Full text of E.4 Automobile Credit : November 2, 1976

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FEDERAL

:

RESERVE

s t a t i s t i c a l

,-

Finance Companies >
-

.
1973

1 1974

l

e

a

s

e

1976

Low-Down P a y m e n t N e w - C a r Loans at F i n a n c e C o m p a n i e s

LOAN-TO-VALUE RATIO
OVER 100 PER CENT

-

Commercial Banks
i

e

NOVEMBER 2 ,

AUTOMOBILE CREDIT

N e w - C a r C o n t r a c t s O v e r - 3 6 - M o n t h s ( N o t S.A.)

r

1
1975

II
SEASONALLY
ADJUSTED

CREDIT EXTENDED
|
I

1976 I
JULY I

1976 I
AUG. I

1975 I
AUG. I

1976 |
JULY I

1976 I I
AUG. I I

2,4051
533|
4,5121

I
2,759 1
5421
5,090|

I
2,8111
5531
5,0831

I
2,5571
5741
4,455j

3,1651
6261
5,0561

3,12511
6231 I
5,0161 I

1,7751
7421
2,392 1

7061
1411
5,0071

I
6921
139|
4,9781

5971
1431
4,1751

I
8051
1631
4,9391

M
739 II
1521 I
4,8621 I

I
5661
2471
2,2911

I
1,7371
6671
2,604|
I
I
5701
2311
2,4681

944!
1931
4,8911

I
970|
198|
4,8991

i
8911
200|
4,4551

I
1,094|
224|
4,884j

11
1,0891|
2241 I
4,8621|

I
4971
1951
2,5491

I
4861
1761
2,7611

i
5451
1101
4,9551
I

I
6151
1121
5,4911

638j
U6|
5,5001

I
5811
1181
4,9241

7381
1351
5,4671

II
7101 |
1301 |
5,4621 I

94|
2,7661

4411
100|
4,4101

494 I
96|
5,1461

Sill
1001
5,1101

488|
1131
4,3191

528 j
1041
5,0771

II
5871 I
11711
5,01711

2,1941

1975
AUG.
ALL HOLDERS
TOTAL CREDIT (MILLION $ )
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( $ )
BANK DIRECT LOANS
TOTAL CREDIT (MILLION $ )
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( $ )
BANK PURCHASED PAPER
TOTAL CREDIT CMILLION $ )
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( $ )
FINANCE COMPANIES
TOTAL CREDIT (MILLION $ )
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( * )
OTHER LENDERS
TOTAL CREDIT (MILLION $ )
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( $ )
NOTE:

562!
1371
4,2481
I
I
8371
1861
4,5001

M

1975
AUG.

I
I

2601

I
4521

206|

1975
AUG.
I
1,8951
7261

I
I

1976 I
JULY I

I
4881
1741
,.30,,

I
1,7561
7471
2,3511
I
I
5401
2411
2,2411
I
I
5031
1991
2,528|

1841
2,777J

510
183
? ,787

I
2691
95|
2,8321

2831
1001
2,8301

259!
961
2,6981

294|
1041
2,8271

295
106
2,783

I
4121
1651
2,4971

I
5061
2001
2,5301

I
4541
2111
2,1521

I
4041
1621
2,49*1

532
215
2,474

2,610j

6181
2521
2,452 I

1,7851
6851
2,6061

1,957
762
2,568

I
5761
2351
2,4511

258
2,403

J

DATA FOR TOTAL CREDIT AND AVERAGE SIZE OF CONTRACTS INCLUDE PRECOMPUTED FINANCE CHARGES AT MOST HOLDERS.
INCLUDE PRIMARILY CREDIT UNIONS, BUT ALSO MUTUAL SAVINGS
DEALERS.

BANK REFERS TO COMMERCIAL BANKS ONLY* OTHER LENDERS

BANKS, SAVINGS AND LOAN ASSOCIATIONS AND AUTOMOBILE


3 3 o

NEW-CAR

INSTALMENT LOAN MATURITIES AT COMMERCIAL BANKS

PERCENT OF CONTRACTS MllDE DURING | -

AUTOMOBILE CREDIT AT FINANCE COMPANIES I
CREDIT EXTENDED

I
I

NEW CARS
SEASONALLY
ADJUSTED

I
I

1975
AUG.

I
I

TOTAL CREDIT (MILLION $ )
NUMBER OF CONTRACTS ( T H O U S . )
AVERAGE S I Z E OF CONTRACT ( » )
AVERAGE AMOUNT FINANCED <>)
AVERAGE FINANCE RATE I X )

