Credit Access Stays Strong on Longer Terms, Lower Down Payments
Dealertrack (div. Cox Automotive)’s Credit Availability Index ticked up again in June, reaching 97.3 after rising to 96.5 in May. Driven by an approval rate that improved by 70 basis points month-over-month, the CAI has remained remarkably strong amidst economic and political headwinds.
“This extends the broader run of loosening credit conditions that began in late summer 2024,” analysts write. “The only notable interruption in this trend was in April, likely driven by market uncertainty following tariff announcements, which temporarily tightened access.”
The report highlights some cause for concern, many of which were reflected in Edmunds’s recently released Q2 auto finance report, including growing terms (up by 80 BPs in June) and shrinking down payments (down by 40).
