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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