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voSS%.. FEDERAL RESERVE statistical G.ll release For immediate r e l e a s e November 12, 1974 Finance Rate and Other 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 Purchased from Dealers by Major Auto Finance Companies Customer r a t e (per cent per annum) New Used _l/ T o t a l Period Average m a t u r i t y (months) New Used Total Average amount financed (dollars) New Used Total R a t i o of amount f i n a n c e d to wholes a l e value (per c e n t ) New Used Total 1973 July August September October November December 12.02 12.13 12.28 12.34 12.40 12.42 16.75 16.86 16.98 17.11 17.21 17.31 13.20 13.30 13.45 13.52 13.59 13.63 35 .4 35.4 35.3 35.1 35.1 35.1 29.1 28.8 28.5 28.2 27.9 27.6 33.8 33.7 33.6 33.4 33.3 33.2 3,329 3,347 3,418 3,448 3,400 3,357 1,820 1,786 1,780 1,824 1,826 1,805 2,834 2,824 2,852 2,935 2,891 2,845 88 88 87 88 88 88 99 99 99 99 100 99 91 91 90 91 91 91 12.39 12.33 12.29 12.28 12.36 12.50 12.58 12.67 12.84 16.56 16.62 16.69 16.76 16.86 17.06 17.18 17.32 17.61 13.42 13.39 13.38 13.39 13.48 13.63 13.72 13.82 14.03 35.2 35.3 35.4 35.5 35.6 35.9 35.9 36.0 35.9 29.3 29.4 29.2 29.2 29.1 29.0 29.0 29.5 28.6 33.7 33.8 33.8 33.9 33.9 34.1 34.2 34.3 34.1 3,369 3,402 3,450 3,480 3,531 3,587 3,636 3,622 3,625 1,905 1,945 1,921 1,947 1,974 1,991 2,005 1,994 2,005 2,785 2,806 2,856 2,884 2,958 3,025 3,074 3,076 3,043 88 88 88 88 88 88 88 88 87 97 97 98 99 99 99 99 99 99 90 91 91 91 91 91 91 90 90 974 January February March April May June July August September Note: Rates a r e r e p o r t e d on an annual percentage r a t e b a s i s as s p e c i f i e d in the F e d e r a l Reserve B o a r d ' s R e g u l a t i o n Z ( T r u t h - i n - L e n d i n g ) . Data on the amount financed exclude f i n a n c e c h a r g e s . 1/ Decreases in f i n a n c e r a t e s f o r used c a r s from December to January r e f l e c t customary procedures observed by f i n a n c e companies in e s t a b l i s h i n g "aging d a t e s " f o r used v e h i c l e s .
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