CINCINNATI — Swapalease.com recently learned the latest
year-to-date credit approval average came in slightly lower in September than
in August.

Site officials said September's reading settled at 72.7
percent, down slightly from a 74.5-percent approvals rate year-to-date in
August.

The average year-to-date approvals rate considered to be
healthy is 70 percent, according to the company.

Swapalease highlighted a new auto lease trend appears to
have formed over the last three months, one that shows the approval rate
slipping during the previous three months compared with the same time last year
when the rate showed a slight increasing trend.

Site executives believe this trend is most likely the case
because the company is processing 45.5 percent more applications this year
compared with the same time last year.

"There are more drivers looking to change their vehicle
today compared with this time last year, which is also reflected in the
increased number of people shopping for a different car in the showrooms," said
Scot Hall, executive vice president of Swapalease.

"We expect to see the overall approvals average shift a
little during this process as a large segment of these shoppers are still
focused on improving their credit from the downturn," Hall continued.

Hall emphasized credit is the lifeblood of vehicle leasing,
and each incoming driver looking to take over a lease on the Swapalease
marketplace must be approved by the vehicle lease company.

In reviewing approvals activity only, Swapalease has seen 39
percent more approvals when comparing the previous three months of 2013 with
the same time in 2012, and 16.8 percent more approvals year-to-date in 2013
compared with the previous year.

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