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FEDERAL 6.11 • RESERVE statistical Rts. • release For immediate r e l e a s e May 1 3 , 1975 F i n a n c e R a t e and O t h e r 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 P u r c h a s e d f r o m D e a l e r s by M a j o r A u t o F i n a n c e Companies Customer r a t e ( p e r c e n t p e r annum) New Used 1/ T o t a l Period Average m a t u r i t y (months) Total Used New A v e r a g e amount financed (dollars) Used Total New R a t i o of amount f i n a n c e d t o wholesale value (per cent) 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 2,180 3,209 3,247 3,198 87 87 87 95 96 97 89 89 89 1975 3,931 36.9 29.8 35.1 14.12 13.08 17.27 January 29.7 35 .3 37.3 3,863 14.14 17.39 13.07 February 13.07 17.52 14.17 37.3 29.6 3,975 35.4 March April N o t e : R a t e s a r e r e p o r t e d on a n a n n u a l p e r c e n t a g e r a t e b a s i s a s s p e c i f i e d i n ( T r u t h - i n - L e n d i n g ) . D a t a on t h e amount f i n a n c e d e x c l u d e f i n a n c e c h a r g e s . 1/ D e c r e a s e s i n f i n a n c e r a t e s f o r u s e d c a r s f r o m December t o J a n u a r y 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 dates11 f o r used v e h i c l e s . the F e d e r a l Reserve Board's Regulation Z c u s t o m a r y p r o c e d u r e s o b s e r v e d by f i n a n c e
