Full text of E.4 Automobile Credit : November 11, 1976
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F I : L ) E < A : S E R V i t a t i s t i c a l E r e l e a s e it.vhnttf 11, i«; AUTOMOBILE CREDIT - SEPTEMBER lV7fc I O v e r - 3 0 - M o n t h Used-Car Loans at Fipance Companies Percent Used C a r Dealer Cost R a t i o Over 100% CREDIT EXTENDED | I 1975 SEP. | I 1976 | SEP. I 1975 SEP. | | 1976 I AUG. I 1976 I I SEP. I I 1975 I SEP. I 1V76 | AUG. I 1976 I SEP. | I | I I I 2,4981 5451 4,5831 I 2,8111 5531 5,0831 I 2,7971 5521 5,0671 I 2,5321 5551 4,5621 I 3,1251 6231 5,016| II 2,78711 55111 5,05811 I 1,895| 726| 2,610| I I I I I I BANK PURCHASED PAPER I TOTAL CREDIT (MILLION S) I NUMBER OF CONTRACTS (THOUS.) I AVERAGE SIZE OF CONTRACT ( $ ) I I 5941 1371 4,3361 7041 1431 4,9231 596| 1391 4,288| 7391 1521 4,8621 II 68311 14011 4,87911 8701 1921 4,5311 I 6921 1391 4,9781 I I 970| 1981 4,899j I 1,8531 7581 2,4451 I I 5921 2501 2,3681 FINANCE COMPANIES TOTAL CREDIT (MILLION $ ) NUMBER OF CONTRACTS (THOUS.) AVERAGE SIZE OF CONTRACT ( $ ) I 5861 1161 5,0521 OTHER LENDERS TOTAL CREDIT (MILLION S) NUMBER OF CONTRACTS (THOUS.) AVERAGE SIZE OF CONTRACT ( $ ) I 4481 1001 4,4801 ALL HOLDERS TOTAL CREDIT (MILLION S) NUMBER OF CONTRACTS tTHOUS.1 AVERAGE SIZE OF CONTRACT ( $ ) BANK DIRECT LOANS TOTAL CREDIT (MILLION S I NUMBER OF CONTRACTS (THOUS.) AVERAGE SIZE OF CONTRACT ( $ ) NOTE: I I 1976 AUG. ! ! ! I 951| 1921 4,953j 8651 191| 4,529| 1,0891 2241 4,8621 6381 116| 5,5001 6291 1151 5,4701 I 5731 1131 5,0711 7101 1301 5,4621 I 5111 1001 5,1101 I 5131 1021 5,029| I 498| 1121 4,4461 5871 1171 5,0171 II 92211 18611 4,95711 II 61^1:1 11211 5,50011 II II 566|| 11311 5,00911 I 5251 2041 2,5741 I 6181 2521 2,4521 I I 4881 1741 2,8051 2641 961 2,750j I 2831 100| 2,8301 4721 2081 2,2691 I 5061 2001 2,530| 2,0261 7821 2,5911 I 1975 | SEP. | 1,7691 7401 2,391| I 6571 i 5551 2701 2391 2,4331 2,3221 I I I I 461| 5671 2021 1911 2,8071 2,518| I 1976 | AUG. | I 1,9571 7621 2,568| I I 6201 2581 2,403| I I 5101 1831 2,7871 1,933 761 2,540 252 2,393 529 2,741 2771 98| 2,8271 25l| 941 2,6701 2951 106| 2,7831 2,771 I 5251 2121 2,4761 4821 216| 2,231| I 5321 2151 2.4741 535 220 2,432 DATA FOR TOTAL CREDIT AND AVERAGE SIZE OF CONTRACTS INCLUDE PRECOMPILED FINANCE CHARGES AT MOST HOLDERS. BANK REFERS TO COMMERCIAL BANKS ONLY* OTHER LENDERS INCLUDE PRIMARILY CREDIT UNIONS, BUT ALSO MUTUAL SAVINGS LOAN ASSOCIATIONS AND AUTOMOBILE DEALERS. BANKS, SAVINGS