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FEDERAL RESERV For immediate release January 6, 1972 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES THE PROPORTION OF NEW CAR LOANS GRANTED WITH MATURITIES OF 31-36 MONTHS ROSE SHARPLY IN NOVEMBER AFTER DECLINING THE TWO PREVIOUS MONTHS. 1968 1969 1970 1971 MATURITY DISTRIBUTION - NEW CAR CONTRACTS Bn1 loon Over 36 31-36 24 months 25-30 months months months 7 = 7 = 7. ^ % % Total Seasonally adjusted November 1971 October 1971 September 1971 August 1971 12.9 14.3 13.6 12.4 2.8 2.8 2.5 2.5 84.5 82.4 83.2 84.4 0.2 0.2 0.2 0.2 0.2 0.4 0.3 0.3 100.0 100.0 100.0 100.0 15.3 15.3 12.1 3.0 2.9 2.5 81.2 81.2 84.3 0.2 0.2 0.2 0.3 0.4 0.8 100.0 100.0 100.0 Unadjusted November 1971 October 1971 November 19 70 MATURITY DISTRIBUTION- - USED , CAR CONTRACTS Balloon Over 30 25-30 19-24 18 months months months months P 7 = 7 = November 1971 October 1971 September 1971 August 1971 % Total % % 5.0 5 .4 4.9 5.1 15.2 14.1 14.0 13.6 34.3 32.8 33.3 32.7 46.1 47.9 49.4 49.6 0.1 0.1 0.1 0.1 100.0 100.0 100.0 100.0 5.5 5 .6 6 .4 15.7 14.9 15.8 30.1 28.9 26.8 48.8 50.6 51.0 0.1 0.1 0.1 100.0 100.0 100.0 Seasonally adjusted Unadjusted November 1971 October 1971 November 1970 Note: Details may not add to seasonal factors by sector. totals because of rounding and construction of AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES IN CONTRAST T O NEW CAR LOANS, SHORTER MATURITIES (24 MONTHS OR L E S S ) ACCOUNTED FOR A N INCREASING PROPORTION OF USED CAR LOANS MADE DURING NOVEMBER. 1968 1969 1970 1971 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS (loan as per cent of dealer cost) 90 or 91-100 101-105 106-110 Over 110 Total % % % % % 3.2 2.9 3.1 3.3 100.0 100.0 100.0 100.0 3.2 3.0 3.9 100.0 100.0 100.0 Seasonally adjusted 48.3 49.4 49.3 47 .8 31 .8 31.1 30.5 31.8 12.1 12.5 12.1 12.0 4.8 4.5 5.1 5.1 48.8 49.8 46.4 November 1971 OcLober 1971 September 1971 August 1971 30.8 30.4 31.7 12.5 12.3 12.2 4.8 4.6 5.8 Unadjusted November 1971 October 1971 November 1970 Seasonally adjusted ; DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS (loan as per cent of wholesale value) 90 or 91-100 101-110 111-120 Over 120 Total 7 = 7, % % X November 1971 October 1971 September 1971 August 1971 32.5 32.3 32.7 31.8 27 .6 27 .8 27.7 28.0 22.5 23.5 24.4 24.4 10.1 10.2 10.3 10.5 5.1 5.1 5.2 5.6 35.2 34.7 34.5 29.0 28.7 27 .9 22.3 23.0 23.4 9.3 9.3 9.6 4.3 4.4 4.5 Unadjusted November 1971 October 1971 November 1970 100.0 100.0 100.0 100.0 j ' Njte: Details may not add to totals because of rounding and construction of seasonal factors by sector. i 1 | 100.0 100.0 100 .0 G .25 -3AUTOMDBILE LOANS BY MAJOR FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS NOVEMBER 1971 NEW CARS (Percentage distribution of contracts) Not seasonally adjusted Loan as per cent of dealer cost 24 months 907= or less 91% to 1007= 101% to 1057= 106% to 110% Over 110% 25-30 months Maturit ies 31-36 months Over 36 months 10.0 2.9 2.0 0.2 0.2 37 .3 26.8 9.7 4.5 3.0 0.1 0.1 15.3 Total 1.3 0.8 0.8 0.1 0.1 3.0 81.2 0.2 Balloon * 0.3 * 0.3 Total 48.8 30.8 12.5 4.8 3.2 100.0 USED CARS (Percentage distribution of contracts) Not seasonally adjusted Loan as per cent of wholesale value 18 months 907= or less 917= to 100% 101% to 110% 111% to 1207= Over 120% Total 19-24 months Maturities 25-30 months 4.3 0.7 0.3 0.1 0.1 8.4 4.0 2.2 0.8 0.4 9.7 9.2 7.0 2.9 1.3 5 .5 15.7 30.1 Note: Details may not add to totals because of rounding. * Less than one-tenth of one per cent. Over 30 months , Balloon * 12.9 15.1 12.8 5 .5 2.6 * 48.8 0.1 Total 35.2 29.0 22.3 9.3 4.3 100.0
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