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FEDERAL
statistical

RESERVE

release

LL " y
-

r
J] For immediate release
immediate 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)

7
o

%

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
=
7
o
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

1
1
Note: Details may not add to totals because of rounding.
* Less than one-tenth of one per cent.




0.1