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Data Point

Auto Credit Availability Slightly Expands in August

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Article Highlights

  1. Access to auto credit expanded slightly in August according to the Dealertrack Credit Availability Index for all types of auto loans.
  2. The All Loans Index increased 0.4% to 98.5 in August, reflecting that auto credit was slightly easier to get in the month compared to July.
  3. All loan types saw a modest easing in August. CPO Loans loosened the most, while New Loans loosened the least.

Access to auto credit expanded slightly in August according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 0.4% to 98.5 in August, reflecting that auto credit was slightly easier to get in the month compared to July. Access was looser by 6.0% year over year, but compared to February 2020, access was tighter by 0.7%.

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All loan types saw a modest easing in August. CPO Loans loosened the most, while New Loans loosened the least. On a year-over-year basis, all loan types were easier to get with non-captive new loans having loosened the most. 

Credit standards movement was varied across lender types in August. Credit access was loosened at banks and captives, tightened at credit unions, and little changed at auto-focused finance companies. On a year-over-year basis, all lenders had looser standards. Captives have loosened credit access the most year over year. Compared to February 2020, captives and auto-focused finance companies were looser in August, with finance companies having loosened the most while credit unions had tightened the most.


The Dealertrack Credit Availability Index is a new monthly index based on Dealertrack credit application data and will indicate whether access to auto loan credit is improving or worsening. The index will be published around the 10th of each month.

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