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Of GOV

FEDERAL

RESERVE

statistical

G.ll

release
For immediate r e l e a s e
November 6 , 1975

F i n a n c e 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 D e a l e r s by Major Auto F i n a n c e Companies

Customer r a t e
(per c e n t per annum)
New
Total
Used 1/

Period

Average m a t u r i t y
(months)
New
Us ed
Total

Average amount
financed
(dollars)
New
Used
Total

R a t i o of amount
f i n a n c e d t o wholes a l e s value
(per c e n t )
Total
New
Used

1974
September
October
November
December

12.84
12.97
13.06
13.10

17.61
17.78
17.88
17.89

14.03
14.16
14.26
14.29

35.9
36.0
36.2
36.4

28.6
28.5
28.3
28.1

34.1
34.1
34.2
34.3

3,625
3,793
3,906
3,976

2,005
2,055
2,102
2,112

3,043
3,167
3,213
3,257

87
87
87
86

99
97
97
96

90
89
89
88

13.08
13.07
13.07
13.07
13.09
13.12
13.09
13.10
13.18

17.27
17.39
17.52
17.58
17.65
17.67
17.69
17.70
17.73

14.12
14.14
14.17
14.19
14.22
14.25
14.23
14.24
14.31

36.9
37.3
37.3
37.6
37.7
37.9
37.8
37.8
37.7

29.8
29.7
29.6
29.6
29.6
29.6
29.5
29.4
29.2

35.1
35.3
35.4
35.6
35.6
35.8
35.7
35.7
35.6

3,931
3,863
3,975
4,074
4,125
4,125
4,074
4,082
4,134

2,212
2,215
2,180
2,203
2,230
2,259
2,264
2,261
2,256

3,209
3,247
3,198
3,233
3,331
3,393
3,421
3,406
3,433

87
87
87
86
86
87
87
87
86

95
96
97
97
98
97
96
96
95

89
89
89
89
89
89
89
89
88

1975
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 p e r c e n t a g e r a t e b a s i s as s p e c i f i e d in t h e 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 t h e amount f i n a n c e d 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 t o J a n u a r y r e f l e c t customary p r o c e d u r e s observed by f i n a n c e
companies in e s t a b l i s h i n g " a g i n g d a t e s " f o r used v e h i c l e s .