CINCINNATI –

Swapalease.com reported that vehicle lease credit approvals bounced back a bit in April versus the pace of approvals seen in March, registering a 3.2-percent gain.

Site officials indicated the April approval rate came in at 69.9 percent, up from the March reading of 66.7 percent.

Swapalease.com explained the return to monthly volatility in vehicle lease credit approvals — with the rate up one month and down the next — is mirroring consumer confidence trends in the economy. Consumer confidence was down in the month of April at 94.2, a dip from March when the number was at 96.1.

According to the United States Consumer Sentiment Forecast, consumer confidence is expected to continue to rise and fall from month to month. While this could impact other areas of the economy, it is expected to have minimal impact to the auto industry, as sales are again forecast to be strong throughout 2016.

“While we’re seeing plenty of growth still in the marketplace, particularly with trucks and luxury cars, the rate of vehicle lease credit approvals is an important indicator for lease environments,” Swapalease.com executive vice president Scot Hall said.

“We anticipate the lease credit approvals to remain volatile for the next few months while the environment for leasing remains robust,” Hall continued.