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F

E

D

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A

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statistical

E

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E

R

V

E

r e l e a s e
For immediate release
March 13, 1975

AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES
THE PROPORTION OF NEW CAR CONTRACTS WITH
OVER 36-MONTH MATURITIES EXCEEDED 20 PER CENT
IN JANUARY. THE PROPORTION WAS UNDER 10 PER
CENT SIX MONTHS EARLIER.

1972

Seasonally adjusted

1973

1974

1975

MATURITY DISTRIBUTIONS - NEW CAR CONTRACTS
Balloon
31-36
Over 36
25-30
24 months
months
months
months
%
%
%
1
%

January 1975
December 1974
November 1974
October 1974

Total

9.5
11.4
11.4
10.5

1.8
1.9
1.8
1.8

68.5
72.1
73.5
76.8

21.1
16.2
14.2
12.9

0.2
0.3
0.2
0.3

100.0
100f0
10010
100I0

10.5
13.9
13.3

2.0
2.5
2.1

67.7
69.1
80.8

19.5
14.1
3.5

0.3
0.4
0.4

100.0
100.0
100.0

Unadjusted
January 1975
December 1974
January 1974

Seasonally adjusted

MATURITY DISTRIBUTION - USED CAR CONTRACTS
25-30
Over 30
Balloon
18 months
19-24
months
months
months
P
%
%
%
%
%

January 1975
December 1974
November 1974
October 1974

4.5
4.7
4 .6
4.5

11.2
12.8
13.0
13.1

27.1
28.7
28.6
29.6

4.6
5.8
4.9

10.1
16.3
12.2

25 .3
32.3
27. 0

- Total

56.6
53.6
53.5
52.5

0.2
0.1
0.1
0.1

100.0
100.0
100.0
100.0 .

60.0
45.5
50.8

0.2
0.2
0.2

100.0
100.0
100.0

Unadjusted
January 1975
December 1974
January 1974

"

Note: Details may not add to totals because of rounding and construction of: seasonal
factors by sector.




A/3'7

G.25

-2AUT0M3BILE LOANS BY MAJOR FINANCE COMPANIES
THE PROPORTION OF USED CAR CONTRACTS WITH LOW
DOWNPAYMENTS (DEALER COST RATIOS OVER 100 PER
CENT) ROSE IN JANUARY AFTER SEVERAL MONTHS OF
DECLINE.

1973

1972

Unadjusted

47.0
47-2
47.1
45.8

1

j

34.9
34.5
33.5
33.2

j
j

34.4
34.0
31.5

.

Seasonally adjusted

1
:

11.1
11.4
11.9
12.4

4.4
4.5
4.8
5.2

2.8
2.9
3.1
3.4

100.0
100.0
100.0
100.0

4.5
4.7
7.0

3.0
3.1
5.0

100.0
100.0
100.0

i

^

January 1975
December 1974
January 1974

January 1975
December 1974
January 1974

1975

i
!
j
i
J

January 1975
December 1974
November 1974
October 1974

Unadjusted

• -

DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS
(loan as per cent of dealer cost)
106-110
Over 110
90 or
91-100 j 101-105
1
Total
7=
7=
7,
! %
|
%

Seasonally adjusted

January 1975
December 1974
November 1974
October 1974

,

J
j
|

46.5
46.7
42.5

j
j
;

90 or
less
%

I
j

11.6
11.7
14.1

'
1

DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS
(loan as per cent of wholesale value)
111-120 | Over 120
j 91-100 | 101-110
Total
7°
!
%
%
I
%

1

!

j
,

34 .A
34.7
33.7
32.9

i
1
|
;
|

36.4
37.0
35.3

j

1
1
1

1
1
1

!

29 .2
28 .8
28 .6
2 8 .6

24 .6
23 .6
24 .2
24 .3

29,.1
28..5
.2
. 27.

23 .0
22 .2
22.4

8.6
9.0
9.1
9 .6

j
1

!

