CINCINNATI — Swapalease.com highlighted this week that
customer credit approvals based on U.S. bank data jumped 27.3 percent in 2012
compared with approval rates from the previous year.

Most notably, the site pointed out that the last two months
of last year saw significant credit approval rates jump with 55 percent more
approvals in December compared with November.

Officials also said credit declines from month-to-month
shrank by 29 percent during the same time period.

Furthermore, Swapalease.com recorded 240 percent more credit
approvals in December of 2012 compared with December of 2011.

The site said consumer credit is the backbone of vehicle
lease approvals, and the latest company data shows a continued positive trend
since it last reported credit data in September.

"We continually monitor credit approval trends on the
Swapalease.com marketplace to determine if the overall health of the economy is
impacting car leasing," said Scot Hall, executive vice president of Swapalease.

"Looking ahead, it will be interesting to see if these
approval rates dip back down once the increased payroll taxes take effect from
the fiscal cliff negotiations," Hall continued.

Additional U.S. bank data for Swapalease showed customer
credit declines shrank 32 percent in the second half of 2012 compared with
decline rates in the earlier part of the year.

The site explained shoppers interested in assuming the
remaining contract of a lease must have equal or better credit than the current
lessee, according to U.S. bank stipulations.

Once approved, shoppers can enjoy shorter-than-normal lease
terms and assume a vehicle lease without a down payment requirement.


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