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Data Point

Auto Credit Availability Stable in July

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Article Highlights

  1. Access to auto credit was little changed in July after two months of modest moves according to the Dealertrack Auto Credit Availability Index for all types of auto loans.
  2. The All Loans Index increased 0.1% to 98.1 in July, reflecting that auto credit was slightly easier to get in the month compared to June.
  3. On a year-over-year basis, all loan types were easier to get with non-captive new loans having loosened the most.

Access to auto credit was little changed in July after two months of modest moves according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index increased 0.1% to 98.1 in July, reflecting that auto credit was slightly easier to get in the month compared to June. Access was looser by 5.1% year over year, but compared to February 2020, access was tighter by 1.1%.

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Most loan types were little changed in July. Used Loans loosened the most, while New Loans tightened slightly. 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 July. Credit accessed was little changed at captives, but loosened more at banks, auto-focused finance companies, and credit unions. On a year-over-year basis, all lenders had looser standards. Auto-focused finance companies have loosened credit access the most year-over-year. Compared to February 2020, only auto-focused finance companies were looser in July, and banks and 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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