4 .5

100.0
100.0
100.0
100.0

3..5
3..8
5 .2

100.0
100.0
100.0

4 .0
3 .8

4 .2

1
8.0
8.5
10.0

,

Note: Details may not add to totals because of rounding and construction of seasonal
-factors by sector.




G.25

-3AUTOMOBILE LOANS AT MAJOR FINANCE COMPANIES
DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
JANUARY 1975
NEW CARS
(Percentage distribution of contracts)
Not seasonally adjusted

Loan as
per cent of
dealer cost

24 months

25-30
months

7.1
2.4
1.0
0.1
0.1

1.0
0.5
0.4
0.1

10.5

90% or less
91% to 100%
101% to 105%
106% to 110%
Over 110%
Tota 1

Maturities
31-36
Over 36
months
months

*

32.5
22.7
7.4
3.1
2.1

6.0
8.4
3.1
1.2
0.8

2.0

67 .7

19.5

'«

Balloon

Total
46.5
34.4
11.6
4.5
3.0

*

0.3
0.1
*

0.3

100.0
1

USED CARS
(Percentage distribution of contracts)
Not seasonally adjusted Loan as
per cent of
wholesale value

Maturities
25-30
Over 30
months
months

18 months

19-24
months

3.6
1.0
0.2
0.1
0.1

6.3
2.1
1.2
0.4
0.2

8.9
7.9
5.9
1.8
1.0

17.6
18.6
15.6
5.7
2.5

4 .6

10.1

25.3

60.0

90% or less
91% to 100%
101% to 110%
111% to 120%
Over 120%
Total

Note: Details may not add to totals because of rounding.
* Less than one-tenth of one per cent.




Balloon
paper
-

*

0.1

*

0.2

Total
36.4
29.1
23.0
8.0
3.5 .
100.0

1.
Revised March 1975

Maturities - New Cars
(Seasonally Adjusted)
Percentage distribution of contracts
24 months
25-30
31-36
Over 36
or less
months
months
months

Balloon
paper

11 .7
11.8
11 .6
11.8
12.1
12 .0
12 .2
12.1
11.9
12.7
11.8
11.5

2.6
2.8
2.5
2.5
2.5
2.5
2.5
2.3
2.4
2.6
2.8
2.6

84.8
84.6
84.8
84.7
84.4
84.5
84.3
84.4
84.2
83.6
83 .8
84.3

Year 1972

11.9

2.6

1973 - Jan.
Feb .
Mar.
Apr.
May

11.8
11.4
11.4
11.2
11.5
11 .4
11.3
11.3
11.3
11.6
11.9
12.7

2.6
2.4
2.4
2.2
2.2
2.3
2.2
2.2
2.1
2.1
2.2
2.0

Year 1973

11.6

2.3

83.2

2.7

0.3

100.0

1974 - Jan.
Feb .
Mar.
Apr .
May

12.0
11.7
11.2
11.4
10.7
10.6
10.7
11.1
10.5
11.4
11.4

1.8
1.8
1.7
1.9
1.8
1.7
1.8
1.9
1.9
% 1.8
1.8
1.9

82.2
81.8
81.5
80.4
80.4
79.7
78.5
77.4
76.6
76.8
73.5
72.1

3.9
4.5
5.2
5.4
6.1
6.9
8.2
8.9
10.3
12.9
14.2
16.2

0.3
0.3
0.2
0.1
0.3
0.3
0.4
0.3
0.3
0.3
0.2
0.3

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

11.2

1.8

78.4

8.6

0.3

100.0

Feb .
Mar .
Apr .
May
July
Aug .
Sept.
Oct.
Nov .

July
Aug .
Sept.
Oct.
Nov.
Dec .

