SCHAUMBURG, Ill. -

Fueled by its stranglehold on the top spot among used-vehicle lenders, Wells Fargo rose to be No. 1 in market share among all auto finance companies for the first time this year, according to Experian Automotive's Q3 State of the Automotive Finance Market Analysis.

Wells Fargo surged past Ally Financial, grabbing 5.90 percent of the market. Ally remained close behind at 5.54 percent, with Toyota coming in third overall with 5.12 percent.

Ally's fall from the overall top spot coincides with dipping below the 6-percent level. Experian's data showed the company's market share stood at 6.39 percent and 6.68 percent after the first and second quarter of this year, respectively.

Helping Wells Fargo secure the overall market lead is the lender's surge in used-vehicle loans. As of the third quarter, Experian determined Wells Fargo held 7.29 percent of the used lending market, an amount nearly double what analysts determined for Ally, which was 3.87 percent.

As Wells Fargo and Ally duke it out for the overall auto lending market lead, Experian noticed credit unions and secondary finance companies such as Santander Consumer USA, Credit Acceptance and Consumer Portfolio Services showed strong market share growth.

Triggered by a 4.5-percent overall gain, analysts indicated credit unions now have 18.22 percent of the overall automotive loan market, while finance companies grew to 13.29 percent.

Banks still have the highest market share at 40.98 percent as of the third quarter, but Experian pointed out they had a market share decline of 2.9 percent year-over-year.

Analysts also mentioned the market share for buy-here, pay-here dealers took a bit of tumble during the third quarter. The BHPH third-quarter market share came in at 8.66 percent, a level 2.8 percent lower than a year ago.

Constituting 51.27 percent of all vehicle financing, the following list is the top 20 lenders for overall market share as of the third quarter as well as their year-over-year movement:

—Wells Fargo: 5.90 percent, up 4.2 percent

—Ally Financial: 5.54 percent, down 20.5 percent

—Toyota: 5.12 percent, up 6.9 percent

—Chase: 4.94 percent, down 3.5 percent

—Capital One: 3.80 percent, up 12.9 percent

—Ford: 3.55 percent, down 6.9 percent

—Honda: 3.45 percent, down 2.5 percent

—Nissan/Infiniti: 2.39 percent, up 22.6 percent

—Santander: 2.06 percent, up 2.06 percent

—Bank of America: 1.96 percent, flat

—TD Auto Finance: 1.90 percent, up 62.2 percent

—Fifth Third Bank: 1.48 percent, down 10.6 percent

—GM Financial/AmeriCredit: 1.36 percent, down 2.8 percent

—Hyundai: 1.34 percent, up 13.7 percent

—VW Credit: 1.23 percent, up 37.4 percent

—US Bank: 1.15 percent, down 11.4 percent

—Huntington: 1.05 percent, down 1.08 percent

—SunTrust: 1.05 percent, down 12.0 percent

—BMW Bank: 1.04 percent, up 12.9 percent

—PNC Bank: 0.96 percent, up 12.5 percent

Composing 39.46 percent of all used financing, here are the top 20 used lenders and their year-over-year change:

—Wells Fargo: 7.29 percent, up 2.6 percent

—Ally Financial: 3.87 percent, down 3.0 percent

—Capital One: 3.84 percent, up 8.1 percent

—Chase 3.59 percent, down 8.1 percent

—Santander: 2.68 percent, up 45.6 percent

—Toyota: 2.26 percent, down 21.8 percent

—TD Auto Finance: 1.64 percent, up 65.7 percent

—Bank of America: 1.59 percent, down 34.9 percent

—Credit Acceptance: 1.43 percent, up 0.8 percent

—CarMax: 1.43 percent, down 2.5 percent

—Fifth Third Bank: 1.37 percent, down 13.1 percent

—Huntington: 1.12 percent, up 20.0 percent

—GM Financial/AmeriCredit: 1.00 percent, down 26.9 percent

—Ford: 1.00 percent, down 3.6 percent

—BMW Bank: 1.00 percent, up 25.4 percent

—Westlake: 0.97 percent, up 17.1 percent

—USAA: 0.93 percent, down 12.5 percent

—SunTrust: 0.83 percent, down 2.1 percent

—Honda: 0.82 percent, down 25.8 percent

—Navy FCU: 0.79 percent, up 14.4 percent

Representing 74.92 percent of all new financing, here are the top 20 new lenders and their year-over-year change:

—Toyota: 9.52 percent, up 19.9 percent

—Ally: 8.12 percent, down 31.6 percent

—Honda: 7.47 percent, down 1.2 percent

—Ford: 7.46 percent, down 11.4 percent

—Chase: 7.05 percent, down 1.3 percent

—Nissan/Infiniti: 5.46 percent, up 24.6 percent

—Wells Fargo: 3.85 percent, up 17.6 percent

—Capital One: 3.78 percent, up 23.5 percent

—Hyundai: 3.10 percent, up 6.3 percent

—Bank of America: 2.54 percent, down 43.0 percent

—TD Auto Finance: 2.33 percent, up 57.3 percent

—VW Credit: 2.22 percent, up 47.8 percent

—US Bank: 1.94 percent, down 8.9 percent

—World Omni: 1.86 percent, up 24.9 percent

—Fifth Third Bank: 1.66 percent, down 7.0 percent

—RBS Citizens: 1.41 percent, down 14.2 percent

—PNC Bank: 1.41 percent, down 0.3 percent

—SunTrust: 1.38 percent, down 21.0 percent

—Kia: 1.21 percent, down 11.3 percent

—Santander: 1.14 percent, up 70.7 percent