The Dealertrack (div. Cox Automotive) Credit Availability Index was essentially flat on a month-to-month basis in September, ticking back up to July’s 98.1 mark after falling by 0.2% in August.

The news follows largely positive September and Q3 sales reports boosted by EV and hybrid buyers.

“This resumes the broader run of loosening credit conditions that began in late summer 2024, but trends varied by lender type,” analysts write, noting bank approval rates improved by 1.6% while captive finance companies tightened approvals by 0.9% in the same month.

Other highlights include a 60-basis point increase in the share of loans to subprime buyers (up to 14.2% from 13.6%) and a 200-basis point increase in the share of loans with terms greater than 72 months (up to 26.8% from 25.5%).

Read the full report at Cox Automotive