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Consumers Finance Toyotas

experianExperian Automotive announced that Toyota grabbed top honors in the third quarter, claiming 14.09 percent of all new vehicles financed.

Ford was second with 13.16 percent, and Chevrolet was third with 11.1 percent. Findings from Experian's analysis showed market share for nonprime, subprime and deep-subprime automotive loans for new vehicles grew by 13.6 percent and new vehicle leasing grew by 7.53 percent year over year.

The analysis found that loans financed for new vehicles to customers with nonprime, subprime or deep-subprime credit ratings increased to 24.84 percent in the third quarter from 21.87 in the third quarter of 2011. For used vehicles, the total subprime financing market increased to 54.43 percent from 51.6 percent in the third quarter of 2011.

Findings from the report showed that lenders still are more risk averse than they were prior to the Great Recession. In the third quarter of 2007, the average credit score for a new vehicle loan was 749, compared with 755 in the third quarter of 2012.

Consumers who financed a Volvo comprised the highest average credit scores (818), while those who purchased a Mitsubishi made up the lowest average credit scores (694).