Full text of E.4 Automobile Credit : August 13, 1976

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FEDERAL

RESERVE

IN MAY, WHILE USEO-CAR LOAN VOLUME ROSE MODERATELY.

II
CREDIT EXTENDED

I
I
I
I

SEASONALLY
ADJUSTED
1975 I
MAY I

ALL HOLDERS
TOTAL CREDIT (MILLION $)
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT (»)

I
|
I
I

4 *75'

BANK DIRECT LOANS
TOTAL CREDIT (MILLION S)
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ($1

|
|
I
I

BANK PURCHASED PAPER
|
TOTAL CREDIT (MILLION $)
I
NUMBER OF CONTRACTS (THOUS.) I
AVERAGE SIZE OF CONTRACT ( * ) I

1976 I
APR. I

I
|
1976 |
MAY I

NOT SEASONALLY ADJUSTED
1975 |
MAY I

1976 I
APR. I

I
2.2901
. . 2 i j

I
2.9561
6061
4,878 I

31

2.6341
544|
4,8421

4,209|

lit!

6841
1481
4,6221

4 6061

4,2111

7321
166|
4,4101

9921
2051
4,8391

fail
•.710|

8091
1821
4,4451

2,0721

6541

II
1976 I I
MAY I I

*'577j

1,6151
6631
2,436j

1,7591
676|
2.602 1

1561
4,5711

TOO!
1521
4.6051

485*1
2131
2,2771

538 1
2181
2,4681
I

1.0591
2181
4,8581

9171
1941
4,7271

4621
1671
2,7661

6631
1221
5,434 l\l

I
2521
931
2,7191

4,7521 I

J

FINANCE COMPANIES
|
TOTAL CREDIT (MILLION $)
I
NUMBER OF CONTRACTS (THOUS.) I
AVERAGE SIZE OF CONTRACT ( ( ) I

4701
931
5.0541

6811
1251
5,4481

113*
5,4691

I
6981
129|
5,411 J

OTHER LENDERS
|
TOTAL CREDIT (MILLION $)
|
NUMBER OF CONTRACTS (THOUS.) I
AVERAGE SIZE OF CONTRACT ( » ) |

B9|
4,337|

5071
1071
4,7381

500!
1061
4,7171

486*1
1031
4,7181

ill!!

19o'|
* "

8

' i
283|
991
2,8591
1
169*1
2.5271

712*
2.579J

I
1.7171
7041
2.4391

5541
2241
2,4731

512I
2261
2.265 j

5581
2131

1
J]!

178*1
2,764|

222
2,622

279|
1021
2.7351

I

1981*
2.1921

2,4891

NOTE* DATA FOR TOTAL CREDIT AND AVERAGE SIZE OF CONTRACTS INCLUDE PRECOMPUTED FINANCE CHARGES AT MOST HOLDERS.

&ANK REFERS TO COMMERCIAL BANKS ONLY; OTHER LENDERS INCLUDE PRIMARILY CREDIT UNIONS, BUT ALSO MUTUAL SAVINGS
BANKS, SAVINGS AND LOAN ASSOCIATIONS AND AUTOMOBILE DEALERS.


3ZM
NEW-CAR INSTALMENT LOAN MATURITIES AT COMMERCIAL BANKS
I PUBLISHED MID-MONTH OF EACH QUARTER)
PERCENT OF CONTRACTS MADE DURING | MONTH WITH MATURITIES OFt
|
I
30 MONTHS OR LESS
3 1 - 3 6 MONTHS
OVER 36 MONTHS

