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FEDERAL

RESERVE

statistical

release

For immediate release
February 5,1973

G.ll

Finance Rate and Other Terms on New and Used Car Instalment Credit Contracts
Purchased from Dealers by Major Auto Finance Companies

Period

Customer rate
(per cent per annum)
New
Used
Total

Average maturity
(months)
New
Used
Total

Average amount
financed
(dollars)
Used
Total
New

Ratio of amount
financed to wholesale value
(per cent)
New
Used
Total

1971
December

12.11

16.26

13.14

34.8

28.9

33.3

3,089

1,632

2,515

86

96

88

12.07
11.99
11.92
11.87
11.86
11.85
11.84
11.85
11.88
11.86
11.89
11.92

16.17
16.27
16.32
16,40
16.47
16.52
16.57
16.62
16.71
16.67
16.78
16.87

13.09
13,06
13.02
13.00
13.01
13.01
13.02
13.04
13.08
13.06
13.11
13,15

34.9
34.9
35.0
35.0
35,0
35.1
35.1
35.2
35.0
34.9
34.9
34.9

29,2
29.2
29.1
29.1
29.0
28.9
28.8
28,6
28.3
28.2
28.0
27.9

33.5
33.5
33.5
33.5
33.5
33.6
33.5
33.6
33.3
33.2
33.2
33.2

3,014
3,018
3,029
3,058
3,075
3,119
3,141
3,116
3,101
3,186
3,179
3,208

1,645
1,645
1,645
1,648
1,668
1,676
1,692
1,671
1,629
1,692
1,706
1,729

2,447
2,456
2,482
2,521
2,561
2,609
2,641
2,600
2,566
2,702
2,675
2,710

86
87
87
87
87
87
87
87
87
87
87
87

97
98
99
99
100
100
100
100
. 100
100
100
99

89
90
90
90
90
90
90
90
90
90
90
90

1972
January
February
March
April
May
June
July
August
September
October
November
December
Note:

Rates are reported on an annual percentage rate basis as' specified in the Federal Reserve Board's Regulation Z
(Truth-in-Lending). Data on the amount financed exclude finance charges.