AND 1976 SEP. 33; AUTOMOBILE CREDIT AT FINANCE COMPANIES NEW CARS SEASONALLY ADJUSTED CREDIT EXTENDED TOTAL CREDIT (MILLION $ ) NUMBER OF CONTRACTS (THOUS.) AVERAGE SIZE OF CONTRACT I S ) AVERAGE AMOUNT FINANCED ( $ ) AVERAGE FINANCE RATE ( * ) AVERAGE MATURITY (MONTHS) PERCENTAGE WITH MATURITIES: OVER 42 MONTHS OVER 36 MONTHS 3 1 - 3 6 MONTHS 30 MONTHS OR LESS 2 5 - 3 0 MONTHS 24 MONTHS OR LESS I I SEPTEMBER 1976 USED CARS II NOT SEASONALLY ADJUSTED || II SEASONALLY ADJUSTED 1975 | SEP. I 1976 AUG. | | 1976 | SEP. | 1975 SEP. | I 1976 | AUG. I 1976 SEP. || II 1975 | SEP. I 1976 | AUG. I 586| 116| 5,0521 4,1231 13.111 I 37.71 6381 1161 5,5001 4,501| 13.211 6291 1151 5,4701 4,4741 13.131 573| 113| 5,0711 4,134| 13.181 710| 1301 5,4621 4,4831 13.181 I 39.21 I 16.51 616 M 11211 5,50011 4,48311 13.2111 264| 96| 2,7501 2,3121 17.521 39.111 M 29.61 I I I ' ••• I •*• I I 31.91 14.11 I 95.51 I 10.51 2831 100 | 2,8301 2,4911 17.621 I 30.2 1 I I I 3.91 52.51 I 30.11 13.81 I 95.01 I 9.71 3l.0| 36.91 31.01 37.1 I 39.11 I 16.71 I I I I 1 1 62.31 12.41 1 1 1 52.51 10.9| 1 1 AVERAGE LOAN-TO-VALUE R A T I O U M PERCENTAGE WITH L / V RATIOS: I OVER 1 1 0 * I 101-110% 1 91-100% 1 90% OR LESS 1 87.01 1 2.51 15.11 33.21 48.91 88.01 1 3.11 16.6| 34.11 45.91 39.11 I 17.11 19.81 1 51..81 11..41 1 j 88,.01 1 3..01 16,.71 34.71 45 . 6 1 37.7| I M 16.8M 20.6} 20.OM 1 63.9| 10.7| 1 1 54.31 8.6| 1 1 53.211 10.0H 86.0| 1 2.4| 14.21 33.6| 49.8| 88.01 1 2.9| 16.01 34.61 46.51 | II II 87.011 II 2.9|| 15.911 35.0M 46.211 22.11 22.11 NOT SEASONALLY ADJUSTED I I -I1976 I SEP. I 1975 t SEP. I 1476 | AUG. I 2771 9b I 2,8271 2,4961 17.541 I 30.41 I I I 4.31 52.6 1 I 30.31 13.61 I 95.01 I 9.81 *2.31 31.11 37.01 2511 941 2,6701 2,2561 17.731 I 29.21 I I I •ti I ... I I 33.11 15.41 I 95.01 I 10.91 22.51 30.91 35.81 2951 1061 2,7831 2,4461 17.711 I 30.11 I I I 3.6| 51.21 I 31.11 14.01 I 95.01 1976 SEP. 2,771 2,436 17.75 9.6| 22.71 31.61 36.21 NOTE: LOAN RATE APD LOAN TERMS DATA APPLY MAINLY TO CONTRACTS PURCHASED FROM DEALERS. AVERAGE SIZE OF CONTRACT I S DERIVED BY DIVIDING TOTAL CREDIT EXTENSIONS FOR ALL FINANCE COMPANIES BY ESTIMATED NUMBER OF CONTRACTS; I T INCLUDES PRECOMPUTEO 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 PRECOMPUTEO FINANCE CHARGES. FINANCE RATES ARE ANNUAL PERCENTAGE RATES AS SPECIFIED BY REGULATION Z (TRUTH—IN—LENDING I . 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 3.8 49.2 32.0 15.0 95.0 10.1 22.5 31.3 36.2