The auto market showed steady growth in the second quarter, with leasing and used vehicles gaining particular momentum, according to Experian’s recent State of the Automotive Finance Market report.

Used vehicle loans saw record growth in terms of average dollar amount and overall loan share during the second quarter, Experian said. The average used vehicle loan reached an all-time high of $19,101, compared with $18,671 in the year-ago quarter. Used vehicle loans also accounted for 55.6 percent of all vehicle loans in the second quarter.

Experian said that growth was driven by jumps in prime and super-prime consumer choosing used vehicles. In the second quarter this year, 43.3 percent of super-prime consumers and 59.9 percent of prime consumer chose used vehicles, representing year-over-year increases of 10 percent and 6.6 percent respectively.

The share of new vehicles leased increased from 26.92 percent in the year-ago quarter to 31.44 percent in the second quarter this year. Used vehicle leasing increased from 3.26 percent to 3.71 percent over that time period.

According to Experian’s report, both 30- and 60-day loan delinquencies were up slightly in the second quarter, but the combined subprime and deep-subprime share of new and used auto loans and leases dropped year-over-year from 23.3 percent to 22.8 percent.

Thirty-day delinquencies increased year-over-year from 2.19 percent to 2.22 percent, while 60-day delinquencies increased 0.56 percent to 0.62 percent over that same time frame.

On the whole, auto lenders made more than five times as many loans to super-prime customers as to deep-subprime customers (17.9 percent versus 3.5 percent, respectively).

“Automotive lenders seem to be keeping cool heads when it comes to how much risk they are willing to take with subprime and deep-subprime customers,” Melinda Zabritski, Experian’s senior director of automotive finance, said in a statement. “Yes, subprime and deep-subprime loans are growing, but the entire market is growing from a volume perspective across all risk tiers. In fact, the subprime loans have actually dropped as a percentage of the total market. That, combined with only a slight uptick in delinquencies, makes clear that the sky is not falling.”

Experian also found:

• The average monthly payment for a used vehicle increased to $364, from $361 in Q2 2015.
• The average monthly payment for a new vehicle loan was $499, up from $483 in Q2 2015.
• The average new vehicle loan amount was $29,880, up $1,356 from the Q2 2015 average new vehicle loan amount of $28,524.
• Average customer credit scores for new vehicle loans fell slightly, from 709 in Q2 2015 to 708.
• The average loan term for a new vehicle went from 67 months in Q2 2015 to 68 months.