Full text of G.20 Sales Finance Companies : November 3, 1965

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G. 20

November 3, 1965.
SALES/FINANCE COMPANIES

"

September 1965

1

S a l e s f i n a n c e companies i n c r e a s e d t h e i r h o l d i n g s of consumer c r e d i t
i n September by $81 m i l l i o n . Much of t h e r i s e was i n t h e o t h e r consumer goods
c a t e g o r y , but some of i t was i n p e r s o n a l l o a n s as w e l l . Auto c r e d i t , on t h e
other band, d e c l i n e d i n September more or l e s s i n l i n e w i t h t h e u s u a l s e a s o n a l
expectations.
Total o u t s t a n d i n g s amounted t o $15,802 m i l l i o n a t t h e end of
September, an i n c r e a s e of 1 p e r c e n t from t h e p r e v i o u s month.and 9 p e r c e n t from
a year e a r l i e r .
The amount of new. paper acquired by s a l e s f i n a n c e companies d e c r e a s e d
i n September, l a r g e l y because of a drop i n r e t a i l automotive e x t e n s i o n s .
The
o n l y c a t e g o r y t o show an i n c r e a s e was o t h e r consumer goods,where volume was up
$38 m i l l i o n . A c q u i s i t i o n s f o r t h e e n t i r e t h i r d quarter t o t a l e d $ 3 , 8 3 9 m i l l i o n ,
an i n c r e a s e of 8 p e r c e n t from t h e corresponding p e r i o d i n 1964.
B u s i n e s s c r e d i t o u t s t a n d i n g arid volume of p u r c h a s e s d e c r e a s e d f u r t h e r
i n September as a r e s u l t of a s e a s o n a l d e c l i n e i n t h e w h o l e s a l e automotive
category.
Outstanding C r e d i t Held by S a l e s Finance Companies
( I n m i l l i o n s of d o l l a r s )

Type of c r e d i t
Consumer i n s t a l m e n t c r e d i t
R e t a i l automotive ( p a s s e n g e r c a r s )
Other consumer goods
Home r e p a i r and m o d e r n i z a t i o n
Personal loans
Business c r e d i t 1/
R e t a i l automotive
(commercial v e h i c l e s )
Wholesale automotive
Wholesale other than automotive
Other b u s i n e s s c r e d i t

Sept 30,
1965

I n c r e a s e or d e c r e a s e during:
September September Year ending
Sept. 30. 1965
1964
1965

15.802

81

78

1^249

9,196
4,204
129
2,273

- 39
79
- 2
43

- 35
63
- 1
51

432
498
- 19
338

5,912

-496

28

118

914

4

8

48

1,600
498
2,900

-533
- 4
37

.

-

6
7
21

-

47
60
57

1 / E x c l u d e s some c r e d i t extended t o b u s i n e s s , such as t h a t extended by f a c t o r i n g
subsidiaries.




G.20

-2C r e d i t Extended by S a l e s F i n a n c e Companies
( I n m i l l i o n s of d o l l a r s )

September
1965 ^

Type of c r e d i t

Consumer i n s t a l m e n t c r e d i t

Year
ago

O t h e r consumer goods
Home r e p a i r and m o d e r n i z a t i o n
Personal loans

.

Hew ( p a s s e n g e r and c o m m e r c i a l )
Used ( p a s s e n g e r and commercial)
.. W h o l e s a l e o t h e r t h a n a u t o m o t i v e
Other b u s i n e s s c r e d i t 1 /

99

J,

-

77
22

• -

38
2
2

1.262
j
|

Wholesale automotive paper

-

393
5
246 '

B u s i n e s s c r e d i t 1/

'

86

382
. 202

"New ' 'Used •

R e t a i l a u t o m o t i v e (commercial v e h i c l e s )

- .65

584

1,228

R e t a i l automotive (passenger cars)

;\Tev;
Used

Change .
Month
ago

j

- 540

: 8
2

•

58
1
23

.

- 447
.2

82

3

64
' is

-

2
~'l

566

- 563

- 491

517
49

- 555 *
8

- 488
3

164
450

5
21

-

, 1
1

1/ E x c l u d e s some c r e d i t e x t e n d e d t o ' b u s i n e s s , such as t h a t e x t e n d e d byfactoring subsidiaries.




25
17

f

.

G.20

-3-

Nuiuber of Motor V e h i c l e s Financed by S a l e s Finance Companies
(In thousands)

Type of v e h i c l e

Change from.:
' Month
Year
ago
. ag?

September
1965

T o t a l f i n a n c e d at r e t a i l

323

Z-32

New passenger
Used passenger
New commercial
Used commercial

139
155
20
9

- 21
- 20
2
0

4
- 10.
1
1

247

i n ' ;

-178

205

-205

42

6

T o t a l f i n a n c e d at w h o l e s a l e
New ( p a s s e n g e r and commercial)
Used (passenger and commercial)

,-177
-

i

"

Credit S a l e s of New Passenger Cars as a Per Cent
of T o t a l Number Sold at R e t a i l 1 /
Credit Sales
1965 - September
1965 - August
1964 - September

• Per Cent
85
t80
67

r. - revised
1/ Based on new car i n s t a l m e n t c o n t r a c t s acquired by banks, s a l e s
f i n a n c e companies, other f i n a n c i a l i n s t i t u t i o n s , and automobile d e a l e r s .
Data f o r p r i o r months may be o b t a i n e d by w r i t i n g t o the D i v i s i o n of
Research and S t a t i s t i c s , Board of Governors of the Federal Reserve
System, Washington, D. C. 20551.




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