A narrowing yield spread and a remarkable recovery in approval rates pushed Dealertrack’s Credit Availability Index to 103.7 in May, improving by 7.3% year over year to reach its highest level since April 2022. +

A growing approval rate helped the Dealertrack Credit Availability Index improve to 102.4 in March, its highest reading since June 2022 and a 6% year-over-year increase. +