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d / V U L j U ^ A . a-I
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-

DER AL

/-/

RESERVE

s t a t i s t i c a l

r e l e a s e
For immediate release
March 16, 1971

. '

AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES
THE PROPORTION 0? NEW CAR CONTRACTS WITH 31-36 MONTH
MATURITIES DECLINED SHARPLY IN JANUARY. STRIKE RELATED
FACTORS HAVE DISTORTED NORMAL SEASONAL PATTERNS SINCE OCTOBER.

1968

1969
1970
i
1971
MATURITY DISTRIBUTION - NEW CAR CONTRACTS
|24 months
25-30
31-36
| Over 36 j Balloon
"months
months
months
1 paper
j
7,
%
;
!
%
%
i
%

Seasonally adjusted
January 1971
December 1970
November 1970
October 1970

•

is

.1
.5
.2
.7

I

2.3

16 .3
.6
.0

|

2

j

Unadjusted
January 1971
December 1970
January 1970

I % 1

81
86

87
85

1

i

'3

i

2.9

:

%

80 .i
82 •7
80 .7

0.2
0.2
0.2
0.2

1
•

i

!
1

.8

0.2
°' 3
0.2

j

January 1971
December 1970
November 1970
October 1970
Unadjusted
January 1971
December 1970
January 19 70

1

!
!

5.
5.

: 5.
1

5 .

!

3 ;
7
1 i: i
5. 8

14.9
15.6
15.3
15 .4

13.6
16.3
15.9

j
!
i
!

0.5

!

o

|
;

.6

!
!
i
'

1
1
1

0

J

1

!
.4
29.
30..4
30..5
29..9

100.0
100.0
100.0
100.0

0.4
0.7
0.6

!

!

i
!

j
i
j
:

:

MATURITY DISTRIBUTION - USED CAR CONTRACTS
19-24 | 25-30
I Over 30 | Balloon
J18 months |
months
! paper
months [ months
%
1
, %
%
!
%
%
!
Seasonally adjusted

i
48.5
48.2

0.
0.: l
0..1
0. i

!

i

48.1
48.4

I

j
i
1

1
|
'
;

100.0
100.0
100.0

Total

100.0
100.0
100.0
100.0

.

1
27. 2
27. 5
27. 9

53.4

1

49.8

%

0. i
0. 2
0. 3

!

l

49.3
1
j
I
Note: Details may not add to totals because of rounding and construction of
seasonal factors by sector.




Total

!

100.0
100.0
100.0

AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES
TERMS EASED SOMEWHAT ON USED CAR LOANS AS THE
PROPORTION OF CONTRACTS'WITH SHORT MATURITIES
(24 MONTHS 01 LESS) FELL DURING JANUARY.

1968

-Seasonally adjusted

1969

1970

32.0

12.8

32.0

12.1
11.8
11.6

j

5.8

i

3.5
4.0
3.9

j

5 .4

j

3.4

13.1
12-6

]
;

46.4
46.5
45.9
48.1

j
j

31.9

46.3

|

31.8

46.0

January 1971
December 1970
November 1970
October 1970

I
j

32.7

Unadjusted
January 1971
December 1970
January 1970

1971

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

1

j

44.5

31.7
31.9

i
I

5.2
5 .7

I

° -

7

I

i

!

!
|

loo.o

ioo.o
• 100.0
100.0

!

5.3
5.7
5.7

j

j

103.0
100.0

I

3.6
4.1

42

100.0

! - !

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

%
Seasonally adjusted
January 1971
December 1970
November 1970
October 1970
Unadjusted
January 1971
December 1970
January 1970
Note:

j

%

%

;

,
j
.

%

j

1
33.6

i

x

33.3

|

23.3

j

9.6

!

j

23.0

,

23.7
23.4

:
|

io.I
10.5
10.3

;
I
|

22.7
22.6
24.2

i

9.3
9.5
12.2

j

3i.6

;

26.6

'

32.2

|

27.7

,

35.1
35.1

|
j

28.4

4.4
4.7
5-3
5.2

;
|

)

28.6
28.0

|

:

.

100.0
100.0
100.0
103.0

,
•
,
j

29.5

I

28.6
26.2

'

j

j

,

!
1

4 3

'

4.5
7.9

|
|

Details may not add to totals because of rounding and construction of

seasonal factors by sector.




