CINCINNATI — Swapalease.com reported a slight drop-off in
year-to-date credit approval trends for August compared with July.

The site determined the average customer credit approval
rate at the end of August was 74.5 percent, down slightly from 75.6 percent at
the end of July. Approximately three quarters of all people looking to take
over someone's lease are now being approved by the leasing company, according
to analysts.

With the exception of August data, customer credit approvals
have continually improved throughout 2013, and the current 74.5 percent
approval rate is higher than the 62.7 percent approval rate during the same time
last year.

"The August data
continue to show a strong lease approvals market, and this correlates to a
similarly strong market for new leases at the retail level," said Scot Hall, executive
vice president for Swapalease.com. "We believe the customer credit approvals
rate will remain at or near current levels through the remainder of 2013."

The previous 60 days' approval activity has been the
strongest two-month span so far in 2013, with a 75.5 percent approval rating
during that time. July and August were also the strongest two months of 2012
when a combined 75.0 percent of approvals were recorded.

The site added the total number of applicants year-to-date
has remained relatively unchanged compared with the same time period last year.

Credit is an important part of the vehicle lease process,
and each customer looking to take over a lease on Swapalease.com must have
equal or better credit standing compared with the existing lessee. Each leasing
company determines final approval of lease applicants.

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