Latest Updates

• Dealertrack Credit Availability Index: August 2025 2025-09-11 10:00

  

  The Dealertrack Credit Availability Index edged down to 97.8 in August 2025 from 98.0 in July, marking a slight tightening in auto credit conditions even as access remains more than 5 points looser than a year ago.

  • Approval rates rose +100 bps to 105.4, the highest of 2025, indicating lenders are still approving more loans overall despite modest tightening elsewhere.

  • The subprime share held steady at 13.6%, suggesting no further expansion into higher-risk lending.

  • The yield spread narrowed -2 bps as the average contract rate fell -18 bps to 10.69% and the 5-year Treasury yield declined -16 bps to 3.79%, showing lenders offering competitive rates.

  • The share of loans >72 months dropped -80 bps to 25.4%, signaling a move toward shorter-term financing.

  • Negative equity share declined -60 bps to 53.5%, indicating improved borrower positions, while average down payments edged up +1 bp to 13.7%.

  • Credit access by channel was mixed: franchised used improved, while certified pre-owned saw the largest decline; by lender type, captives tightened most, while credit unions loosened.

  • Compared to August 2024, credit access was looser across all channels and lender types, with banks and finance companies showing the biggest improvements.

   

  Source
• Dealertrack Credit Availability Index: July 2025 2025-08-08 10:00
  

  The Dealertrack Credit Availability Index rose to 98.1 in July 2025 from 97.1 in June, a +1.0 pt MoM increase, marking the third straight month of improved auto credit access.

  • Approval rates climbed to 74.4% (+210 bps MoM), while the subprime share fell -50 bps to 13.6%.
  • The yield spread narrowed -35 bps as the average contract rate dropped from 11.23% to 10.87% and the 5-year Treasury yield edged down to 3.95%.
  • The share of loans >72 months fell -60 bps, negative equity share declined -70 bps, and average down payments dropped -20 bps to the lowest since Nov 2022.
  • Credit access improved across all channels except certified pre-owned; independent used saw the largest gain, while finance companies led loosening among lender types.
  • Compared to July 2024, access was looser across most channels and lender types, led by non-captive new, franchised used, banks, and finance companies.

  Source
• Dealertrack Credit Availability Index: June 2025 2025-07-10 10:00
  

  The Dealertrack Credit Availability Index rose to 97.3 in June 2025 from 96.5 in May, a +0.8-point MoM increase, signaling a second straight month of improved auto credit access and continued loosening since late summer 2024.

  • Approval rates rose 70 bps, while the subprime share increased 10 bps, indicating broader lender flexibility.
  • The yield spread edged up 1 bp to 7.27, as average contract rates dipped to 11.23% and the 5-year Treasury yield fell to 3.96%.
  • The share of loans with terms >72 months increased 80 bps, while average down payments declined 40 bps.
  • Credit access improved across all channels except certified pre-owned; finance companies and captives loosened most, while banks and credit unions tightened slightly.
  • Compared to June 2024, credit access was looser across most lender types and channels, especially in non-captive new and franchise used segments.

  Source
• Dealertrack Credit Availability Index: May 2025 2025-06-10 10:00
  

  The Dealertrack Credit Availability Index rose to 96.7 in May from 95.5 in April, a 1.2-point increase MoM, reflecting a modest loosening in auto credit access. The index was also up YoY.

  • Approval rates increased by 28 bps, suggesting lenders were more willing to approve applications.
  • The subprime share rose by 33 bps, pointing to a slight easing of standards for higher-risk borrowers.
  • The average contract rate increased to 11.28% from 11.12%, and the yield spread widened by 5 bps to 7.26%.
  • The share of loans with terms >72 months rose by 53 bps, indicating growing consumer preference for extended terms.
  • Negative equity share climbed 34 bps, while the average down payment rose 6 bps to 9.58%.

  Source
• Dealertrack Credit Availability Index: April 2025 2025-05-12 10:00
  

  In April 2025, the Dealertrack Credit Availability Index revealed notable changes in auto credit access across various metrics.

  • The All-Loans Index was 95.7 in April, compared to 96.3 in March, indicating a month-over-month decrease of -0.7% and a year-over-year increase of 0.7%.
  • The approval rate for auto loans increased by 20 basis points (BPs) in April. This increase indicates that more consumers were able to secure auto loans, reflecting a more favorable lending environment.
  • The subprime share of loans, representing loans given to borrowers with lower credit scores, decreased by -280 bps in April.
  • The share of loans with terms greater than 72 months increased by 130 bps in April.
  • The average down payment percentage required for loans remained stable at 14.7% compared to March.

  Source
• Dealertrack Credit Availability Index: March 2025 2025-04-10 10:00
  

  In March 2025, the Dealertrack Credit Availability Index revealed notable changes in auto credit access across various metrics.

  • The All-Loans Index reached 96.4, up from February and a 3.1% rise year over year, marking the highest level of auto credit access since December 2022.

  Source
• Dealertrack Credit Availability Index: April 2025 2025-03-10 10:00