Lease Approval Ratings Drop Slightly to 68.8% in October Following Increase in September

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 68.8% approval rate in October, a modest dip from the September rate of 72.9%.…

Auto Loan Originations Observations

Originations through June 2019 reported as of August 2019

• 12.3 million auto loans, totaling $286.2 billion, have been originated year-to-date. This is a 0.6% decrease in accounts and a 2.6% increase in balances over this time last year.
• Auto loans represent 86.6% of all auto account originations and 90.0% of all auto origination balances YTD.
• 2.68 million auto loans have been…

Majority of Consumers Report Complaints Related to Time and Efficiency in the Automotive Lending Process

Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, today announced the results of its latest survey, revealing consumer pain-points associated with lenders when financing a vehicle.

When asked about the biggest complaint associated with financing their last vehicle, 56.8% of consumers said that…

Lease Approval Ratings Increase by 4% in the Month of September, Reaching the Highest Approval Rating Since March of 2016

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.9% approval rate in September, a 4% increase from the August rate of 68.9%. September had the highest number of credit approvals in nearly three years. The last time credit approvals registered higher than 72.9% was in March of 2016,…

Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, and Inverite Verification, the leading open-banking provider with coverage for over 275 Canadian Financial Institutions, today announced their strategic partnership to increase operational efficiencies for lenders.  

Inovatec will integrate with Inverite to increase the speed of lending decisions through income verification, transaction history and risk scores to help…

Swapalease.com Compiled 5 Most Reasonably Priced Automobile Leases Around the Country

Swapalease.com, the nation’s largest car lease marketplace, today announced the five best lease deals for the Halloween holiday. Vehicles were selected by Swapalease.com advisors based on new lease price data for the month of October. Swapalease.com customer advisors help guide shoppers into the right lease vehicle that fits their automotive needs.



The…

Inovatec Systems Corp. has chosen CARFAX Canada VIN Scan to help power their industry-leading, cloud-based lending software solutions. The partnership enables Inovatec users to adjudicate lease and finance applications with greater efficiency and accuracy.

CARFAX Canada has billions of data records from thousands of unique sources, including data that can't be found anywhere else. VIN Scan leverages this information to provide high-level insight into key vehicle attributes. The system…

Amid Ongoing General Motors Strike, the Cadillac Escalade Payment Increases by Nearly 40%

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of September.  While the majority of automotive brand prices remained steady into September, some GM models saw price increases. 

The Cadillac Escalade increased in price by $326.94 this month, bringing its monthly payment to $799 per…

Lease Approval Ratings Drop Slightly in August Following Increase in July

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 68.9% approval rate in August, a slight dip from the July rate of 69.1%.

August experienced a higher number of applicants with qualifications for taking over another person’s lease, as well as the highest number of applicants year-to-date. The month had a slightly lower approval…

Here is the most recent auto loan and lease origination data and trends from Equifax. 

Key Highlights: The percent of subprime to the total originations is at the lowest point since 2011 (currently at 20.7%).

Auto Loan Originations Observations reported through April 2019

• 7.96 million auto loans, totaling $183.9 billion were originated year-to-date. This is a 0.3% decrease in accounts and a 2.3% increase in…

Online Training Program Helps F&I Personnel Better Understand Product Offerings

To Elevate Profit and Customer Satisfaction Levels…

While 67% Of Auto Lease Prices Remained Steady in August, Trucks and SUVs Experienced Significant Price Drops

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of August.  Over 33% of today’s popular automotive manufacturers of trucks and SUVs offered generous discounts on new lease deals.

While most car prices have remained steady in August, manufacturers offered…

Crossovers Not Seeing Growth in Leasing?

A year ago, roughly 7.4% of drivers polled said they would shop for a crossover if they needed to go out and lease a vehicle that day. A year later, that number dipped slightly to 7.1%. With all the explosive growth in Crossover production, is it not a vehicle that appeals to the lease crowd?

Does Payment Threshold Really Matter?

A year ago, the average lease payment was…

Lease Approval Ratings Improve in July Following Slight Dip in June

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 69.1% approval rate in July, a rise from the June rate of 65%. July experienced a strong number of applicants with qualifications for taking over another person’s lease, and a slight approval rating increase following a dip in approvals for June.

July saw a slight decrease in approval…

acksonville-area first responders, fire fighters and law enforcement officials are more prepared for the future of public transportation after completing emergency training with autonomous vehicles.

The JTA, along with Florida-based autonomous mobility solutions company Beep, First Transit and autonomous vehicle manufacturer NAVYA, hosted a day-long training session at the North Florida TPO campus, focusing on the latest AV technology and how first responders should address emergency…

Here are the latest auto credit trends as reported by Equifax through March 2019:

• Equifax is reporting data that show the increase in loan balances on both financed and leased vehicles may beginning to slow.
• Balances on loans in the period ending January 2019 showed an increase of 2.8% from the year earlier, this number shrunk to just 1.3% in the period ending March 2019.
• Balances on leases in the period ending January 2019 showed an increase of 3.0%…

Autonomous Mobility Solutions Company Partners with Leading Fleet Orchestration Platform to Deliver Intelligent, Consistent, Autonomous Mobility Services

Beep, a Florida-based autonomous mobility solutions company, today announced a partnership with Bestmile, the leading fleet orchestration platform. Through this partnership, Beep will leverage the market…

Regardless of whether you are on the side that believes Millennials like or dislike personal automotive commitment, no doubt their unique perspective on automobiles and vehicle shopping may forever change the way certain vehicles were once perceived. According to the customer advisor specialists at Swapalease.com, who consult with…

Majority of Customers Report Complaints in Lengthy Vehicle Financing Processes from Lenders

Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, today announced the results of its latest survey, showing 79.3% of C-Suite finance executives polled overwhelmingly reported their organization was most in need of Artificial Intelligence (AI) Integration in their automotive lending processes.

Although it’s no…

F&I Product Offerings Designed to Help Dealers Educate Customers

Protective Asset Protection, a provider of F&I programs, services and dealer owned warranty company programs, continues to ensure its F&I product offerings meet the needs of dealers selling plugin, electric vehicles…