That’s welcome news for finance managers who have faced tougher loan approvals since the credit crunch began in late 2008.
The average credit score on new-vehicle loans fell a couple of points to 772. That’s down ever so slightly from 774 in the corresponding period last year and 776 in the first quarter of this year.
A 772 score is still way up in the prime category. But it was the first quarterly decline since 2007, and that’s a sign auto lenders may have eased up slightly, according to Melinda Zabritski, director of automotive credit for Experian Automotive.