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FEDERAL

RESERVE

statistical

LIBRARY

JUN

s

release

For Immediate release
June 1, 1973

1973

fStoRfimdc&fcheBxJijo ms on New and Used Car Instalment Credit Contracts
Eto6KHtf«dNifroin Dealers by Major Auto Finance Companies

Period

Customer rate
(per cent per annum)
New
Used
Total

Average maturity
(months)
Used
Total

New

Average amount
financed
(dollars)
New
Used
Total

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

1972
January
* February
March
April
May
June
July
August
; September
October
November
December

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 gk
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

16.08
16.20
16.32
16.44

12.93
12.94
12.96r
13.02

34.9
29 .6
35.0
29 .6
35.1 * 29.5
35.2
29.4

33.6
33.7
33.7
33.8

3,014 1,645
3,018 1,645
3,029 1,645
3, 058 1,648
3,
,075 • 1,668
,676
3,
,119 1,
,692
3,
,141 1,
,671
3,
,116 1,
,629
3,
,101 1,
,692
3,
,186 1,
,706
,179 1:
3:
,208 1 ,729
i.

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

2,668
2,666
2,678
2,704

87
87
87
88

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

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

98
99
99
99

90
90
90
91

{973
January
February
March
April

11.89
11.86
L1.85r
11.88

3 ,200
3 ,199
3 ,184
3 ,201

1 ,789
1 ,794
1 ,787
1 ,792

f Note: Rates are reported ron 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.


r, = Revised.