Full text of E.4 Automobile Credit : April 14, 1976
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FEDERAL
statistical
r
e
l
e
a
s
e
-M-MoilbxNal S.A.I
THE TRENP TOWARDS LONGER NEW-CAR LOAN MATURI"
RENEWED MOMENTUM I N FEBRUARY.
AT COMMERCIAL BANKS. OVEI^^A-rfONTH
CONTRACTS REACHED 2 0 PER CENT OP THE TOTAL, .THREE PERCENT
POINTS HIGHER THAN THE PREVIOUS READING I N NOVEMBER. AT FINANCE
COMPANIES* THE 0VER-"36-M0NTH PROPORTION HAS RISEN NEARLY 5
PERCENTAGE POINTS I N 2 MONTHS. MEANWHILE, *T FINANCE COMPANIES,
LOAN-TO-VALUE RATIOS EDGED UP FROM RECENT LOWS, IMPLYING LOWER
DOWNPAYMENTS, BUT SEASONALLY ADJUSTED FINANCE RATES ROSE
MODERATELY I N BOTH NEW- AND USED-CAR MARKETS.
VOLUME OF TOTAL AUTO CREDIT EXTENDED WAS DOWN SLIGHTLY
FROM JANUARY, AFTER SEASONAL ADJUSTMENT, WITH AN INCREASE I N
NEW-CAR VOLUME NOT QUITE OFFSETTING A DECLINE I N USED-CAR
FINANCING. BANKS RECORDED HIGHER VOLUME I N EACH CATEGORY, WHILE
FINANCE COMPANIES AND OTHER LENDERS EXPERIENCED DECLINES,
CREDIT EXTENDED
I
I
1975 |
FEB. |
ALL HOLDERS
TOTAL CREDIT ( M I L L I O N * 1
NUMBER OF CONTRACTS ITpOUS.)
AVERAGE SIZE OF CONTRACT ( S I
I
I
|
I
I
2,38*
5571
*,280
5*71
4,901j
BANK DIRECT LOANS
TOTAL CREDIT ( M I L L I O N *>
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE QF CONTRACT ( S I
I
|
I
I
452
110
4,109
4,5971
BANK PURCHASED PAPER
TOTAL CREDIT ( M I L L I O N »)
NUMBER QF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( S I
I
|
I
I
878I
2121
4,1421
FINANCE COMPANIES
TOTAL CREDIT ( M I L L I O N I I
NUMBER OF CONTRACTS (THOUS.I
AVERAGE SIZE OF CONTRACT (S>
I
I
I
|
OTHER LENDERS
|
TOTAL CREDIT ( M I L L I O N $ )
I
NUMBER OF CONTRACTS (THOUS.I I
AVERAGE SIZE OF CONTRACT (»> I
NOTE*
1976
JAN.
|
I
2,681|
1976 I
FEB. I
1975 I
FEB. I
1976 I
JAN. I
2,0211
1976 | |
FEB. I I
1975
FEB.
I
|
1976 |
JAN. I
1976 |
FEB. |
1975 I
FEB. I
1976
JAN.
1,4311
6161
2,3271
2,501j
I
1,6721.
676)
2,4731
I
1,3551
5731
2,365j
- ' I
1,5791
6181
2,5551
1,565
619
2,526
198
2,379
I
|
*121
*,905j
2,17511
*4*11
4,69911
3631
89|
*,079j
*36 j
9*1
*,638|
?iill
4,80411
I
4141
1821
2,2761
4851
207|
2,3431
509|
219|
2,324j
3671
1681
2,304j
45*1
1691
2,4021
9251
1951
*,7**1
I
730!
17*|
4,1951
6791
1331
5,1051
73611
15711
4,68811
3921
1591
2,4651
456 |
178|
2,5621
462 {
1681
2,564j
3691
1*9|
2,4771
2,602 I
6751
1291
5,233|
6671
12*1
5,3791
Sill
501!
961
5,*19I
II
'%ll
Ml
•sl
I
2221
86|
2,581j
5871
1311
*,*811
5071
1031
*,9221
377}
1701
1976
FEB.
2,7581
5581
*,9*3J
1,9251
4*91
*,2871
6591
1361
*,8*6j
8721
1681
5,1?0|
1
6561
1391
4,719l
|
3981
961
4,1461
d
I
*,169|
*051
89|
4,5511
II
II
«=ll
8*1 I
4,94011
2,5211
2,808|
2,7771
3831
1781
2,1>21
559!
2271
2,4631
I
4201
1751
2,4001
2,21B|
4191
1611
I
I
2411
2,869i
2,835
4651
1841
2,5271
166
2,476
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
OTHER LENDERS
RfcFERS TO COMMERCIAL BANKS ONLY:AND AUTOMOBILE
BANKS, SAVINGS AND LOAN ASSOCIATIONS
NEW-CAR INSTALMENT LOAN MATURITIES AT COMMERCIAL BANKS
(PUBLISHED MID-MONTH OF EACH QUARTER)
|
PERCENT OF CONTRACTS MADE DURING I
MONTH WITH MATURITIES OF:
I
I
1975
FEB.
