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F E D E R A L R statistical E S 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 % 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 January 1975 December 1974 November 1974 October 1974 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 . 46.5 46.7 42.5 j j ; Seasonally adjusted 1 : 4.4 4.5 4.8 5.2 11.1 11.4 11.9 12.4 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 ^ J j | 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 , 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 .1 29, .5 28. .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 .8 3. 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 67 .7 Balloon 6.0 8.4 3.1 1.2 0.8 2.0 ' « 19.5 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 90 or less 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 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 90 or less I - Jan. Feb. Mar. Apr. May July Aug. Sept. Oct. Nov. Dec. 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
