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FEDERAL RESERVE For immediate r e l e a s e J u l y 16, 1974 AUTOMOBILE LOANS BY MMOR FINANCE COMPANIES THE PROPORTION OF N W CAR CONTRACTS WITH E MATURITIES OF 31-36 MONTHS HAS DECLINED THIS YEAR, LARGELY BECAUSE OF THE RAPID GROWTH IN OVER 36 MONTH FINANCING. 1971 Seasonally adjusted May 1974 A p r i l 1974 March 1974 F e b r u a r y 1974 1972 1974 1973 MATURITY DISTRIBUTION - N W CAR CONTRACTS E 26-30 24 months 31-36 Over 36 Balloon months months months P 7, 7o % % % Total 10.5 11.5 11.1 11.7 1.7 1.9 1.7 1.8 80.4 81.8 82.0 6.0 5.2 4.9 4.4 0.4 0.1 0.2 0.3 100.0 100.0 100.0 100.0 9.9 11.1 10.6 1.7 1.9 2.1 81.4 80.8 84.5 6.8 6.0 2.7 0.3 0.1 0.2 100.0 100.0 100.0 80.6 Unadjusted May 1974 A p r i l 1974 May 1973 Seasonally adjusted May 1974 A p r i l 1974 March 1974 February 1974 MATURITY DISTRIBUTION - USED CAR CONTRACTS Balloon 18 months 19-24 25-30 Over 30 months months months P 7= 7, 7o 7. % 4.2 4.4 4.7 4.7 13.4 13.4 13.5 13.0 30.0 29.7 30.2 29.6 51.8 51.5 50.2 50.3 4.0 4.0 4.6 11.7 11.5 12 .2 28.2 27.5 29.5 56.0 56.9 53.6 0.2 0.1 , 0.1 0.1 Total 100.0 100.0 100.0 100.0 Unadjusted May 1974 A p r i l 1974 May 1973 Note: 0.2 . 0.1 0.1 100.0 100.0 100.0 D e t a i l s may not add to t o t a l s 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 f a c t o s FRASER Digitized rforby s e c t o r . G.25 -2AUTOMDBILE LOANS BY MAJOR FINANCE COMPANIES ALTHOUGH THE PROPORTION OF USED CAR CONTRACTS WITH DEALER COST RATIOS OVER 100 PER CENT EDGED UP IN MA.Y, IT REMAINED BELOW MOST MONTHS OF 1972 AND 1973. 1972 1971 Seasonally adjusted May 1974 A p r i l 1974 March 1974 F e b r u a r y 1974 1974 1973 DISTRIBUTION OF DEALER COST RATIOS - N W CAR CONTRACTS E ( l o a n as per c e n t of d e a l e r c o s t ) 91-100 100-105 106-110 Over 110 90 or less Total % % % % % 44.6 44.3 44.8 44.8 f 33.0 32.9 32.3 31.9 12.8 13 .0 12.8 12.6 5.8 5 .7 6.0 6.2 3.9 4.0 4.4 4.5 100.0 100.0 100.0 100.0 33.0 32.8 32.0 12.7 13.0 13 .7 5.7 5.7 6.5 3 .7 3.9 4.5 100.0 100.0 100.0 Unadjusted May 1974 A p r i l 1974 May 1973 - Seasonally adjusted May 1974 A p r i l 1974 March 1974 F e b r u a r y 1974 44.9 44.7 43.3 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 90 or 91-100 101-110 111-120 Total less % % % % % 31.7 32.2 31.9 33 .0 28.3 28.5 27.9 27 .9 24.7 24.0 24.2 23 .3 10.5 10.5 10.5 10.3 4.9 5.0 5.7 5.5 100.0 100.0 100.0 100.0 30.7 31 .2 29.3 27.9 27 .8 27 .6 25.3 24.5 25.5 10.9 11.2 11.6 5 .2 5 .4 6 .0 100.0 100.0 100.0 Unadjusted May 1974 A p r i l 1974 May 1973 Note: D e t a i l s may not add to t o t a l s because of rounding and c o n s t r u c t i o n of s e a s o n a 1 f a c t o r s by s e c t o r . -3- G.25 AUTOMDBILE LOANS AT MAJOR FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS M Y 1974 A 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 90% or l e s s 91% t o 100% 101% to 105% 106% t o 110% Over 110% Total Maturities 31-36 months Over 36 months * 35.5 27.9 10.2 4.7 3.1 1.7 2.6 1.3 0.7 0.5 1.7 81.4 6.8 24 months 25-30 months 6.8 2.0 1.0 0.2 0.1 1.0 0.4 0.2 0.1 10.0 Balloon * 0.1 °*1 * 0,3 Total 44.9 33.0 12.7 5.7 3.7 100.0 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 90% or l e s s 91% to"l00% 101% to 110% 111% to 120% Over 120% Total 18 months 19-24 months 3.1 0.5 0.2 0.1 0.1 6.9 2.5 4.0 Maturities 25-30 months Balloon 12.7 16.4 16.0 7.2 3.7 0.1 0.1 0.5 0.3 8.0 8.5 7 .5 3.0 1.3 11.7 28.2 56.0 0.2 1\5 Note: D e t a i l s may not add t o t o t a l s because of r o u n d i n g . * Less than o n e - t e n t h of one per c e n t . Over 30 months * Total 30.7 27 .9 25 .3 10.9 5.2 100.0
