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.-'of coy, '. FEDERAL RESERVE s t a t i s t i c a l r e l e a s e For immediate r e l e a s e February 6; 1973. AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES USED CAR LOAN TERMS TIGHTENED SOMEWHAT FURTHER IN DECEMBER AS THE PROPORTION OF CONTRACTS WITH MATURITIES EXCEEDING 24 MONTHS DECLINED FOR THE THIRD CONSECUTIVE MONTH. 1969 1970 1971 1972 MATURITY DISTRIBUTION - N W CAR CONTRACTS E 24 months . 25-30 31-36 Over 36 Balloon months months months 7 = % % % % Seasonally adjusted 12.0 12.4 12.9 11.9 2.9 3 .0 2.7 2.3 83.9" 83.5 83 .4 84.0 1.3 1.3 1.2 1.3 0.3 0.3 0.2 0.3 13.9 14.3 15 .2 December 1972 November 1972 October 1972 September 1972 3.3 3.3 3.2 81.0 80.8 81.0 1.3 0.3 0.4 0.4 0.3 1 Total 100.0 100.0 100.0 100.0 Unadjusted December 1972 November 1972 December 1971 100.0 100.0 100.0 MATURITY DISTRIBUTION - USED CAR CONTRACTS Balloon 25-30 Over 30 18 months 19-24 months months months P 7 = 7, % % % Seasonally adjusted Total 5 .2 5.1 5 .0 4 .9 December 1972 November 1972 October 1972 September 1972 15 .9 15 .8 14 .7 12.7 ' 37 .9 38.5 39.9 31.2 41.5 41.6 41.9 53.3 0.2 0.1 100.0 100.0 100.0 100.0 5.8 5 .6 5 .9 17 .1 16.6 16 .5 34.6 34.1 31.1 42.4 43.6 46.4 0.1 0.2 0.1 100.0 100.0 100.0 * Unadjusted December 1972 November 1972 December 1971 j not add to t o t a l s Note: D e t a i l s may f a c t o r s by s e c t o r . because of rounding and c o n s t r u c t i o n of s e a s o n a l G.25 -2- AUT0M3BILE LOANS BY M&JOR FINANCE COMPANIES THE PROPORTION OF USED CAR LOANS WITH LOW DOWNPAYMENTS (DEALER COST RATIOS OVER 100%) DROPPED RATHER SHARPLY IN DECEMBER, BUT IS STILL MUCH HIGHER THAN A YEAR AGO. DISTRIBUTION OF DEALER COST RATIOS - N W CAR CONTRACTS E 90 or 91- 100 101-105 106-110 "l % % 7. Over 110 44.0 42.9 43.7 45.0 31 .3 31 .8 31 .7 31..5 14.0 14.4 14.1 13.6 6.3 6.5 6.2 6.0 4.6 4.9 4.2 4.0 100.0 100.0 100.0 100.0 43.2 43.1 48.1 31. 0 31. 1 30. 8 14.4 14 .6 12.5 6.6 6.5 5.1 4.9 4.9 3.6 100.0 100.0 100.0 Total % Seasonally adjusted December 1972 November 1972 October 1972 September 1972 Unadjusted December 1972 November 1972 December 1971 Seasonally adjusted December 1972 November 1972 October 1972 September 1972 DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS ( l o a n as per c e n t of w h o l e s a l e v a l u e ) Over 120 101-110 111-120 90 or 91-100 Total less 7 = 7. 7 o 7 o 7, 30.3 29.4 28.9 29.9 26.7 25.7 25.9 27.1 24.8 24.7 25.3 24.8 11.6 12.6, 12.5 11.8 6.6 7.4 7.6 6.4 100.0 100.0 100.0 100.0 31.7 31.2 36.3 26.7 27.0 28.1 24.1 24.2 21.6 11.1 11.5 9.4 6.5 6.1 4.7 100.0 100.0 100.0 Unadjusted December 1972 November 1972 December 1971 Note: D e t a i l s may n o t add to t o t a l s because of r o u n d i n g and c o n s t r u c t i o n of s e a s o n a l f a c o r s by s e c t o r Digitized tfor FRASER . AUTOMOBILE LOANS BY MUOR FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS DECEMBER 1972 N W CARS E ( P e r c e n t a g e d i s t r i b u t i o n of c o n t r a c t s ) Not s e a s o n a l l y a d j u s t e d Loan as per c e n t of dealer cost 24 months 25-30 months Maturities 31-36 months Over 36 months Balloon 8.6 2.9 2.0 0.3 0.2 Total 1.1 0.8 1.1 0.2 0.1 33.0 26.6 11.1 5.9 4.5 0.4 0.5 0.3 0.1 0.1 0.1 0.3 0.1 13.9 90% or l e s s 91% t o 1007. 101% t o 105% 106% t o 110% Over 110% 3.3 81.0 1.4 0.4 * Total 43.2 31.0 14.4 6.6 4.9 100.0 USED CARS ( P e r c e n t a g e d i s t r i b u t i o n of c o n t r a c t s ) Not s e a s o n a l l y a d j u s t e d Loan as per c e n t of wholesale value 18 months 90% or l e s s 91% t o 100% 101% t o 110% 111% t o 120% Over 120% Total 4.3 0.7 0.5 0.2 0.1 5.8 19-24 months 8:5 4.3 2.6 1.1 0.6 • 17.1 Maturities 25-30 months Balloon 8.8 9.9 9.5 4.2 2.2 10.1 11.8 11.5 5.5 3.5 0.1 34.6 42.4 0.1 Note: D e t a i l s may n o t add t o t o t a l s because of r o u n d i n g . * Less t h a n o n e - t e n t h of one per c e n t . Over 30 months * Total 31.7 26.7 24.1 11.1 6.5 100.0
