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FEDERAL RESERVE For immediate release August 11, 1971 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES NEW CAR MATURITY TERMS CONTINUED TO EASE IN JUNE AS THE PERCENTAGE OF CONTRACTS WITH 31-36 MONTH MATURITIES INCREASED. 9Q I i 1968 Seasonally adjusted June 1971 May 1971 April 1971 March 1971 i 1969 1970 78 1971 MATURITY DISTRIBUTION - NEW CAR CONTRACTS Over 36 24 months 25-30 31-36 Balloon months months, months 7. % % % % Total 12.9 13.3 13.7 15.4 2.9 3.0 2.9 3.2 83.8 82.9 82.7 80.7 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.4 100.0 100.0 100.0 100.0 11.9 12.6 12.9 2.6 3.0 2.4 85.1 83.9 84.2 0.3 0.3 0.3 0.2 0.3 0.3 100.0 100.0 100.0 Unadjusted June 1971 May 1971 June 1970 Seasonally adjusted June 1971 May 1971 April 1971 March 1971 MATURITY DISTRIBUTION - USED CAR CONTRACTS 25-30 Over 30 Balloon 18 months 19-24 months months months or less % 7. 7. % % Total 5.1 6.1 5.4 5.5 13.7 15.6 14.3 14.5 32.2 25.6 32.0 30.4 49.0 53.1 47. 7. 49.0 0.1 0.1 0.1 0.1 100.0 100.0 100.0 100.0 4.8 5.7 5.4 13.4 14.6 15.2 35.0 27.0 33.4 46.7 52.6 45.9 0.1 0.1 0.1 100.0 100.0 100.0 Unadjusted June 1971 May 1971 June 1970 Note: Details may not add to totals seasonal factors by sector. because of rounding and construction of G. 25 -2- A U T O M O B I L E L O A N S BY M U O R F I N A N C E COMPANIES U S E D CAR M A T U R I T I E S A L S O B E C A M E M O R E L I B E R A L A S A SMALLER PERCENTAGE OF TOTAL C O N T R A C T S W E R E W R I T T E N FOR LESS THAN 24 MONTHS. 22 18 1969 1968 1970 1971 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS (loan as per cent of dealer cost) Over 110 91-100 101-105 106-110 90 or Total % Seasonally adjusted June 1971 May 1971 A p r i l 1971 March 1971 7= % % 7. 48.4 48.4 47.7 47.0 31.6 31.4 31.0 31.6 11.9 12.4 12.8 13.3 4.9 4.8 5.1 4.9 3.2 3.1 3.3 3.2 100.0 100.0 100.0 100.0 47.9 48.8 48.0 32.1 31.5 31.9 12.0 12.3 12.3 4.9 4.7 4.8 3.1 2.9 3.0 100.0 100.0 100.0 Unadjusted June 1971 May 1971 June 1970 D I S T R I B U T I O N OF DEALER COST RATIOS - USED CAR CONTRACTS (loan as per cent of w h o l e s a l e v a l u e ) Over 120 111-120 101-110 91-100 90 or Total less 7o % % % % Seasonally adjusted June 1971 May 1971 A p r i l 1971 March 1971 33.2 37.7 33.7 33.9 27.8 27.8 28.2 28.7 24.4 23.0 24.5 24.5 10.2 9.0 10.2 9.6 5.4 4.3 4.6 4.6 100.0 100.0 100.0 100.0 31.5 35.6 31.3 27.9 27.3 27.5 24.9 23.2 24.4 10.4 9.5 10.9 5.4 4.6 5.8 100.0 100.0 100.0 Unadjusted June 1971 May 1971 June 1970 Notei Details may not add to totals because of rounding and construction of seasonal factors by sector. G.25 -3AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS JUNE 1971 NEW CARS (Percentage distribution of contracts) Not seasonally adjusted Loan as per cent of dealer cost 25-30 months 8.4 2.0 1.2 0.2 0.2 1.2 0.7 0.5 0.1 0.1 38.1 29.2 10.3 4.6 2.8 0.1 0.1 0.1 11.9 2.6 85.1 0.3 90% or less 91% to 100% 101% to 105% 106% to 110% Over 110% Total Maturities 31-3^ months 24 months , Over 36 months Balloon paper * Total 0.2 * * 47.9 32.1 12.0 4.9 3.1 0.2 100.0 USED CARS (Percentage distribution of contracts) Not seasonally adjusted Loan as per cent of wholesale value 90% or less 91% to 100% 101% to 110% 111% to 120% Over 120% Total 18 months 19-24 months Maturities 25-30 months Over 30 months Balloon paper 3.6 0.6 0.3 0.1 0.1 7.3 3.3 1.8 0.7 0.4 9.8 10.7 9.2 3.7 1.7 10.8 13.3 13.5 5.9 3.2 * 4.8 13.4 35.0 46.7 0.1 Note: Details may not add to totals because of rounding. * Less than one-tenth of one per cent. Total 31.5 27.9 24.9 10.4 5.4 100.0
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