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# F E D E R A L R E S E R V E statistical 9 release For immediate release September 5, 1975 G. 11 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 1/ Total Period Average maturity (months) New Used Total Average amount financed (dollars) Used Total New Ratio of amount financed to wholesale value (per cent) Total Used New 1974 May June July August September October November December 12.36 12.50 12.58 12.67 12.84 12.97 13.06 13.10 16.86 17.06 17.18 17.32 17.61 17.78 17.88 17.89 13.48 13.63 13.72 13.82 14.03 14.16 14.26 14.29 35.6 35.9 35.9 36.0 35.9 36.0 36.2 36.4 29.1 29.0 29.0 29.5 28.6 28.5 28.3 28.1 33.9 34.1 34.2 34.3 34.1 34.1 34.2 34.3 3,531 3,587 3,636 3,622 3,625 3,793 3,906 3,976 1,974 1,991 2,005 1,994 2,005 2,055 2,102 2,112 2,958 3,025 3,074 3,076 3,043 3,167 3,213 3,257 88 88 88 88 87 87 87 86 99 99 99 99 99 97 97 96 91 91 91 90 90 89 89 88 13.08 13.07 13.07 13.07 13.09 13.12 13.09 17.27 17.39 17.52 17.58 17.65 17.67 17.69 14.12 14.14 14.17 14.19 14.22 14.25 14.23 36.9 37.3 37.3 37.6 37.7 37.9 37.8 29.8 29.7 29.6 29.6 29.6 29.6 29.5 35.1 35.3 35.4 35.6 35.6 35.8 35.7 3,931 3,863 3,975 4,074 4,125 4,125 4,074 2,212 2,215 2,180 2,203 2,230 2,259 2,264 3,209 3,247 3,198 3,233 3,331 3,393 3,421 87 87 87 86 86 87 87 95 96 97 97 98 97 96 89 89 89 89 89 89 89 Q7C 7 /D January February March April May June July 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. \/ Decreases in finance rates for used cars from December to January reflect customary procedures observed by finance companies in establishing "aging dates" for used vehicles.
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