Dealertrack (div. Cox Automotive)’s Credit Availability Index maintained a steady upward course in May, improving to 96.7, a modest month-over-month increase and a nearly three-year high. The index tracks auto loan approval rates for U.S. car buyers.

May’s score is a 1.2-point month-over-month increase driven by a growing willingness among finance sources to buy longer term contracts to higher risk borrowers, among other factors, analysts say.

“The increase in subprime share and longer loan terms indicates a slightly more aggressive lending posture,” the report states. “However, the rise in negative equity and contract rates suggests that lenders must continue to strike a balance between growth and prudent risk management.”

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