100.0
100.0
100.0

G.25

-3-.
A U T O M O B I L E LOANS BY MAJOR F I N A N C E C O M P A N I E S
D E A L E R C O S T R A T I O S A N D MATURITIES
ON A U T O M O B I L E INSTALMENT LOANS
JANUARY 1971
NEW CARS
(Percentage d i s t r i b u t i o n of c o n t r a c t s )
Not seasonally adjusted

Loan as
per cent of
dealer cost

;
j 24 m o n t h s

Maturities
, 31-36
months

25-30
months

j

90% Ol less
to 1 0 3 %
1 0 1 % to 105%
106% to 110%
Over 110%
91%

Total

!

3.6

|
j

1.4

9.9

|

2.4
0.3
0.2

|
i

16.3

j
j

34.8
27.0

!
|

0.1
0.1

|

10.1

|

4.9

1
I

*
*

|

0.8

1

0.1
2.9

1

I

1 Balloon
i Paper

3.3

0.6
0.1 •

|

Over 36
months

Total

!

1

I

0.5

j

' *

80.1

46.3
31.8

0.1

1

0.2

0.6

13.1
5.3
3.6
100.0

1

USED CARS
(Percentage d i s t r i b u t i o n of c o n t r a c t s )
Not seasonally adjusted

L o a n as
per cent ^ f
of
w h o l e s a l e valua
90% or less
to 1 0 3 %
1 0 1 % to 1 1 0 %
1 1 1 % to 1 2 0 %
Over 120%
91%

To:al

I
i i o months
*-u«
j 18
i

i

1 19-24
in i /
.
|
| months

4.4

I

a .

0.9
0.4

3-1
1-5

0.1

i
!
j
;

5.8

;

;

o.i

0.6

0.3
13.6

Maturities
' 25-30
o c on
j

Over 30
months

I months
I
' a ,
!,.
8.7
6.5
2.3
:
0.9
;

27.2

•
;
:
j
,|

j

Total

*
0.1

35.1

0.1

100.0

14.3

6.3
3.0

, 53.4

Note:
D e t a i l s may not add to totals because of r o u n d i n g .
» Less than one-tenth of ons per cent.




14.0
15.'9

Balloon

28.6
22.7
9.3
4.3

Revised March 1971
Maturities - New Cars
(Seasonally Adjusted)
Percentage distribution of contracts
24 months
25-30
31-36
Over 36
or less
months
months
months
1958 - Jan.
Feb .
Mar .
Apr .
May
June
July
Aug .
Sept .
Oct .
No /.
Dec .

14.0
13.0
13.5
13.6
13.5
13.3
13 .0
12.9
11.7
14.1
14.1
13.4

2.6
2.6

82.3

2.6
2.5
2.6
2.5
2.6
2.5
2.2
2.5
2.5
2.6

82.8
82.6
82.8

83.2

82.9
83.1
83.3

84.3
82.1
82.4
83.2

0.4
0.4
0.4
0.4
0.4
0.5
0.4
0.5
0.4
0.4
0.5
0.3

Balloon
paper
0.7
0.7

0.6
0.7
0.6
0.7
0.8
0.7
0.9
0.9
0.7
0.7

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

1969

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

• Jan.
Feb .
Mar .
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec .
Year 1970

