The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
# ... . v»of_cov> *. SMr* G l U F E D E R A L RESERVE # # statistical release For immediate release May 15, 1973 Or T Period # inance Rate and Other Terms on New and Used Car Instalment Credit Contracts Purchased from Dealers by Major Auto Finance Companies Customer rate (per cent per annum) New Used 1/ Total Average maturity (months) New Used Total 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 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 11.89 11.86 16.08 16.20 16.32 12,93 12.94 12.97 34.9 35.0 35.1 29.6 29.6 29.5 33.6 33.7 33.7 3,200 3,199 3,184 1,789 1,794 1,787 2,668 2,666 2,678 87 87 87 98 99 99 90 90 90 1973 January February March 11.86 1/ Decreases reported above in finance rates for used cars from September to October, and December to January, reflect customary procedures observed by finance companies in establishing "aging dates" for used vehicles. Owing to a recent change in these procedures, the magnitude of the September-October decline has been reduced, and that for December-January has been accentuated. 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.