Homes, appliances and other major purchases aren't the onlythings being denied college graduates staggering under crushinglevels of student loan debt.

Auto leases also have taken a dip, according to one majoronline leasing facilitator.

According to Swapalease.com, a Cincinnati, Ohio-based onlineleasing firm, lease credit approvals have slipped below “healthy”marketplace levels. Executives say student loan debt is drivingdown demands.

Over the past three months, the lease credit approval rating hasslipped to 67.9%, below what is considered the 70% healthymarketplace level. The credit approval rating has been on adownward trajectory since a 2013 high of 75.6% in July. Novemberapprovals registered 70%, compared with 61.1% approvals in November2012.

Since the beginning of summer, more college graduates havestarted shopping for a car on Swapalwase.com and the companybelieves a growing number of applicants feeling student loan debtpressures have played a larger role in the credit declinecategory.

“Swapalease.com has historically had a large demographicaudience between 35 and 55, but in the last few years ourmarketplace has appealed to other age groups that also includerecent graduates,” said Scot Hall, the firm's EVP. “Credit is thelifeblood of leasing, and each bank must evaluate the credithistory of each applicant interested in taking over a lease.”

Company officials believe the credit approvals rate willcontinue to shift in the coming months. However, similar to thebroader automotive industry, where auto lending has improvedconsiderably since the recession, Swapalease.com credit approvalsare markedly improved compared with the past two years, the companysaid.