SCHAUMBURG, Ill — While most new-car loans fall into the prime credit category, an Experian Automotive executive recently pointed out that loans for subprime customers are still out there, particularly in the used-vehicle market.

"While the lion's share of the new-car market is being driven by prime lending, loans for subprime customers are still out there, especially in the used market, if customers and automotive retailers know where to look," explained Melinda Zabritski, director of automotive credit for Experian Automotive.

"Understanding which lenders have programs specific to these markets can make a big difference in getting customers with credit challenges into a vehicle," she added.

Experian discovered that there was a "slight loosening" of credit for used-vehicle financing in the fourth quarter compared to the third quarter.

Interestingly, subprime, which Experian said includes non-prime, subprime and deep-subprime, came in at 36.42 percent for the fourth quarter, up from 33.99 percent in the third quarter of 2009. Officials said lending in this credit category was largely on used-vehicle sales.

Meanwhile, new-vehicle sales saw a 0.7-percent drop in subprime loans, down from 16.91 percent of new-vehicle loans financed in the third quarter to 16.79 percent in the fourth quarter.

Overall, Experian found that the total dollar value of at-risk auto loans dropped to $26.58 billion in the fourth quarter. This is down 10 percent from $29.58 billion at risk in the same period of 2008.

Although delinquencies are apparently still growing, Experian said that the growth rates for 30-day and 60-day delinquencies saw only "minimal increases" in the fourth quarter.

More specifically, the 30-day delinquency rate was up just 1 percent year-over-year, or 3.31 percent to 3.34 percent in delinquencies. Meanwhile, the 60-day delinquency rate rose 3.5 percent year-over-year from 0.93 percent to 0.96 percent.

According to company officials, the drop in dollars at risk and the "deceleration" of delinquency rates are positive signs for lending. While officials noted that some of the decline in dollars at risk can be attributed to lower loan volumes over the past two years, a large portion is from more conservative lending practices that were put into effect in late 2008.

"While delinquencies are still higher than the industry would like, we have not seen an alarming run-up in delinquencies like we did a year ago," explained Scott Waldron, president of Experian Automotive.

"These are positive signs that the automotive lending industry is getting back on solid footing," he continued.

Other findings from Experian include:

—The average credit score for new-vehicle customers remained flat at 775 for the second consecutive quarter.

—The average credit score for used-vehicle customers dropped to 680 from 684 in the third quarter.

—The average loan amount for a new vehicle climbed to $25,580 in the fourth quarter from $22,712 in the third quarter.

—The average loan amount for a used vehicle jumped to $16,276 from $15,720 in the third quarter.