SCHAUMBURG, Ill. –

Along with highlighting how total outstanding balances are approaching $1.3 trillion, Experian’s Q1 2021 State of the Automotive Finance Market report also delved into some metrics based on geography.

Experian pinpointed the average credit score of used-vehicle paper bought in Q1 by state. The top 10 lowest averages where perhaps the most subprime financing took place included:

1. Mississippi: 635
2. Alabama: 640
3. Georgia: 643
4. North Carolina: 645
5. Texas: 645
6. Maryland: 647
7. South Carolina: 647
8. Oklahoma: 651
9. Tennessee: 652
10. Florida: 658

On the new-vehicle side, Experian noticed the average crept out of the non-prime space but involved many of the same states, including:

1. Maryland: 708
2. Mississippi: 710
3. New Mexico: 710
4. Texas: 710
5. Georgia: 711
6. West Virginia: 712
7. Alabama: 713
8. Louisiana: 714
9. Oklahoma: 715
10. North Carolina: 716

Experian also share a breakdown of regional percentages by provider, including banks, credit unions, captives, as well as what analysts classify as finance companies that often serve the subprime market along with a final category simply dubbed, other.

Here are those figures for used financing:

West
Bank: 26.58%
Captive: 11.12%
Credit union: 31.78%
Finance company: 15.55%
Other: 14.95%

Midwest
Bank: 36.42%
Captive: 6.65%
Credit union: 28.23%
Finance company: 14.95%
Other: 13.75%

South
Bank: 31.69%
Captive: 7.91%
Credit union: 19.01%
Finance company: 18.87%
Other: 22.52%

Northeast
Bank: 41.98%
Captive: 14.90%
Credit union: 20.54%
Finance company: 14.30%
Other: 8.28%

And as you might expect since they’re directly connected with the automaker, Experian highlighted that captives led the way in each region for new-vehicle financing in Q1. Here are those details

West
Bank: 24.27%
Captive: 54.13%
Credit union: 13.61%
Finance company: 1.59%
Other: 6.41%

Midwest
Bank: 28.60%
Captive: 55.66%
Credit union: 9.36%
Finance company: 5.58%
Other: 0.80%

South
Bank: 29.48%
Captive: 49.20%
Credit union: 11.43%
Finance company: 8.85%
Other: 1.05%

Northeast
Bank: 22.36%
Captive: 67.69%
Credit union: 5.63%
Finance company: 2.02%
Other: 2.30%