Full text of E.4 Automobile Credit : September 20, 1976

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..

FEDERAL

RESERVE

yzn

..

statistical

StPTfMfci-A 20, 1976

AUTOMOBILE CREDIT - JULY 1V76

O v e r - 3 6 - M o n t h New-Car Loans at Finance Companies

release

Low-Down Payment New-Car Loans at Finance Companies

LOAN-TO-VALUE RATIO
OVER 100 PER CENT

!!
if

CREDIT EXTENDED
1975 I
JULY |
ALL HOLDERS
TOTAL CREDIT (MILLION » )

2,3*61
4 , 494

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

1976 I
JUNE I
2,8161
5561
5,0651

1976 I
JULY I

1975 I
JULY I

2,7591
542
5,090

I
2,7541
6161
4,4711

II
3,16511
6261
5,0561

141
5,007

6331
1491
4,2481

173
4,815

I
8051
1631

1975 I
JULY |
I
1,7451
2,"?i
I
5421
2331

1976 I
JUNE I
.1,7921
7011
2,5561
I
5621
2391
2,4351

1976 I
JULY |

l,

I£! 2,4191
'id

2,6041
I
I
5701
2311
2,4681

126
4,317

7141
146|
4,8901

BANK PURCHASED PAPER
TOTAL CREDIT (MILLION $1
NUMBER OF CONTRACTS (THOUS.)
AVERAte SIZE OF CONTRACT (»>

188
4,378

9191
1851
4,968j

193
4,891

J 975
223
4,372

**217
4,977

1,0941
224|
4,884|

;
502|
1971
2,548|

2,698|

4861
1761
2,761|

FWWC6 COMPANIES
TOTAL CREDIT (MILLION »»
NUWER OF CONTRACTS (THOUS.I
AVERAGE SIZE OF CONTRACT (8)

556
113
4,920

6461;
118|
5,4751

112
5,491

137
4,956

785
. 143
5,490

738)
135|
5,467j

262|
96|
2,729j

27# I
981
2,8371

2691
951
2,832|

467
107
4,364

132
4,939

528 !
1041
5,0771

43,1
1961
2,240|

4681
1921
2,4371

2,49?!

OTHER LENDERS
TOTAL CREDIT (MILLION $>
NUMBER OF CONTRACTS (THOUS.)
AVERAGE SIZE OF CONTRACT ( * )
NOTES

I

5371
1071
5,0191

.r*|

2>32

'i

!

.

1975 |
JULY |

!
i

I
I
5641
2431
2,3211

!

5531
216|
2,5601

1976 |
JUNE |

:si
j

:

2631
2,4301

576
235
2,451 .

2021
2*7281

1
511
184
2,777

I

2921
1081
2,7041

412!

DATA FOR TOTAL CREDIT AND AVERAGE SIZE OF CONTRACTS INCLUDE PRECOMPUTED FINANCE CHARGES AT HOST HOLDERS.
BANK REFERS TO COMMERCIAL BANKS ONLYI OTHER LENDERS INCLUDE PRIMARILY CREDIT UNIONS, BUT ALSO MUTUAL SAVINGS
BANKS, SAVINGS AND LOAN ASSOCIATIONS AND AUTOMOBILE DEALERS.




3

J

I
3211
1121

5271

104
2,827

162
2,494

3 %

AUTOMOBILE CREDIT

AT FINANCE COMPANIES -

CARS
CREDIT EXTENDED

SEASONALLY
ADJUSTED
1976 |
JUNE 1

1976
JULY

TOTAL CREDIT ( M I L L I O N $ )
NUMBER OF"CONTRACTS (THOUS.)
AVERAGE S I Z E OF CONTRACT C$1
AVERAGE AMOUNT FINANCED ($>
AVERAGE FINANCE RATE ( X )