July
Aug .
Sept.
Oct.
Nov.
Dec .
Year 1974

11.1




0.5
0.5
0.7
0.6

0.7
0.7
0.9
1.2
1.3
1.4
1.6

0.2
0.3
0.2
0.4
0.2
0.3
0.2
0.3
0.2
0.2
0.3
0.3

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

84.4

0.9

0.3

100.0

83 .7
81 .8
81.5
80.4
80.4
7-9.7
78.5
77.4
76.6
76.8
73.5
72.1

1.7
1.9
2.0
2.1
2.4
2.6
2.9
3.2
3 .3
3.6
3.5
3.6

0.2
0.3
0.3
0.2
0.2
0.4
0.2
0.3
0.1
0.2
0.2
0.4

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

0.6

2.

Revised March 1975
Maturities - Used Cars
(Seasonally Adjusted)
"Percentage distribution of contracts
18 months
19-24
25-30
Over 30
or less
months
months
months
- Jan.
Feb .
Mar.
Apr.
May

Balloon
paper

Total

5.7
5.2
5 .3
5 .2
4.8
5.0
5 .2
5.0
5 .0
5.0
5.0
5 .0

15.5
13.7
13.5
13.5
13.2
13.4
13.4
13.3
13.2
13 .8
14.7
14.4

35.5
32.5
32.6
32.5
32.5
31.8
32.1
32.3
32 .1
31.8
29.6
29.8

44.1
48.6
48.2
48.6
49.3
49.8
49.5
49.8
50.4
51.4
51.5
51.7

0.1
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.2
0.1

100.0
100.0
100.0
100.0"
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

1972

5.1

13.8

32.1

49.4

0.1

100.0

- Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

4.9
4.9
4.8
4.9
4.9
4.9
4.8
4.9
4.8
4.9
4.8
5.4

13.7
13.8
14.1
14.3
14.0
14.0
13.6
13.8
13.4
12.8
12.6
12.9

36.1
33.4
30.7
31.3
31.4
31.4
31.8
31.9
32.1
29.5
29.7
29.6

45.7
47 .6
49.2
49.2
49.6
49.9
50.4
50.5
52.6
52.9
51.9
50.8

0.1
0.1
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.1

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

July
Aug.
Sept.
Oct.
Nov .

'

*

-

1973

4.9

- 13.8

31.2

50.0

0.1

100.0

- Jan.
Feb .
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

4.8
4.7
4.7
4.4
4.2
4.4
4.3
4.4
4.7
4.5
4.6
4.7

13.6
13.0
13.5
13.4
13.4
13.3
13.3
13.6
13.3
13.1
13.0
12.8

30.0
29.6
30.2
29.7
30.0
30.0
29.4
29.6
29.9
29.6
28.6
28.7

50.8
50.3
50.2
51.5
51.8
52.2
53.4
51.9
53.0
52.5
53.5
53.6

0.2
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1

100.0
100.0
100.0
100.0
100.0
100.0"
100.0
100.0
100.0
100.0
100.0
100.0

1974

4 .6

13.2

29.2

52.9

0.2

100.0




3.
Revised March 1975
Dealer Cost Ratios - New Cars
(Loan as per cent of dealer cost)
(Seasonally Adjusted)
Percentage distribution of contracts

I - Jan.
Feb.
Mar .
Apr. •
May
June
X July
Aug .
Sept.
Oct.
Nov.
Dec .
1972
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.

