were the Toyota 4Runner with a -17.78% decrease in payment, the Toyota RAV4 with a -12.62% decrease, and the Nissan Pathfinder with a -5.31% decrease. The 4Runner is offered at $299 per month, the RAV4 is offered at $209 per month, and the Nissan Pathfinder is offered at $329 per month.

The largest lease increases for SUVs in the month of January include the Honda Pilot, with a 12.06% increase from December, and the Honda CR-V with a 6.66% increase. The Honda Pilot is listed at $329 per month, and the Honda CR-V is listed at $239 per month.

“SUVs continue to be a category that garners a great deal of interest from new customers,” said Scot Hall, Executive Vice President of Wantalease.com. “It’s this demand that you continue to see some SUV brands increasing their lease offers, while others lower deals in hopes to sway potential customers away from the competition.”

Currently, the Ford Focus is priced the lowest of all leases coming in at just $159 per month. The Ford Focus is priced lower than the Nissan Sentra, which was the vehicle holding the lowest lease offer last month at $149. This month, the Nissan Sentra increased in monthly payments by 4.71%. 

Other lease increases include those in the luxury category, which has seen an explosive increase in monthly payments. The BMW X5 M50i had a 20.88% increase and the Lexus IS 300 had a 20.34% increase. The BMW X5 M50i is now offered at $1,049 per month, while the Lexus IS 300 is now offered at $349 per month.

Wantalease.com is a sister marketplace to Swapalease.com, the nation’s largest online marketplace for leases. 

About Wantalease.com:  

Headquartered in Cincinnati, Ohio, Wantalease.com is the world’s first online automotive marketplace for new car leases. For more information visit www.WantAlease.com.