Wachovia Dealer Services is the nation's top lender for car buyers with fair or poor credit profiles, Experian Automotive reports.
Capital One Auto Finance ranks second, closely followed by Toyota Financial Services in third place. Chase Auto Finance ranks fourth, and GMAC Financial Services and Ford Motor Credit Co. are tied for fifth place.
The Experian study of the nonprime and subprime auto finance segments -- which encompass credit scores of 550 to 679 -- marks the first time the research company has ranked auto lenders on the financing they extend to customers with substandard credit. Experian collected the data in the third quarter of 2009.
Some results are surprising: For example, Toyota Financial Services ranks high despite its historic focus on customers with good and excellent credit.
Wachovia's top rank is less of a surprise because the Experian data show it also ranks first in used-vehicle financing, which draws a larger share of customers with risky credit.