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•iSSSsi.:- FEDERAL RESERVE statistical release (Ill • f*AL • For immediate r e l e a s e A p r i l 22, 1975 6.11 F i n a n c e Rate and Other Terms on New and Used Car I n s t a l m e n t C r e d i t C o n t r a c t s Purchased from D e a l e r s by Major Auto Finance Companies Period Customer r a t e (per c e n t per annum) New Used 1/ Total Average m a t u r i t y (months) Used Total New Average amount financed (dollars) New Used Total R a t i o of amount f i n a n c e d t o wholesale value (per c e n t ) Used Total New 1974 January February March April May June July August September October November December 12.39 12.33 12.29 12.28 12.36 12.50 12.58 12.67 12.84 12.97 13.06 13.10 16.56 16.62 16.69 16.76 16.86 17 .06 17 .18 17 .32 17.61 17.78 17.88 17.89 13.42 13.39 13.38 13.39 13.48 13.63 13.72 13.82 14.03 14.16 14.26 14.29 35.2 35.3 35.4 35.5 35.6 35.9 35.9 36.0 35 .9 36.0 36.2 36.4 29.3 29.4 29.2 29.2 29.1 29.0 29.0 29.5 28.6 28.5 28.3 28.1 33.7 33.8 33.8 33.9 33.9 34.1 34.2 34.3 34.1 34.1 34.2 34.3 3,369 3,402 3,450 3,480 3,531 3,587 3,636 3,622 3,625 3,793 3,906 3,976 1,905 1,945 1,921 1,947 1,974 1,991 2,005 1,994 2,005 2,055 2,102 2,112 2,785 2,806 2,856 2,884 2,958 3,025 3,074 3,076 3,043 3,167 3,213 3,257 88 88 88 88 88 88 88 88 87 87 87 86 97 97 98 99 99 99 99 99 99 97 97 96 90 91 91 91 91 91 91 90 90 89 89 88 2,212 2,215 3,209 3,247 87 87 95 96 89 89 975 29.8 35.1 3,931 36.9 14.12 13.08 17.27 January 29.7 3 5 . 3 37 .3 3,863 14.14 13.07 17.39 February March April Note: Rates a r e r e p o r t e d on an annual percentage r a t e b a s i s as s p e c i f i e d in ( T r u t h - i n - L e n d i n g ) . Data on the amount financed exclude f i n a n c e charges . 1/ Decreases in f i n a n c e r a t e s f o r used c a r s from December t o January r e f l e c t companies in e s t a b l i s h i n g " a g i n g dates 1 1 f o r used v e h i c l e s . the F e d e r a l Reserve B o a r d ' s R e g u l a t i o n Z customary procedures observed by f i n a n c e