5561
1131
4,920|
4,066|
13.151

646|
1181
5,4751
4,4891
13.251

615|
1121
5,491|
4,502|
13.231

AVERAGE MATURITY (MONTHS*
PERCENTAGE WITH M A T U R I T I E S :
OVER 42 MONTHS
3 7 - 4 2 MONTHS
OVER 36 MONTHS
3 1 - 3 6 MONTHS
3 0 MONTHS OR LESS
2 5 - 3 0 MONTHS
2 4 MONTHS OR LESS

37.61
1
mmm
• ••
1
1
62.9|
12.11
I

AVERAGE LOAN-TO-VALUE R A T I O ! * )
PERCENTAGE WITH L / V R A T I O S :
OVER 110%
101-110*
91-lOOt
9 0 * OR LESS

j
87.01
1
2.51
14.81
33.01
49.71

|

38.61
i
13.71
1
53.81
12.51
1
1
86.0|
1
3.9|
15.2 1
32.51
48.61

NOT SEASONALLY ADJUSTED

1
1

|
|

1975
JULY

|
|

38. 8|
1
1 5 . ,41
1 9 . .41
1
5 3 ., o |
1 1 . .61
1
1
8 7 ,. o !
i
2.- 9 |
15,. 7 1
33,. 1 1
4 8 ,. 1 1

JULY 1 9 7 6
USFL CARS

II

1975
JULY

|
|

6791
137|
4,9561
4,074|
13.091

1976
JUNE

|
I

785|
1431
5 , 49 C.
4,5021
13.171

37.81
1
1
1
1
64.91
9.9|
1
1

38.9|
1
14.71
19.91
1
54.71
10.71
1
1

87.0|
1
2.4|
14.51
33.61
49.61

86.01
1
3.7|
15.01
32.81
48.6|

•••
• ••

II

||
1976
JULY

||
||

SEASONALLY
ADJUSTED
1975
JULY

|
|

73611
135||
5,467||
4,516||
13.1611

2621
961
2,729 1
2,261|
17.6^1

39.011

!!

29.41
1
1
1
...
i

1!
II

i
30.6|
14.91

1|
15.4M
20.411

54.511
9.5| |

87.011
II
2.811
15.511
33.6||
48.1M

96.31
1
12.01
23.01
29.91
35.3|

1976
JUNE

NOT SEASONr
ALLY ADJUSTED

1
1
|
|

278|
98|
2,8371
2,4591
17.731

1976
JULY

|
|

26V |
951
2,8321
2,4711
17.691

30.1 |
1
1
1
3.2|
52.41
1
30.4|
13.71

3 0 ,. 0 1
1
1
1
3,. 2 1
5 2 ,. 3 1
1
30 . 6 1
13 . 5 1

95.01

94 • 0 |
1
9 .51
22 . 1 1
31 - 3 1
37 • 5 |

9.7|
22.21
31.0|
37.91

|
|

197o
JUNE

1081
2,7041
2,2641
17.691

|

3*1 I
1UI
2,666|
2,4b4|
17.661

29.51
1

30.* |
1

1
1
I

1
3.3|
54.21
1
30.21
12.31

1975
JULY

• ••
• ••

31.21
13.91
96.0|
12.21
23.91
30.11
33.8|

|
I
104
£ ,827
2,461
17.71

95.01
1
10.11
22.91
31.21
36.01

NOTES 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 PRECOMPU1ED
FINANCE CHARGES INCORPORATED I N THE CREDIT EXTENSION S T A T I S T I C S .
AVERAGE AMOUNT FINANCED I S BASED ON DATA FROM A L I M I T E D
SAMPLE OF FINANCE COMPANIES; IT EXCLUDES ANY PRECOMPUTED FINANCE CHARGES.
FINANCE RATES ARE ANNUAL PERCENTAGE RATES AS
S P E C I F I E D BY REGULATION 2 I T R U T H - I N - L E N D I N G I .
AVERAGE LOAN RATE, 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, 1975




30.2

3.1
53.0
31.1
12.7
95.0
9.8
23.1
31.4
35.7