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FEDERAL
RESERVE
s t a t i s t i c a l release
For immediate r e l e a s e
J u l y 8 , 1971
AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES
DOWNPAYMENT REQUIREMENTS ON NEW CAR LOANS
TIGHTENED DURING M&Y AS THE PERCENTAGE ON
CONTRACTS WITH DEALER COST RATIOS OVER 100%
DECLINED TO LAST SUMMER'S LEVEL.
-

1968

1969

1970

28

1971

MATURITY DISTRIBUTION - NEW CAR CONTRACTS
Balloon
Over 36
31-36
25-30
24 m o n t h s
months
months
months
P
7,
%
%
%

I

Seasonally adjusted
May 1971
A p r i l 1971
March 1971
F e b r u a r y 1971

13.3
13.7
15.4
16.8

3.0
2.9
3.2
3.3

82.9
82.7
80.7
79.2

0.3
0.3
0.3
0.2

0.4
0.3
0.4
0.3

12.6
13.5
13.2

3.0
279
2.7

83.9
83.0
83.6

0.3
0.3
0.3

0.3
0.3
0.3

Total

100.0
100.0
100.0
100.0

.

Unadjusted
May 1971
A p r i l 1971
May 1970

.

MATURITY DISTRIBUTION - USED CAR CONTRACTS
Balloon
Over 30
25-30
19-24
18 m o n t h s
months
months
months
P
%
7o
%
%
•
%

100.0
100.0
100.0

Total

Seasonally adjusted
May 1971
A p r i l 1971
March 1971
F e b r u a r y 1971
Unadjusted
May 1971
A p r i l 1971
May 1970

j

6.1
5 .4
5 .5
6.1

|

15.6
14.3
14.5
14.1

25.6
32.0
30.4
29.9

53.1
47.7
49.0
49.0

14.6
13 .0
14.7

27 .0
32.5
31.9

52.6
49.6
47.9

-

0.1
0.1
0.1
0.1

100.0
100.0
100.0
100.0^

0.1
0.1
0.1

100.0
100.0
100.0,

|

i

j

j

5.7
5 .0
5 .5

N o t efor
:
D
e t a i l s may n o t add t o t o t a l s
Digitized
FRASER
s e a s o n a l f a c t o r s by s e c t o r .


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

AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES
MATURITIES ON USED CAR LOANS SHORTENED IN
MAY, AS 21.77=, OF THESE LOANS WERE WRITTEN
FOR 24 MONTHS OR LESS, COMPARED WITH A
20.2% JANUARY-TO-APRIL AVERAGE.

1968

1969

1970

1971

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 )
101-105
106-110
Over 110
90 o r
91-100
%

Total

°L

%

%

%

Seasonally adjusted
May 1971
A p r i l 1971
March 1971
F e b r u a r y 1971

48.4
47.7
47.0
46.0

31.4
31.0
31.6
32.4

12 .4
12.8
13.3
13.8

4.8
5.1
4.9
4.9

3.1
3.3
3.2
3.1

100.0
100.0
100.0
100.0

48.8
48.4
48.9

31.5 '
30.9
31.4

12.3
12.6
12.1

4.7
5.0
4.7

2.9
3.1
2.9

100.0
100.0
100.0

Unadjusted
May 1971
A p r i l 1971
May 1970

DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS

Seasonally adjusted
May 1971
A p r i l 1971
March 19 71
F e b r u a r y 1971

1

90 o r
less

91-100

101-110

111-120

Over 120

%

%

%

7=

%

37.7
33.7
33.9
33.6

27,8
28.2
28.7
28.5

Total

23 .0
24.5
24.5
24.0

1

9.0
10.2
9 .6
9.6

4.3
4.6
4.6
4.6

9 .5
10.7
11 .4

4.6
5.2
6.5

100.0
100.0
100.0
100.0

Unadjus ted
May 1971
A p r i l 1971
May 19 70

j
|
j

35,6
32.1
31.5

j
|

27.3
27.4
27.1

I
j

23.2
24.7
23.7

:
|

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 .




i
|

100.0
100.0
100.0

G.25

-3AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES
• DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
m Y 1971
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

90% o r l e s s
917= t o 100%
101% t o 1057=
1067= t o 1107=
Over 1107=
Total

24 m o n t h s

25-30
months

8.7
2.3
1/3
0.2
0.2

1.4
0.8
0.6
0.1

12.6

Maturities
31-36
months

Over 36
months

Balloon
*

0.1
0.1

*

38.5
28.1
10.3
4.4
2.7

*

*

3.0

83 . 9

0.3

0.3

0.2

Total
48.8
31.5
12.3
4.7
2.9
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 a s
p e r c e n t of
wholesale value
907= o r l e s s
917= t o 1007=
1017= t o 1107=
1117= t o 1207=
Over 1207=
Total

18 m o n t h s

19-24
months

j

4.3
0.7
0.4
0.2
0.1

8.4
3 .4
1.9
0.7
0.3

|

5.7

14.6

Maturities
25-30
months
•

10.6
7.7
5 .7
2.1
0.9

12.3
15.4
15.3
6.5
3.3

27 .0

52.6

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 .
* 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 .




Over 30
months

Balloon
*

0.1

*

0.1

Total
35.6
27.3
23.2
9.5
4 .6
100.0