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FEDERAL

RESERVE

statistical

release
For immediate release
February 6, 1974

G .11

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
New

Used

Average amount
financed

Ratio of amount
financed to wholesale value

Total

New

Used

Total

New

Used

Total

33.5
33.6
33.3
33.2
33.2
33.2

3,141
3,116
3,101
3,186
3,179
3,208

1,692
1,671
1,629
1,692
1,706
1,729

2,641
2,600
2,566
2,702
2,675
2,710

87
87
87
87
87
87

100
100
100
100
100
99

90
90
90
90
90
90

1972
July
August
September
October
November
December

11.84
11.85

11.88
11.86
11.89
11.92

16.57
16.62
16.71
16.67
16.78
16.87

13.02
13.04
13.08
13.06
13.11
13.15

35.1
35.2
35.0
34.9
34.9
34.9

28.8
28.6
28.3
28.2
28.0
27.9

1973
90
98
87
2,668
1,789
90
99
87
2,666
1,794
11.86
90
99
87
2,678
1,787
11.85
91
99
88
2,704
1,792
11.88
91
99
88
2,738
1,815
11.91
91
99
88
2,797
1,837
11.94
91
99
88
2,834
1,820
12.02
91
99
88
2,824
1,786
12.13
90
99
87
2,852
1,780
12.28
91
99
88
2,935
1,824
12.34
100
91
88
1,826
2,891
12.40
91
99
88
1,805
2,845
12.42
the Federal Reserve Board's Regulation Z
Note: Rates are reported on an annual percentage rate basis as specified in
on the amount financed exclude finance charges.
(Truth-in-Lending). Data
January
February
March
April
May
June
July
August
September
October
November
December




11.89

16.08
16.20
16.32
16.44
16.52
16.61
16.75
16.86
16.98
17.11
17.21
17.31

12.93
12.94
12.96
13.02
13.06
13.10
13.20
13.30
13.45
13.52
13.59
13.63

34.9
35.0
35.1
35.2
35.3
35.4
35.4
35.4
35 .3
35.1
35.1
35.1

29.6
29.6
29.5
29.4
29.4
29.3
29.1
28.8
28.5
28.2
27.9
27.6

33.6
33.7
33.7
33.8
33.8
33.9
33.8
33.7
33.6
33.4
33.3
33.2

3,200
3,199
3,184
3,201
3,225
3,283
3,329
3,347
3,418
3,448
3,400
3,357