The below-subprime sector is the fastest-growing credit tier, according to the financial research group Ex-perian Automotive. And some dealers are taking advantage of the growth, despite tight credit markets. Below-subprime loans - financing for customers with credit scores below 550 - made up 13.7 percent of all open auto loans in the third quarter, up from 9.6 percent in the fourth quarter of 2006. Through the third quarter, 56 percent of open auto loans were to prime customers, or those with credit scores above 679. But that percentage has decreased 11.1 percent since the fourth quarter of 2006. During the same period, the percentage of open loans that are below-subprime increased 42.7 percent.
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