13.3

2.6

83.1

0.5

0.7

100.0

13.6
13.7
14.0
13.8
13.4
13.6
13.5
12.8
13.6
15.8
14.0
14.1

2.5
2.4
2.4
2.5
2.4
2.7

83.0

0.4
0.4
0.4
0.4

0.7
0.7

100.0

83.1

0.4

82.6

0.6

2.3

83.1

0.4
0.4

2.4
2.4
2.6
2.eT
2.7

80.6

13.8

Year-1968

13.9
14.3
14.2
13.8
14.0
14 .0
13 .7
13.2
12.9
11.7
10.2
11.5
13 .0

2.6

82.6
82.4
82.5

0.8
0.7

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

82.4

0.4

82.3

0.4

0.9
0.5
0.6
0.4
0.5
0.5
0.7

2.5

82.8

0.4

0.7

100.0

2.8
2.6
2 .6
2.5
2.7

82.4
82.1
82.6

0.3
0.3
0.3

0.6

100.0
100.0
100.0

83.0

0.3

82.6

2.6

82.8

0.3
0.3

2.7
2.6
2.6
2.3
2.3
2 .3

83.7
85 .6




83.7

0.4

82.9

0.4
0.4

82.9

0.3

83.4

86.1

0.3
0.3
0.2
0.2
0.2

0.5
0.3
0.3
0.4
0.4
0.5
0.6
0.3
0.5
0.6
0.7

83.9

0.3

0.5

87.7

100.0

100.0
100.0
100.0
100.0

100.0
100.0
100.0

100.0
100.0

. '7 ci

Revised March 1971
Maturities - Used Cars
(Seasonally Adjusted)
Percentage distribution of contracts
18 months
19-24
25-30
Over 30
or less
months
months
. months

-

Balloon
paper

'

Total

6.8
6.6
6.5
6.8
5.6
6.8
6.8
6.5
6.3
6.4
5.3
6.2

16 ,5
17.1
17.1
17.5
17.6
17.6
17.5
17.4
17.2
17.4
17.4
17.8

30.3

45.5

Year 1958

6.6

17.4

33.1

42.8

0.4

100.0

1959 - Jan.
Feb .
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct .
Nov.
Dec.

6.0
6.2
6.3
6.0
6.1
6.0
6.1
6.1
6.1
6.0
6.3
6.2

15.7
16.5
16.3
15.9
16.3
16.4
16.5
16.7
16.8
16.6
16.9
16.8

30.3

46.5

30.5
30.6
31.2
30.6
30.4
30.4
30.1
30.6
30.4
30.530.5

45.9
46.2
46.3
47.0
47.3
47.4
47.5
46.6
45.8
46.4

0.3
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.2
0.3
0.2

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

7.1

16.8

30.2

46.0

0.3

100.0

6.7
6.1
6.0
5.6
5.8
5.7
5.6
5.6
5.8
5.9
5.9
5.8

17.5
16.8
15.1
15.1
15.7
15.5
15.6
15.8
15.7
15.4
15.3
15.6

30.2

44.8'

30.0

46.7

29.4

48.8

0.3
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

30.5

48.1

30.4

'48.2

0.1
0.1
0.1
0.1

100.0
100.0
100.0
100.0

5.9

15.7

30.7

47.8

0.2

100.0

Feb .
Mar .
Apr.
May
June
July
Aug.
Sept
Oct.
No J.
Dec .

Year

1959

1970 - Jan.
Feb.
Mar.
Apr .
May
July
Aug.
Sept.
Oct.
Nov.




33.7

42.0

33.2

42.5'

33.5

42.2

33.1

42.0

33.6

41.9
41.7

33.5
33.2

42.1

33.4

42.4

33.2
31.5

43.1
44.2

30.9

44.6

30.2

47.8

48.5

30.3

48.4

30.8

48.1

30.8
31.1

48.6
45.5

31.4

48.4

29.9

48.4

0.3
0.4
0.3
0.3
0.3
0.2
0.4
0.4
0.5
0.4
0.4
0.3

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

100.0

3 .
Revised March 1971

I Dealer Cost Ratios - New Cars
(Loan as per cent of dealer cost)
(Seasonally Adjusted)
Percentage distribution of contracts
93 or
less
1968 - Jan.
Feb.
Mar.
Apr.
May

June
July
Aug.
Sept.
Oct.
Nov.
Dec.

