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k F E D E R A L statistical R E S E R V E For immediate r e l e a s e November 6, 1973 G.ll .NJ.is' U L l i U A R Y RESER Period release Finance 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 Total Average maturity (months) Used Total New Average amount financed (dollars) Total Used New Ratio of amount financed to wholesale value (per cent) New Used Total 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 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 11.89 16.08 16.20 16.32 16.44 16.52 16.61 16.75 16.86 16.98 12.93 12.94 12.96 13.02 13.06 13.10 13.20 13.30 13.45 34.9 35.0 35.1 35.2 35.3 35.4 35.4 35.4 35.3 29.6 29.6 29.5 29.4 29.4 29.3 29.1 33.6 33.7 33.7 33.8 33.8 33.9 33.8 33.7 33.6 3.200 3,199 3,184 3.201 3,225 3,283 3,329 3,347. 3,418 1,789 1,794 1,787 1,792 1,815 1,837 1,820 1,786 1,780 2,668 2,666 2,678 2,704 2,738 2,797 2,834 2,824 2,852 87 87 87 88 88 88 88 88 87 98 99 99 99 99 99 99 99 99 90 90 90 91 91 91 91 91 90 1973 January February March April May June July August September 11.86 11.85 11.88 11.91 11.94 12.02 12.13 12.28 28.8 28.5 —Rates are reported on an annual percentage rate basis as specified in the Federal Reserve Board's Regulation Z (Trath-in-Lending). Data on the amount financed exclude finance charges .