1
I
I
I
I
I
I
15.5
70.6
13.9
I
I
I
|
30 MONTHS OR LESS
3 1 - 3 6 MONTHS
OVER 36 MONTHS
PURCHASED PAPER
1
1975
I
1976
NOV.
|
FEB.
| I
1 I||
||
DIRECT LOANS
TOTAL LOANS
II
I
I
I
|
1976
FEB.
I I
II
1975
FEB.
I
I
I
14.6
64.8
20.5
1975
NOV.
27.1
62.1
I
I
|
28.0
59.d
II
I I
I I
I I
20.3
69.1
lu.ti
I
FINANCE COMPANY AUTOMOBILE CREDIT -
10.8
|
12.2
I
I
1975
NOV.
I
I
FEBRUARY 1976
CREDIT EXTENDED
TOTAL CREDIT (MILLION * 1
NUMBER OF CONTRACTS ITHOUS.)
AVERAGE SIZE OF CONTRACT I t )
AVERAGE AMOUNT FINANCED I S )
AVERAGE FINANCE RATE I * )
AVERAGE MATURITY (MONTHS)
PERCENTAGE WITH MATURITIES!
OVER * 2 MONTHS
3 7 - 4 2 MONTHS
OVER 36 MONTHS
3 1 - 3 6 MONTHS
30 MONTHS OR LESS
2 5 - 3 0 MONTHS
24 MONTHS OR LESS
1975 I
FEB. I
i
I
6561
1391
4,7191
3,960|
13.101
6751
129
5,233
4,368
37.41
|
AVERAGE LOAN-TO-VALUE RATIOtSl'l
PERCENTAGE WITH L / V RATIOSI
I
OVER 110*
|
101-110*
|
91-100*
|
9 0 * OR LESS
I
::: j
68.51
10.31
6671
1241
5,3791
4,4291
13.171
I
38.31
11.11
18.71
17.9
I
61.21
11.31
5111
4,6881
3,8&3|
13.071
5,219
4,337
13.16
37.31
... !
58.91
11.51
86.01
I
66.o!
3.01
13.91
33.51
49.91
3.51
14.31
32.81
50.01
15.6|
34.4|
47.31
2611
941
2,7771
2,2531
17.711
29.11
29.6|
30.41
2,1661
2.61 ,
J
2221
661
2,581|
2,2151
17.391
2411
641
2,669 I
2,3771
17.251
29.71
I
30.31
... i
I
>i:l\
55.6|
53.21
27.81
13.61
31,01
12.91
26.11
25 . 9 1
12.fl
66.0M
87.01
2.6|
17.721
27B|
99|
2,8081
2,3301
17.641
2421
96|
2,5211
1976 I
JAN. I
: : : !
29.41
16.11
96.51
96.01
di
id
96.01
I
13.21
23.51
26.91
34.51
94.01
13.51
23.81
21.11
33.51
96.01
I
11.41
23.51
30.51
34.41
12.111
88.01
15.01
34.51
48.21
510| |
96||
5,3121 |
4,35611
13.1411
II
38.211
II
U.4||
18.211
II
58.3M
II
,,l
33.2
49.H
49.011
30.61
33.11
•••
I
I
13.61
10.21
21.4|
30.61
37.61
NOTES LOAN RATE AND LOAN TERMS DATA APPLY MAINLY TO CONTRACTS PURCHASED FROM DEALERS. THE AVERAGE SIZE pF CONTRACT
STATISTICS ARE ESTIMATED BY DIVIDING TOTAL CREDIT EXTENSIONS FOR ALL FINANCE COMPANIES BY THE ESTIMATED NUMBER OF
CONTRACTS* THEY INCLUDE PRECOMPUTEO FINANCE CHARGES INCORPORATED IN THE CREDIT EXTENSION STATISTICS. THE AVERAGE
AMOUNT FINANCED STATISTICS ARE BASED ON DATA OBTAINED FROM A LIMITED SAMPLE OF FINANCE COMPANIES* THEY DO NOT INCLUDE
ANY PRECOMPUTEO FINANCE CHARGES. FINANCE RATES ARE ANNUAL PERCENTAGE RATES AS SPECIFIED BY REGULATION I (TRUTH-IN
LENDING). AVERAGE LOAN RATE, MATURITY AND LOAN-TO-VALUE RATIO DATA ARE OBTAINED FROM A DIFFERENT SAMPLE THAN TH( LOAN
TERMS PERCENTAGE DISTRIBUTIONS. THE USEO-CAR LOAN MATURITY AND LOAN-TO-VALUE DATA APPLY ONLY TO CARS LESS THAN TWEE
YEARS OLD.
...
DATA NOT AVAILABLE BEFORE NOVEMBER, 1975
22.8
