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. U Of GOV, •. jLEJ^ERAL RESERVE s t a t i s t i c a l r e l e a s e For immediate r e l e a s e May 9 , 1973 A^TOMDBILE—LQANg^BY MAJOR FINANCE COMPANIES RECEIVED S E S E A 8 ; MAY 16 THE PROPORTION OF USED CAR CONTRACTS WITH MATURITIES OVER 24 MONTHS DECLINED AGAIN DURING MARCH FROM JANUARY'S HIGH. 1971 FEDc.x, . - :2:'_RVE BP OF RICHMOND 24 months 25-30 months 7. 31-36 months 7. Over 36 months 7o Balloon paper 7. 11.2 11.4 12.2 11.9 2.4 2.4 2.6 2.9 84.2 84.5 83.8 83.9 1.8 1.9 1.7 1.6 0.3 0.3 0.2 0.3 100.0 100.0 100.0 100.0 11.4 12.1 11.7 2.4 2.7 2.5 83.8 83.2 84.8 2.0 1.8 0.7 0.4 0.3 0.3 100.0 100.0 100.0 7. Seasonally adjusted March 1973 F e b r u a r y 1973 J a n u a r y '1973 December 1972 Total \ Unadjusted March 1973 F e b r u a r y 1973 March,1972 MATURITY DISTRIBUTION - USED CAR CONTRACTS 18 months 19-24 25-30 Over 30 Balloon months months paper months 7. % 7o % 7. Seasonally adjusted March 1973 F e b r u a r y 1973 J a n u a r y 1973 December 1972 4.8 5.0 4.8 5.2 13.5 13.0 13.1 15.3 28 .4 30.7 35.5 37.4 52.2 50.8 46.9 42.4 4 .6 4.7 5.1 11.8 11.3 11.8 27.8 28.9 31.6 55.7 55.1 51.6 1 Total 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 Unadjusted March 1973 F e b r u a r y 1973 March 1972 [ N o t e : 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 . % AUTOIDBILE LOANS BY MAJOR FINANCE COMPANIES USED CARS WERE FINANCED DOWNPAYMENT TERMS AS THE TRACTS WITH LOAN AMOUNTS COST DECLINED SHARPLY IN 1970 Seasonally a d j u s t e d 1971 UNDER LESS LIBERAL PROPORTION OF CONEXCEEDING DEALER MARCH. 1973 1972 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS ( l o a n as per cent of d e a l e r c o s t ) 90 or 91-100 101-105 106-110 Over 110 Total less 7. % % % % March 1973 ' February 1973 January 1973 December 1972 43.6 44.2 43.9 43.6 31.8 31.1 30.7 31.4 13.6 13.8 13.9 14.1 6.3 6.4 6.6 6 .4 4.7 4.6 . 4.5 4 .6 100.0 100.0 100.0 100.0 43.5 43.0 46.4 31.4 31.3 31.3 14.0 14.4 12.8 6.5 6.7 5.7 4.6 4.7 3.8 100.0 100.0 100.0 Unadjusted March 1973 February 1973 March 1972 Seasonally a d j u s t e d March 1973 February 1973 January 1973 December 1972 DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS ( l o a n as per cent of wholesale v a l u e ) 90 or Over 120 91-100 101-110 111-120 less Total 7. 7. % % % 31.5 30.9 30.5 29.7 28.3 26.8 26.6 26.5 24.5 24.9 25.6 25.3 10.9 11.9 11.9 12.0 5.3 5.8 5.8 7.0 100.0 100.0 100.0 100.0 30.4 31.2 31.2 27.6 26.5 27 .3 25.0 24.9 24.5 11.5 11.9 11.5 5.7 5.6 5.6 100.0 100.0 100.0 Unadjusted March 1973 February 1973 March 1972 Note: D e t a i l s may not add to t o t a l s because of rounding 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 . G.25 -3 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMDBILE INSTALMENT LOANS MARCH 1973 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 as per cent cf dealer cost 90% or l e s s 91% to 100% 101% to 105% 106% to 110% Over 110% Total Maturities 31-36 months Over 36 months 24 months 25-30 months 7.7 2.0 1.4 0.2 0.2 1.0 0.6 0.5 0.2 0.1 34.4 27.8 11.7 5.9 . 4.2 0.5 0.8 0.4 0.3 0.2 11.4 2.4 83.8 2.0 Balloon * 0.3 * 0.4 Total • 43.5 31.4 14.0 6.5 4.6 100.0 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 as per c e n t of wholesale value 90% or l e s s 91% to 100% 101% to 110% 111% t o 120% Over 120% 1 Total 19-24 months Maturities 25-30 months 3.6 0.5 0.3 0.2 0.1 6.6 2.6 1.6 0.7 0.3 7.9 8.5 7.1 3.1 1.3 12.3 16.0 16.0 7.5 4.0 4 .6 11.8 27.8 55.7 18 months Note: D e t a i l s may not add t o t o t a l s because of r o u n d i n g . * Less than o n e - t e n t h of one per c e n t . Over 30 months Balloon * 0.1 * 0.1 Total 30.4 27.6 25.0 11.5 5.7 100.0
@FedFRASER