Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals for 2014 ended with a rate of 69.0%, down from the 2013 approval rate of 77.7% approvals. December 2014 specifically ended with a monthly approvals rate of 60.9%, down from the previous December that saw 73.3% approvals in 2013.

“The year ended much the same way it progressed, with turbulence as the approvals theme for the entire 2014 campaign,” said Scot Hall, Executive Vice President of Swapalease.com. “We feel that as long as there is a concern with student loans, there will continue to be volatility in credit approval rates in our marketplace.”

Student loans continue to be a factor in lease approvals since leasing is popular with car shoppers under thirty-five years old. And while lease penetration rates have risen to near all-time highs entering 2015, with nearly 30% of all new-vehicle sales now representing leases, credit remains the lifeblood of the lease transaction.

When consumers aren’t approved at the dealership because of stressed credit levels, they turn to the Swapalease.com marketplace as a car-shopping alternative. While Swapalease.com saw a larger volume of car shoppers overall in 2014, roughly 10% more compared with 2013 levels, the marketplace also saw a larger number of distressed shoppers that came with student loan burdens that altered the credit approval rate.

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal.