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In a recently released report, Equifax noted that there has been a large increase in the number of auto loans originated over the past two years.

According to Equifax's National Credit Trends Report, auto lenders increased loans by more than 47% between July 2009 and July 2011. That is a jump in originations from 581,300 in July, 2009 to 854,800 in July 2011. During the first seven months of 2011, there were11.3 million new auto loans approved, which is a 13.2 percent increase over the same period in 2010.

Michael Koukounas, Senior Vice President of Special Client Services for Equifax, had this to say ''With unemployment rates remaining elevated for a prolonged period, auto lenders have proactively adopted more comprehensive data and verification tools for greater loan-level transparency in evaluating a wider band of consumers, which has helped enable the auto lending industry to recover more quickly than others.''

Auto finance companies have been lending to subprime auto loan buyers more freely and delinquency rates have been dropping over the same two year period, further fueling loan originations.