Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of January were at 70.5%, down from the 73.3% level in December of 2013. The credit approval levels have witnessed some recent turbulence, going as high as 73.3% and dropping as low as 62.9% in September of 2013.

The credit approvals rate over the last six months stands at 71.6%, with the approval rate over the last twelve months little changed at 71.8%. Swapalease.com considers 70% to be healthy for the lease transfer marketplace, meaning seven out of ten car shoppers are approved to take over a lease through transfer.

Consumer credit continues to expand among American shoppers. Reuters recently reported that total consumer credit increased to $3.1 trillion in December, a jump of $18.8 billion according to the Federal Reserve. Economist polled by Reuters expected consumer credit to increase by $12 billion. Non-revolving credit, which includes auto loans, increased $13.8 billion during December.

“Our lease credit approval trends affirm what the Federal Reserve is reporting on broader credit trends,” said Scot Hall, Executive Vice President of Swapalease.com. “As more consumers expand their use of credit, combined with a larger number of customers applying for transfer, we’re seeing a larger number of both approvals and non-approvals reported by our finance partners.”

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.