MIAMI, Fla. — For the first time since the recession began, LeaseTrader.com reported that it saw the rate of credit application approvals increase for first-time customers during the final quarter of the year.

Credit application approvals grew by 4.5 percent since the start of October and have continued into positive territory for 2011, according to the company.

LeaseTrader.com requires all car shoppers to verify creditworthiness before a contact is made via its site for an individual to assume a remaining lease contract.

"Having good credit is arguably the single most important factor in anyone's ability to lease a vehicle," explained Sergio Stiberman, chief executive officer and founder of LeaseTrader.com. "We view this positive indication as key to the health of the overall leasing environment. It's one thing to offer great lease deals, but you've got to have customers with good credit to sign on the dotted line."

Management clarified that credit is generally analyzed differently when a individual applies to take over a lease than when a consumer applies for a new-car lease at a dealership. Basically, in taking over a lease, the amount of credit a person has, combined with credit history, is reviewed to decide whether the individual can assume the lease.

"Unlike a dealership, a person's credit score is not analyzed to determine which category of pricing they qualify for when shopping for the best payment. The same person could have the credit to lease a vehicle in both scenarios, but fail to qualify for the similar payment at the dealer level," management stressed.