CINCINNATI—Lease credit approvals dipped again in March following an increase in February, according to Swapalease.com.
Auto lease credit approvals for March finished at 66.7%, down from the February mark of 70%.
Swapalease.com speculates that lease credit approvals may be falling back into the trend of late 2015, with lower approval percentages, despite monthly lease approvals being up 0.6% from a year ago.
"We think consumer credit remains generally healthy in the broader picture, and we're more than likely experiencing the normal ups and downs of a healthy market," said Scot Hall, EVP of Swapalease.com. "As always, we'll continue to keep a watchful eye on this latest dip, particularly against recent data that shows interest in motor vehicles may be peaking."
Although consumer confidence is currently exceeding the forecasted percentage for the month, the percentage of consumers who said that they would be buying a vehicle also slipped 1.6% from last month as reported by Bloomberg. That, mixed with a recent increase in gas prices, could mean a peak for auto sales in 2016, Swapalease.com said.