I
I
I
I

PURCHASED PAPER
1975
MAY
15.0
69.7
15.4

I
|
I
I

DIRECT LOANS

1976
FEB.

1976
MAY

13.6
61.6
24.8

13.2
58.9
27.9

t

I

1976
FEB.

1976
MAY

26.1

28.0

7.9

12.2

24.4
60.3
15.4

66.1

59.8

TOTAL LOANS

M

1975
MAY

| |
| |

I

1975
MAY

20.1
67.0
12.9

1976
FEB.

I
|

18.7
61.3

I
|

20.0

1976
MAY

|

AUTOMOBILE CREDIT AT FINANCE COMPANIES - MAY 1976
I I
CREDIT EXTENDED

SEASONALLY
ADJUSTED

I
|

NOT SEASONALLY ADJUSTED

I I
||

USED CARS
SEASONALLY
ADJUSTED

|
|

NOT SEASONALLY ADJUSTED

1975 |
MAY |

1976 I
APR. |

1976 I
MAY I

1975 |
MAY I

1976 |
APR. |

1976 | |
MAY | |

1975 |
MAY I

1976 I
APR. I

1976
MAY

|
|

1975 |
MAY
|

1976
APR.

TOTAL CREDIT (MILLION $)
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( $ 1
AVERAGE AMOUNT FINANCED I S )
AVERAGE FINANCE RATE (%)

4701
931
5,054|
4,1921
13.191

6811
1251
5,4481
4,4691
13.241

6631 I
12211
5,434||
4,46711
13.1511
I I
38.81|
II
14.1M
19.511
II
55.211

17.771
29.3 j

30.0 j

2711
981
2,765|
2,4461
17.761
I
30.01

279|
1021
2,7351
2,2301
17.651

38.61

6961
1291
5,4111
4,4421
13.131
I
38.71

2831
991
2,859|
2,4241
17.751

37.61
I
•••
I
•••
I
I
64.41
11.71
I

5301
1061
5,0001
4,1251
13.091
I
37.71

2521
931
2,7101

AVERAGE MATURITY IMONTHS)
PERCENTAGE WITH MATURITIES*
OVER 42 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

6181
1131
5,4691
4,4801
13.261
I
38.71

319|
1121
2,8481
2,431|
17.581
I
30.3j

86.0!

86.01

86.01

86.01

2.41
14.21
33.31
50.01

3.6|
14.31
32.81
49.21

3.81
15.01
32.21
49.01

2.31
14.11
33.51
50.11

AVERAGE LOAN-TO-VALUE R A T I O t * 1
PERCENTAGE WITH L / V RATIOS*
OVER H O t
101-1101
91-100%
90S OR LESS

13.21
19.11

14,01

55.91

54.71
12.31

11.21

I

I

13.61
19.51

18.01

!

65.ll

10.61
I

55.81
10.91
I

11.211

2,2121

I

2.e!

52.81

52.61

II
II

31.81
15.21

31.11

12.81

30.5|
13.21

86.01

86.011

96.61

95.01

95.01

3.61
14.21
32.71
49.51

3.611
14.811
32.41 I
49.411

14.61
24.31
29.21
32.11

31.71
36.91

9.8|

22.11

22.21

31.21
37.31

29.61
I
I

|
|

1976
MAY
290
104
2,788
2,468
17.64

I

3.21
56.51

3.2
55.8

I
30.51
13.51
I
98 . 0 1

29.21
11.11
I
95.01

29.4
95.0

15.01
25.01
29.11
31.11

10.31
22.51
31.51
35.91

10.3
23.0
31.1
35 .5

...

j

NOTE: LOAN RATE AND LOAN TERMS DATA APPLY MAINLY TO CONTRACTS PURCHASED FROM DEALERS. AVERAGE SIZE 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 PRECOMPILED
FINANCE CHARGES INCORPORATED I N THE CREDIT EXTENSION STATISTICS.
AVERAGE AMOUNT FINANCED I S BASED ON DATA FROM A LIMITED •
SAMPLE OF FINANCE COMPANIES; I T EXCLUDES ANY PRECOMPUTED FINANCE CHARGES. FINANCE RATES ARE ANNUAL PERCENTAGE RATES AS
SPECIFIED BY REGULATION Z (TRUTH-IN-LENDING). AVERAGE LOAN RATE, MATURITY, AND LOAN-TO-VALUE RATIO DATA ARE OBTAINED
FROM A DIFFERENT SAMPLE THAN THE LOAN TERMS PERCENTAGE DISTRIBUTIONS. USED-CAR LOAN MATURITY AND LOAN-TO-VALUE DATA
APPLY ONLY TO CARS LESS THAN THREE YEARS OLD.


DATA NOT AVAILABLE BEFORE NOVEMBER,


1975

30.3

11.6