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FEDERAL statistical RESERVE release L-L " y r immediate J] For immediate release reiea: ( l u m b e r 13, 1968 / * /•- AUTOMOBILE LOANS BY MAJOR SALES FINANCE COMPANIES NEW CAR CONTRACTS WITH SHORT MATURITIES (LESS THAN 24 MONTHS) NOW LESS THAN 12% OF TOTAL NEW CAR CONTRACTS. 1968 Seasonally adjusted September 1968 August 1968 J u l y 1968 June 1968 Unadjusted September 1968 August 1968 September 1967 Seasonally adjusted September 1968 August 1968 July 1968 June 1968 MATURITY DISTRIBUTION - NEW CAR CONTRACTS |24 months 25-30 31-36 Over 36 Balloon I or less months months months Total P I 1 % % % % j j , j j No. of contracts reported (000) 11.7 12.6 12.8 13.2 2.1 2.3 2.6 2.5 85.0 84.0 83.5 83.2 0.4 0.5 0.4. 0.5 0.8 0.6 0.7 0.6 100.0 ,100.0 100.0 100.0 115 122 136 112 10.4 11.0 12.6 2.0 2.1 2.4 86.6 85.9 84.0 0.4 0.5 0.5 0.6 0.5 0.5 100.0 100.0 100.0 104 137 92 | 1 I MATURITY DISTRIBUTION - USED CAR CONTRACTS j18 months 19-24 25-30 Over 30 Balloon months months months Total % % % ! % V No. of contracts reported (000) 6.1 6.5 6.9 6.9 17.1 17.3 17.4 17.5 34.2 34.3 33.9 34.2 42.1 41.5 41.4 41.2 0.5 0.4 0.4 0.2 100.0 100.0 100.0 100.0 41 42 46 38 7.1 6.8 8.2 20.6 19.3 22.2 36.0 36.6 36.6 35.9 37.0 32.7 0.4 0.3 0.3 100.0 100.0 100.0 38 44 36 Unadjusted September 1968 August 1968 September 1967 -2- G.25 • .AUTOMOBILE LOANS BY MAJOR SALES FINANCE COMPANIES PROPORTION OF NEW CAR CONTRACTS WITH LOW DOWNPAYMENTS (D.C.R. 100%+) REVERSED 8-MONTH DOWNTREND. - 28 - 26 1966 1967 1968 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS 90 or less 91-100 101-105 106-110 j Over 110 % 7. Total No. of contracts reported (000) 7o % 6.3 6.0 6.2 6.2 4.7 4.4 4.1 4.3 100.0 100.0 100.0 100.0 106 113 127 103 5 .8 5.9 6.3 4.3 4.2 4.6 100.0 100.0 100.0 95 126 84 Sea'son.i 1 ly adjusted September 1968 August 1968 July 1968 June 1968 ; 44.1 45 .7 45 .5" 45.0 13.1 .12.7 ' 12.9 12.9 1 Unadjusted September 1968 'August 1968 September 1967 i 31.8 !' 31 .2 | 31.3 31.6 44.3 , 44.9 l 44.0 33.2 1 32.3 32.2 j 12.4 12.7 12.9 DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS C1 nan as per cent of wholesale value) No. of contracts 90 ur j 91- 100 101-110 111-120 Over 120 Total reported (000) % 7= 7o Seasonally adjuste# September 1968 August 1968 July 1968 June 1968 Unadjusted September 1968 August 1968 September 1967 | ! 24.8 , 26.9 26.8 ! 27 .3 1 23.4 t 23.5 | 24.6 24.3 25.0 25.3 25.0 25.2 15.1 13.8 13.7 13.4 23.2 23.4 24.3 25.3 25.8 25.1 15.4 14.4 14.0 ' 11.7 10.5 9.9 9.8 100.0 100.0 100.0 100.0 35 35 39 32 12.4 11.1 10.1 100.0 100.0 100.0 32 37 30 | 23.7 25.3 26.5 G. 25 -3AUTOMOBILE LOANS BY MAJOR SALES FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS SEPTEMBER 1968 NEW CARS (Percentage distribution of contracts) Not seasonally adjusted Loan as per cent of. dealer cost 90% or less 91% .to 100% 101% to 105% 106% to 110% Over 110% Total 24 months 25-30 months 8.0 1.2 0.4 0.2 0.1 1.3 0.4 0.1 0.1 9.8 Maturities 31-36 Over 36 months months Balloon 0.2 0.2 0.1 * 34.7 31.3 11.8 5.5 4.0 * 0.2 0.1 0.1 0.1 0.1 1.9 87.4 0.4 0.5 Total • 44.3 33.2 12.4 5.8 4.3 100.0 USED CARS (Percentage distribution of contracts) Not seasonally adjusted Loan as per cent of wholesale value 90% or less 91% to 100% 101% to 110% 111% to 120% Over 120% Total 18 months 19-24 months Maturities Over 30 25-30 months months Balloon Total 3.8 1.0 0.6 0.3 0.5 6.7 4.2 3.5 2.0 1.9 7.0 8.7 10.4 6.3 4.9 6.1 9.2 10.7 6.7 5.1 0.1 23.7 23.2 25.3 15.4 12.4 6.3 18.3 37.4 37.8 0.2 100.0 11 Note: Details may not add to totals because of rounding. * Less than one-tenth of one per cent. 0.1
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