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FEDERAL RESERVE statistical release For immediate release December 7, 1971 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES THE PROPORTION OF NEW AUTO LOANS AT MAJOR FINANCE COMPANIES WITH 31-36 MONTH MATURITIES DECLINED IN OCTOBER. 1968 Seasonally adjusted October 1971 September 1971 August 1971 July 1971 1969 1970 1971 MATURITY DISTRIBUTION - NEW CAR CONTRACTS 24 months 25-30 31-36 Over 36 Balloon paper months months months % 7o % % % 14.3 13.6 12.4 12.9 2.8 2.5 2.5 2.6 82.4 83.2 84.4 83.9 0.2 0.2 0.2 0.3' 15.3 12.0 12.5 2.9 2.2 2.4 81.2 85.5 84.4 0.2 0.2 0.2 , i, Total 0.4 0.3 0.3 0-3 100.0 100.0 100.0 100.0 0.4 0.2 0.5 100.0 100.0 100.0 Unadjusted October 1971 September 1971 October 1970 MATURITY DISTRIBUTION - USED CAR CONTRACTS Balloon Over 30 25-30 18 months 19-24 months months months P 7= % % % % Total Seasonally adjusted October 1971 September 1971 August 1971 July 1971 5.4 4.9 5.1 5 .0 ; 14.1 14.0 13.6 13.6 32.8 33.3 32.7 32.3 47.9 49.4 49.6 49.5 0.1 0.1 0.1 0.1 100.0 100.0 100.0 100.0 14.9 16.9 16.3 28.9 36.5 26.4 50.6 41.0 51.1 0.1 0.1 0.1 100.0 100.0 100.0 Unadjusted October 1971 September 1971 October 1970 5 .6 5.5 6.1 Note: Details may not add to seasonal factors by sector. totals because of rounding and construction of G.25 -2- AUTOMDBILE LOANS BY MAJOR FINANCE COMPANIES THE PROPORTION OF NEW CAR LOANS WITH LOW DOWNPAYMENTS (DEALER COST RATIO OVER 100%) EASED BELOW 207= FOR THE FIRST TIME IN SEVERAL YEARS. 1971 1970 1969 1968 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS (loan as per cent of dealer cost) Over 110 91-100 100-105 106-110 90 or Total % % % 49.4 49.3 47.8 47.9" 31.1 30.5 31.8 31.6 12.5 12.1 12.0 12.2 4.5 5.1 5.1 4.9 2.9 3.1 3.3 3.3 100.0 100.0 100.0 100.0 49.8 49.3 48.5 30.4 31.3 ' 31.1 12.3 11.4 11.4 4 .6 4.9 5.5 3.0 3.2 3.6 100.0 100.0 100.0 7. 7c Seasonally adjusted October 1971 September 1971 August 1971 July 1971 Unadjusted October 1971 September 1971 October 1970 ^ * DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS (loan as per cent of wholesale value) Over 120 111-120 101-110 90 or 91-100 Total 7= 7= 7. 7o % Seasonally adjusted October 1971 September 1971 August 1971 July 1971 32.3 32.7 31.8 32.1 27 .8 27.7 28.0 28.2 23.5 24.4 24.4 24.1 10.2 10.3 10.5 10.4 5.1 5.2 5 .6 5 .3 100.0 100.0 100.0 100.0 34.7 32.0 34.6 28.7 27.5 28.7 23,0 24.3 22.9 9.3 10.6 9.4 4.4 5 .6 4.5 100.0 100.0 100.0 Unadjusted October 1971 September 1971 October 1970 Note: Details may not add to totals because of rounding and construction of seasonal factors by sector. G. 25 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS OCTOBER 1971 NEW CARS (Percentage distribution of contracts) Not seasonally adjusted Loan as per cent of dealer cost 907= or less 91% to 1007= 1017= to 1057= 1067= to 1107= Over 1107= Total 24 months 25-30 months Maturities 31-36 months Over 36 months Balloon paper * 9.9 2.9 2.3 0.2 0.1 1.3 0.7 0.8 0.1 0.1 38 .4 26.4 9.3 4.3 2.8 0.1 0.1 15.3 2.9 81.2 0.2 * 0.3 * 0.4 Total 49.8 30.4 12.3 - 4.6 100 (o (Percentage distribution of contracts) Not seasonally adjusted " Loan as per cent of wholesale value 907= or less 917= to 1007= 1017= to 1107= 1117= to 1207= Over 1207= Total 18 months or less - 19-24 months Maturities 25-30 months Over 30 months 4.3 0.7 0.3 0.1 0.1 8.2 3.5 2.1 0.8 0.3 8.8 9.2 6.8 2.8 1.3 13.4 15.3 13.8 5 .6 2.6 5 .6 14.9 28.9 5,0.6 Note: Details may not add to totals because of rounding. * Less than one-tenth of one per cent. I Balloon * 0.1 * O.l Total 34.7 28.7 23.0 9.3 4.4 100.0
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