Full text of G.11 Finance Rate and Other Terms on New and Used Car Instalment Credit Contracts Purchased from Dealers by Major Auto Finance Companies : October 3, 1973

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statistical

release

For immediate release
October 3, 1973

G.ll

Finance Rate and Other Terms on New and Used Car Instalment Credit Contracts
Purchased from Dealers by Major Auto Finance Companies

Period

Customer rate
(per cent per annum)
New
Used
Total

Average maturity
(months)
New
Used
Total

Ratio of amount
financed to wholesale value
(per cent)
New
Used
Total

Average amount
financed
(dollars)
Used
New
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

11.89
11.86
11.85
11.88
11.91
11.94
12.02
12.13

16.08
16.20
16.32
16.44
16.52
16.61
16.75
16.86

12.93
12.94
12.96
13.02
13.06
13.10
13.20
13.30

34.9
35.0
35.1
35.2
35.3
35.4
35.4
35.4

29.6
29.6
29.5
29.4
29.4
29.3
29.1
28.8

33.6
33.7
33.7
33.8
33 .8
33.9
33.8
33.7

3,200
3,199
3,184
3,201
3,225
3,283
3,329
3,347

1,789
1,794
1,787
1,792
1,815
1,837
1,820
1,786

2,668
2,666
2,678
2,704
2,738
2,797
2,834
2,824

'

87
87
87
87
87
87

100
100
100
100
100
99

90
90
90
90
90
90

87
87
87
88
88
88
88
88

98
99
99
99
99
99
99
99

90
90
90
91
91
91
91
91

1973
January
February
March
April
May
June
July
August

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.