I
1
I
I
1

5451
1101
4,9551
4,096|
13.121

AVERAGE MATURITY (MONTHS)
PERCENTAGE WITH MATURITIES:
OVER 4 2 MONTHS
3 7 - 4 2 MONTHS
OVER 3 6 MONTHS
3 1 - 3 6 MONTHS
3 0 MONTHS OR LESS
2 5 - 3 0 MONTHS
2 4 MONTHS OR LESS

1
1
1
1
1
1
1
1
1

.71
1
1
1
1
.11

AVERAGE LOAW-TO-VALUE R A T I O ( X H
PERCENTAGE WITH L / V R A T I O S :
|
OVER 110%
1
101-110%
1
91-100%
1
90% OR L E S S
1

II

I

I

1976
JULY

I
I
I
I

6151
1121
5,4911
4,5021
13.231

1976
AUG.

I
I

6381
1161
5,5001
4,5011
13.211

NOVEMBER

1976

M
NOT SEASONALLY ADJUSTED
1975
AUG.

I
I

5811
1181
4,9241
4,0821
13.101

1

8|
1
.41
.41
1
.01
.61
1
1

H
1
.71
.21
1
5|
9|
1
1

81
1
1
1
1
31
11
1
1

o!
i
.31
.21
.91
.01

.ol
1
.91
.71
.11
.11

o|
1
.11
.61
.11
.91

.o|
1
.21
.51
.61
81

1976
JULY

|
|

7381
1351
5,4671
4,516|
13.161
39.0|
1
15.41
20.4|
1
54.51
9.5|
1
1

I I
II
1976
AUG.

II
II

7101
1301
5,4621
4,4831
13.181

I
I
1
|
|

39.21 i
II
16.511
20.61|
1 1
54.311
8.611
II

||

87.0|

88.0M

1
2.81
15.51
33.61
48.11

2.9| |
16.01|
34.611
46.51 I

I

USED CARS
SEASONALLY
ADJUSTED
1975
AUG.

I
I

|
I

1976 I
JULY |

1976
AUG.

I
|

2601
941
2,7661
2,293|
17.611

2691
951
2,8321
2,4711
17.691

2831
1001
2,8301
2,4911
17.621

NOT SEASONALLY ADJUSTED
1975
AUG.

|
|

2591
961
2,6981
2,2611
17.701

1976
JULY

|
|

2941
104|
2,8271
2,4811
17.711

1976
AUG.

106

5|
1
1
1
1
1
1
.11
5|

.01
1
1
1
.21
.31
1
.6 1
.51

21
1
1
1
9|
5|
1
11
.81

4|
1
1
1
1
1
1
41
.61

21
30.1
1
1
1
11
01
51.2
1
.11 " 3 1 . 1
7|
14.0

51
1
.41
.51
30.91
.31

.01
1
.51
.1 1
.31
.51

.01
1
.71

.01
1
.81
.21
.01
.01

•°i

.01
11

.81
.11
.41
.71

NOTE* LOAN RATE AND LOAN TERMS DATA APPLY MAINLY TO CONTRACTS PURCHASED FROM DEALERS.
AVERAGE S I Z E OF CONTRACT I S DERIVED
BY D I V I D I N G TOTAL CREDIT EXTENSIONS FOR ALL FINANCE COMPANIES BY ESTIMATED NUMBER OF CONTRACTS} I T INCLUDES PRECOMPUTED
FINANCE CHARGES INCORPORATED IN THE CREDIT EXTENSION S T A T I S T I C S .
AVERAGE AMOUNT FINANCED I S BASED ON DATA FROM A LIMITED
SAMPLE OF FINANCE COMPANIESt I T EXCLUDES ANY PRECOMPUTED FINANCE CHARGES.
FINANCE RATES ARE ANNUAL PERCENTAGE RATES AS
S P E C I F I E D BY REGULATION Z ( T R U T H - I N - L E N D I N G I .
AVERAGE LOAN R A T E , MATURITY, AND LOAN-TO-VALUE RATIO DATA ARE OBTAINED
FROM A DIFFERENT SAMPLE THAN THE LOAN TERMS PERCENTAGE D I S T R I B U T I O N S .
USED-CAR LOAN MATURITY AND LOAN-TO-VALUE DATA
APPLY ONLY TO CARS LESS THAN THREE YEARS OLD.
...

DATA NOT AVAILABLE BEFORE NOVEMBER, 1 9 7 5




'Ml

2
17.71

I

22!7