ORLANDO, Fla. — Due in large part to the troubled capital markets, Experian Automotive reported that captives lost a relatively large share of outstanding loan balances in the third quarter of last year, compared with the third quarter of 2008.

In fact, captives were down 5.4 percent or about $12 billion. Meanwhile, outstanding balances in the finance and other category fell a dramatic 22.7 percent or $23 billion.

On the other hand, both banks and credit unions picked up market share. Banks picked up about $1 billion in outstanding balances (up 0.4 percent), while credit unions grabbed $5 billion, up 3.4 percent.

Continuing on, the company indicated that on a year-over-year basis, 30-day delinquencies at banks grew by 21.7 percent. They grew by 8.7 percent at captives and 4.5 percent at credit unions. For the finance and other category, delinquencies were down by 0.1 percent, but the fact that this segment had less outstanding loans could have played a role.

Overall, delinquencies across the board were up 5.8 percent, to 3.32 percent.

As for 60-day delinquencies, Experian found that banks were up 14.5 percent, captives were up 29.2 percent, credit unions climbed 16.7 percent and finance/other shifted upward to 15.5 percent.

In total, 60-day delinquencies were up 13.4 percent to 0.95 percent year-over-year in the third quarter of 2009.

Reviewing how approvals have shifted across the credit spectrum, Experian said that the super prime category grew by 14.4 percent, the prime segment declined by 3.3 percent. Furthermore, non-prime loans dropped by 12.8 percent, subprime were down by 21 percent and deep subprime declined 12.6 percent year-over-year.

The company defines the spectrum as:

Super prime

Scorex Plus: 740 plus

VantageScore: 801-990

 

Prime

Scorex Plus: 680-739

Vantage Score: 701-800 

 

Non-prime

Scorex Plus: 620-679

VantageScore: 641-700

 

Subprime

Scorex Plus: 550-619

VantageScore: 601-640

 

Deep subprime

Scorex Plus: less than 550

VantageScore: 501-600

The company also discovered that, on average, scores for new- and used-vehicle loans have crept upward. For instance, in the third quarter of 2009, the average new vehicle score was 775, compared with 762 in 2008 and 749 in 2007.

On used vehicles, the average auto loan score was 684 in 2009, compared with 670 in 2008 and 663 in 2007.

Reviewing how credit has changed for new and used financing, Experian reported that super prime for both is up — 10.7 percent gain on new vehicles and 16.9 percent gain on used year-over-year.

Prime financing, meanwhile, is down 8.6 percent on new vehicles, but up 0.8 percent on used vehicles.

Looking at non-prime financing, the company said this is down 18.8 percent on new vehicles and down 8.7 percent on used.

Subprime financing is down 29.1 percent on new vehicles and down 16.9 percent on used. Finally, deep subprime financing is down 38.3 percent on new vehicles and down 8.1 percent on used vehicles.

Experian also revealed the top 20 lenders by market share as of the third quarter:

Chase: 7.2 percent

Toyota: 6.3 percent

Wachovia: 5 percent

GMAC: 4.6 percent

Ford: 3.6 percent

Honda: 3.3 percent

Bank of America: 2.3 percent

Capital One: 1.9 percent

Nissan/Infiniti: 1.7 percent

US Bank: 1.4 percent

5th 3rd Bank: 1.4 percent

BMW Bank: 1.2 percent

Citizens Auto: 1.1 percent

USAA Federal: 0.9 percent

Suntrust: 0.9 percent

BB&T Bank: 0.8 percent

Harris Bank: 0.7 percent

Volkswagen: 0.7 percent

CarMax: 0.7 percent

Mercedes-Benz: 0.6 percent

 

Top subprime lenders by market share include:

Wachovia: 6.9 percent

Capital One: 5.7 percent

Toyota: 5.6 percent

Chase Auto: 5.5 percent

GMAC: 3.7 percent

Ford: 3.7 percent

Honda: 2.9 percent

Nissan/Infiniti: 2.1 percent

CitiFinancial: 1.5 percent

Credit Acceptance: 1.2 percent

AmeriCredit: 1.1 percent

Navy FCU: 0.9 percent

Santander: 0.9 percent

Regional Acceptance: 0.9 percent

CarMax: 0.9 percent

BMW Bank: 0.8 percent

Westlake Financial: 0.6 percent

Wells Fargo: 0.5 percent

DriveTime: 0.5 percent

USAA Federal: 0.5 percent

 

Finally, top used-vehicle lenders include:

Wachovia: 5.7 percent

Chase: 4.5 percent

Toyota: 3 percent

Capital One: 1.8 percent

GMAC: 1.6 percent

Bank of America: 1.3 percent

US Bank: 1.2 percent

Ford: 1.2 percent

5th 3rd Bank: 1.2 percent

CarMax: 1.1 percent

BMW Bank: 1.1 percent

USAA Federal: 1.1 percent

Credit Acceptance: 1 percent

Honda: 1 percent

Citizens Auto: 0.9 percent

BB&T Bank: 0.9 percent

Navy FCU: 0.8 percent

TD Banknorth: 0.8 percent

Huntington: 0.7 percent

CitiFinancial: 0.6 percent