44.0
44.6
44.5
44.4

91-100

101-105

31.3
31.7
31.7
31.8

13.6
12.9
13.0
13.2

44.9

31.5

13.3

44.7
45.1
45.1
44.2
44.1
43.8

106-110

Over
110

Total

4.5
4.5
4.4
4.4

103.0
100.0
100.0
100.0

4.1

103.0

13.0
13.1
13.1
13.2
13.5
14.2
13.4

6.3
6.3
6.1
6.2
6.2
bi1
6.1
6.0
6.1
6.2
6.0
6.2

4.3
4.1
4.3
4.3
4.4
4.2
4.2

100.0
100.0
100.0
100.0
100.0
100.0
100.0

44.3

31.9
31.6
31.5
32.2
32.1
31.9
31.9

Year 1968

44.6

31.9

13.3

6.2

4.3

103.0

1969 - Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

44.0
44.1
43.7
43.7

31.9
31.7
32.1
31.9
32.0
31.6
31.8
31.8
30.8

13.2
13.6
13.7
13.8
13.8
14.0
13.6
13.5
13.0
14.3
13.2
13.3

6.1
6.2
6.2
6.2
6.4
6.4
6.3
6.3
6.0
5.5
5.6
5.4

4.3
4.4
4.3
4.5
4.9
4.8
4.7
4.6
4.5
4.0
4.0
3.9

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
103.0
100.0

Year 1969

Feb.
Mar .
Apr .
May

43.2

43.4
43.8
43.9
45.8
44.0
45.4
45.6

32.6

31.8
31.8

44.2

31.9

13.6

6.1

4.4

100.0

44.6
46.1

32.0
32.3

13.4
13.0

5.6
5.2

4.0
3.6

100.0
100.0

47.0

31.3

12.9

5.2

3.5

100.0

48.1

31.4

12.5

4.8

3.2

100.0

103.0
100.0

48.5
48.5

31.3
31.4

12.2
12.2

4.8
4.8

3.1
3.1

July

48.1

31.5

12.2

5.0

3.2

100.0

Aug.
Sept.
Oct .
Nov.

48.5
48.1
48.1
45.9
46.5

31.5
31.3
31.9
32.7
32.0

11.9
11.9
11.6
11.8
12.1

5.0
5.2
5.4
5.8
5.7

3.1
3.3
3.4
3.9
4.0

100.0
103.0
100.0
103.0
100.0

12.3

5.2

3.4

100.0


31.8
47.6


4.
Revised March 1971
Dealer Cost Ratios - Used Cars
(Loan as per cent of wholesale value)
(Seasonally Adjusted)
Percentage distribution of contracts
90 or
91- 100
1968 - Jan.
Feb .
Mar .
Apr .
May
June
July
Aug .
Sept.
Oct .
Nov .
Dec .

28.9
28.8

27.8
26.1
26.7
26.9
26.2

26.1
24.3

25 .1
24.8
24.1

25 .2
25 .7
25 .3
24 .2
23 .8
24 .2
24 .3
23 .6
23.4
23 .3
23 .5
22 .9

101-110
25.8

25.3
25.5
25.4

25 .6
25.3
25.2
25 .4
25.3
25.2

25.6
25 .2

111-120
12.5
12.5
13 .4
14.3
14.3
13.7
13.9
14.0
14.9
15.0
14.7
15 .4

Total

Over
120
•

7.5
7 .7
8 .3
9 .9
10 .3
10.0
10 .3
10 .6
11 .7
11 .9
11 .3
12 .7

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
103.0

Year 1968

26.3

24 .2

25.5

14.1

10 .2

100.0

1969 - Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec .

22.9

25.5
24.9
25.2
25.9
25.6
25.8
26.0
25.7
25.1
25.4
25.4

16.1

26.2
26.4
26.7
27.1
27 .4
27.1
27.9

22 .4
22 .6
23 .9
24 .7
25 .4
24 .7
24 .6
24 .8
25 .2
25 .1
25 .7
25 .3

25.5

13.5
13.4
13.1
12.6
12.7

13 .7
13 .4
11 .1
, 9 .2
8 .9
9 .7
9.4
9 .3
9 .0
8 .6
8 .1
8 .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

-26.3

24,
.6

25.6

13.9

9 .9

100.0

28.2

26.,2
25 .
,9
26. 3
27 .1
27 .
6
27 .4
27 .7
23. 3

24.8
25.2
24.6

12.6
12.2
11.8
11.3
10.8
10.6
10.2
10.0

8,
.1
7.
,7
7.5
6..9
6. 1
5. 8
5. 6
5.3
5. 2
2
5 .
5. 3
4.7

100.0
100.0
100.0
103.0
103.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

6. 3

Year 1969
1970 - Jan.
Feb.
Mar .
Apr .
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec .

23.8

25 .1
26.5
27.8

29.2
30.2

31.5
34.3
32.4

33.1
33.2

23.8

23.5
23.9
23.6
23.4

15_.6

14.3
13.7
13.5
13.5
13.6

33.9

28.2

32.2

31.6

27. 7
26. 6

23.4
23.4
23.7

33.3 .

28.0

23.0

10.3
10.5
10.1

27. 3

24.0 .

11.0

Digitized for1970
31.8
Year FRASER


9.8

-

,

103.0