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FEDERAL RESERVE F o r immed a c e r e l e a s e J u l y 10, 1973 G.25 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES THE PROPORTION OF NEW CAR CONTRACTS WITH MATURITIES EXCEEDING 36 MONTHS, THOUGH STILL SMALL, HAS RISEN SHARPLY IN RECENT MONTHS. 1973 1972 1971 1970 MATURITY DISTRIBUTION - NEW CAR CONTRACTS Balloon Over 36 31-36 25-30 24 months months months months P 7= 7= % ! % % Total Seasonally adjusted May 1973 A p r i l 1973 March 1973 F e b r u a r y 1973 11.2 11.1 11.2 11.4 2.0 2.2 2 .4 2.4 10.6 10.9 11.3 2.1 2.2 2.4 ; 83.7 84.2 84.2 84.5 Unadjusted . | 2.4 2.0 1.8 1.9 0.3 0.2 0.3 0.3 100.0 100.0 100.0 100.0 2.7 2.3 0.7 0.2 0.2 0.2 100.0 100.0 100.0 ! May 1973 A p r i l 1973 May 1972 84.5 84.5 85.4 | MATURITY DISTRIBUTION - USED CAR CONTRACTS Balloon Over 30 25-30 19-24 18 months months months months 7 = ' 7 = % % Total Seasonally adjusted May 1973 A p r i l 1973 March 1973 F e b r u a r y 1973 Unadjusted 4.9 4.9 4.8 5.0 13.3, 13.8 13 .5 13.0 28.4 28.8 28.4 30.7 53.2 52.3 52.2 50,8 0.1 0.1 0.1 0.1 100.0 100.0 100.0 100.0 • May 1973 A p r i l 1973 May 19 72 Note: D e t a i l s may n o t add c t oFRASER r s by s e c t o r . Digitizedf afor 4 .6 4.4 4.5 12.2 53.6 29.5 0.1 29 .0 12.3 54.3 0.1 0.2 50.8 32.5 12.0 t o t o t a l s b e c a u s e of r o u n d i n g and c o n s t r u c t i o n of 100.0 100.0 JOO.O seasonal G .25 -2- AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES AFTER DECLINING DURING THE FIRST QUARTER, THE PROPORTION OF USED CAR CONTRACTS WITH LOW DOWNPAYMENTS (DEALER COST RATIOS OVER 1007=) HAS BEGUN TO RISE AGAIN. 55 45 35 1970 1971 1972 1973 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS ( l o a n a s p e r c e n t of d e a l e r c o s t ) Over 110 91-100 101-105 106-110 90 o r Total 7= 7= 7= 7o 7o Seasonally adjusted 42.8 42.9 43.6 44.2 32.1 31.9 31 .8 31.1 13.9 13.8 13.6 13.8 6.8 6 .6 6.3 6.4 4.8 4.8 4.7 4.6 100.0 100.0 100.0 100.0 43.3 43.5 45.9 32.0 31.7 31.4 13.7 13.8 13.0 6.5 6.5 5.8 4.5 4.5 4.0 100.0 100.0 100.0 May 1973 A p r i l 1973 March 1973 F e b r u a r y 1973 Unadjusted May 1973 A p r i l 1973 May 1972 DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS ( l o a n a s p e r c e n t of w h o l e s a l e v a l u e ) Over 120 111-120 101-110 91-100 90 o r less 7= 7o % % % Seasonally adjusted May 1973 A p r i l 1973 March 1973 F e b r u a r y 1973 29.9 31.2 31.5 30.9 28.0 27.7 28.3 26.8 25.4 24.8 24.5 24.9 11.1 10.9 10.9 11.9 5.7 5.3 5.3 5 .8 100.0 100.0 100.0 100.0 29.3 29.9 29.2 27.6 27 .0 27.2 25.5 25.4 25.3 11.6 11.7 11.9 6.0 5 .9 6.4 100.0 100.0 100.0 Unadjusted May 1973 A p r i l 1973 May 1972 Note: D e t a i l s may n o t add t o t o t a l s b e c a u s e 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 t o r s by s e c t o r . G.25 -3AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS MAY 1973 NEW 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 a s p e r c e n t of dealer cost 24 months 907= o r l e s s 91% t o 100% 101% t o 105% 106% t o 110% Over 110% Total 25-30 months Maturities 31-36 months Balloon months 7.2 1.9 1.2 0.2 0.2 1.0 0.5 0.4 0.2 0.1 34.5 28.5 11.6 5.9 4.1 0.7 1.1 0.5 0.3 0.3 10.6 2.1 84.5 2.7 * 0.1 * 0.2 Total 43.3 32.0 13.7 6.5 4.5 100.0 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 a s p e r c e n t of wholesale value Maturities 25-30 months Over 30 months 18 months 19-24 months 3.5 0.5 0.3 0.2 0.2 6 .4 2.8 1.7 0.9 0.4 7.6 9.1 7.8 3.4 1.7 11.9 15.1 15.7 7.2 3.8 4.6 12.2 29.5 53.6 90% o r l e s s 91% t o 100% 101% t o 110% 111% t o 120% Over 120% Total N o t e : D e t a i l s may n o t add t o t o t a l s b e c a u s e of r o u n d i n g . * L e s s t h a n o n e - t e n t h of one p e r c e n t . Balloon * 0.1 * 0.1 Total 29.3 27.6 25.5 11.6 6.0 100.0
@FedFRASER