1973

Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1974

90 or
less

91-100

101-105

106-110

110

Total

48.4
47.6
46.4
46.1
45.6
45 .7
45.8
45.2
44.7
43.6
43.4
43.7

31.4
31.4
31.6
31.3
31.3
31.5
31.2
31.5
31.6
31.5
31.5
31.4

11.6
12.2
12.6
12.8
13.1
12.9
13.2
13.2
13.6
14.0
14.1
14.0

5.0
5.4
5.6
5.7
5.9
6.0
5 .9
6.0
6.1
6.4
6.5
6.4

3.5
3.6
3.8
4.0
4.2
4.1
4.0
4.0
4.2
4.4
4.8
4.5

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

45.5

31.4

13.1

5 .9

4.1

100.0

44.0
43.9
43.5
43.2
43.1
42.9
43.1
43.4
45.4
43.9
43.1
41.5

31.1
31.4
31.7
31.8
31.9
31.7
31.8
31.9
31.7 „
32.2
32.1
32.0

13.9
13.9
13.8
13.8
13.8
14.1
13.9
13.9
12.9
13.3
13.7
14.7

6.5
6.5
6 .4
6.5
6 .6
6 .6
6 .6
6.3
6.0
6.2
6.5
6.8

4.4
4.6
4.6
4.6
4.7
4.7
4.7
4.7
4.2
4.4
4.8
4.9

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

43.4

31.8

13.8

4.6

100.0

43.0
44.8
44.6
44.5
44.7
45.2
45.1
45.4
44.6
45.8
47.1
47.2

31.9
32.1
32.2
32.9
32.8
32.7
32.9
32.4
33.0
33.2
33.5
34.5

13.5
12.6
12.9
13.0
12.8
12.8
12,7
12.8
13.4
12.4
11.9
11.4

6.9
6.2 .
5.9
5 .7
5.8
5 .6
5.6
5.5
5 .5
5.2
4.8
4.5

4.6
4.5
4.4
4.0
3.9
3.8
3.7
3.6
3.5
3.4
3.1
2.9

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

45.2

32.9

12.7

5.6

3.8

100.0




6.5

Revised March 1975
Dealer Cost Ratios - Used Cars
(Loan as per cent of wholesale value)
(Seasonally Adjusted)
Percentage distribution of contracts

I - Jan.
Feb.
Mar.
Apr.
May
July
Aug.
Sept.
Oct.
Nov.
Dec.

90 or
less

91-100

35.5
32.7
31.9
31.1
29.9
30.8
31.1
30.4
30.2
29 .9
29.9
29.8

27.9
27.8
27.8
26.9
27.4
27.4
26.9
27.0
27.0
26.4
26.4
26.9

101-110
22.5
23.6
24.1
24.4
24.8
24 . 2
24.8
24.8
24.5
25.0
24.9
25.5

111-120
9.7
10.6
11.1
11.5
11.5
10.8
11.0
11.4
11.7
11.9
12.1
11.7

.

Over
120

Total

4.8
5.3
5.3
6.1
6.2
6.7
6.1
6.3
6.3
6.9
6 .6
6.6

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

1972

31.1

27.1

24.4

11.3

6.1

100.0

- Jan.
Feb.
Mar.
Apr.
May
June
July
Aug .
Sept.
Oct.
Nov.
Dec .

30.0
30.4
30.9
30.7
30.1
30.5
30.1
31.4
31.0
30.0
29.9
30.3

26.8
26.7
28.0
27.9
27.1
27.3
27.6
27.9
27.9
26.7
25.7
26.7

,26.2
25.1
24.5
25.0
24.9
24.8
24.7
24.4
24.8
25 .1
25.2
24.5

12.3
11.9
11.2
11.1
11.3
11.5
11.5
10.6
11.3
11.9
12.3
12.1

6.1
6.0
5 .4
5.6
5.8
5.6
5.8
5.6
5.7
6.3
7.1
6.9

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

1973

30.5

27.2

24.9

11.6

6.0

100.0

33.4
32.8
31.7
32.0
31.6
31.6
31.7
31.4
31.8
32.9
33.7
34.7

27.2
27.8
27.7
28.0
28. Q
27.6
27.4
27.4
28.1
28.6
28.6
28.8

23.9
23.4
24.2
24.1
24 .6
25.0
25.0
25 .2
25.3
24.3
24.2
23.6

10:7
10.3
10.7
10.6
10.6
10.8
10.7
10.7
10.0
9.6
9.1
9.0

5.8
5.6
5.7
5.1
5.0
5.0
5.2
5.2
4.8
4.5
4.2
3.8

100.0
100.0
r- 100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

32.4

28.0

24.4

10.2

5.0

Feb.
Mar.
Apr.
May
July
Aug.
Sept.
Oct.
Nov.
Dec .
1974




100.0