ATLANTA -

The Dealertrack Credit Availability Index showed overall improvement in February. But when Cox Automotive looked closer at the segments that often cater to consumers with less-than-prime credit, the trends differed a bit.

Analysts reported that credit availability increased in February to a point showing the most accessibility in nine months.

The index reading came in at 95.8 in February, increasing 1.1% and reflecting that auto credit was easier to get in the month compared to January.

Cox Automotive added that access remains tighter by 3.4% year-over-year.

“New-vehicle financing loosened the most, while used (certified pre-owned) and financing provided through independent used dealers loosened the least,” analysts said in a report that accompanied the latest index reading.

“Across all auto lending in February, approval rates increased from January, subprime share increased, negative equity share increased, and the share of terms longer than 72 months increased, but yield spreads widened,” analysts continued.

Looking closer at the February data, Cox Automotive determined credit loosened the most at captives, expanding by 2.1%. Conversely, what Cox Automotive classifies as auto-focused finance companies, credit loosened by just 1.3%.

Each Dealertrack Auto Credit Index tracks shifts in approval rates, subprime share, yield spreads and contract details including term length, negative equity and down payments. The index is baselined to January 2019 to provide a view of how credit access shifts over time.