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Auto loan approval rate rises to 73.8% in June

Credit availability hits decade high as index rises 7.3% YoY

Aidan Bush

A key metric of auto loan approvals climbed to a record high in June, despite three consecutive months of declining subprime borrowing. The Dealertrack Credit Availability Index rose 7.3% year over year and 0.9% month over month to 104.6 in June, according to a July 10 Cox Automotive report. June marks the index’s highest level […]

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