Building Consumer Trust Via Used-Vehicle History With the used-car market rebounding more quickly than for new cars, it is crucial for dealers to ensure the vehicles they add to their inventory are worth the investment and will be safe and reliable.
As we begin a new year, dealers are evaluating their business needs for the next 12 months. Likely at the forefront of their priorities is navigating shortages of both new and used vehicles, and restocking dealership lots.
But while the long-term impact of stalled production remains to be seen, we are beginning to see used vehicle inventory rebound, particularly with auction houses reopening.
Swapalease ‘optimistic’ about 2021 after strong December reading Tuesday, Jan. 12, 2021, 03:51 PM By Auto Remarketing Staff CINCINNATI -
The approval rate at Swapalease.com closed 2020 on a high note, prompting an “optimistic” outlook for this year.
Site officials reported on Tuesday that the approval rate for applicants looking to take over a vehicle lease came in at the highest rate of the year in December, registering in at 72.7%.
That reading to round out 2020 marked quite a turnaround for approvals compared to when the pandemic started. Swapalese recollected that the April approval reading sunk to 63.8%, marking the lowest rate reported since January 2018.
The reading to finish 2020 also was similar to how 2019 and 2018 concluded, too. Swapalease noted the December 2019 approval rate was 72% while the December 2018 stood at 71.4%.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Lease Credit Approval Rates Rise to 72.7% in December
Swapalease.comJanuary 12, 2021 GMT
CINCINNATI, Jan. 12, 2021 (GLOBE NEWSWIRE) Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.7% approval rate in December. The approval rate is significant considering approval ratings hit a low of 63.8% in April, the lowest rate reported since January of 2018.
With the holiday season being an optimal time to buy or lease a vehicle, it is no surprise that approval ratings saw an increase in December. According to Experian’s State of the Automotive Finance Market Report, in the second quarter of 2020, nearly 26% of new vehicles were leased. While this number is down from pre-pandemic levels, Swapalease.com believes many of its site visitors have solid credentials available to take over a person’s vehicle lease. The inclination to