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F E D E R A L R E S E R V s t a t i s t i c a l r e l e a s E e f *AL R£^* For immediate r e l e a s e S e p t e m b e r 9, 1974 AUTOMOBILE LOANS BY MAJOR FINANCE COMPANIES THE PROPORTION OF NEW CAR CONTRACTS WITH MATURITIES EXCEEDING 3 6 MONTHS HAS MORE THAN DOUBLED SINCE THE BEGINNING OF THE YEAR. 1971 1972 1973 1974 MATURITY DISTRIBUTION - NEW CAR CONTRACTS O v e r 36 Balloon 31-36 j 24 m o n t h s j 2 5 - 3 0 months months or ^es s months 7= ' 7c 7o ^ % Total ! Seasonally adjusted J u l y 1974 J u n e 1974 May 1 9 7 4 A p r i l 1974 10.5 10.3 10.5 11.5 1.8 1.7 1.7 1 .9 1.5 1.5 1 .8 78.5 79.8 80.6 80.4 8.4 6.8 6 .0 5.2 0.4 0.3 0 .4 0.1 100.0 7 7.7 3.1 0.2 0.2 0.1 100.0 100.0 100.0 ido.o 100.0 ' 100.0 Unadjusted July June July 1974 1974 1973 r 8.8 j 9.2 1 " 80.9 81.4 85.7 S MATURITY DISTRIBUTION - USED CAR CONTRACTS O v e r 30 Balloon 18 m o n t h s 19-24 25-30 months months months 1 7= 7o % % ^ % | Seasonally adjusted J u l y 1974 J u n e 1974 May 1 9 7 4 A p r i l 1974 Unadjusted July June July 1974 1974 1973 Total ) - 4.3 4.4 4.2 4.4 13.3 13.3 13.4 13 .4 29.4 30.0 30.0 29.7 53.4 52.2 51.8 51.5 100.0 100.0 0.2 . 100.0 0.1 100.0 0.1 100.0 100.0 - J | j | 0.1 0.1 4.1 4.0 12.5 12.0 4.5 12.8 N o t e :forDFRASER e t a i l s may n o t a d d t o t o t a l s Digitized f a c t o r s by s e c t o r . because of 29.5 29.4 53.8 ' 54.5 31 .9 50.8 r o u n d i n g and 0.1 0.1 construction 100.0 of seasonal G.25 -2- AUTOMDBILE LOANS BY M J O R FINANCE COMPANIES THE PROPORTION OF USED CAR CONTRACTS WITH LOW DOWNPAYMENTS (DEALER COST RATIOS OVER 1GU PER CENT) ROSE SOMEWHAT FURTHER IN J U L Y . -1 35 i 1 1371 I 1972 i 1973 1974 DISTRIBUTION OF DEALER COST RATIOS - NEW CAR CONTRACTS ( l o a n a s p e r c e n t of d e a l e r c o s t ) O v e r 110 9 1 - 1 0 0 • 1 0 0 - 105 106-110 i 90 o r ; Total less 70 1 % 7o 7o Seasonally adjusted i J u l y 1574 J u n e 1574 May 1 9 7 4 A p r i l 1974 I I j j j 32.9 32.7 33.0 32.9 12 12 12 13 45 .0 44 .9 4 3 .0 ! 33.5 33.2 32.4 12 . 4 12 . 6 13 .6 | ^ Unadjusted July June July 45 .2 4 5 .3 4 4 .6 .3 .7 .7 .3 .0 5 5 5 5 .5 .6 .8 .7 3 .7 3 .8 3 .9 4 .0 100.0 100.0 100.0 100.0 5 .5 5.7 6.5 3 .6 3 .7 4 . .5 100.0 100.0 100.0 | | 1974 1974 1973 1 , DISTRIBUTION OF DEALER COST RATIOS - USED CAR CONTRACTS ( l o a n a s p e r c e n t of w h o l e s a l e v a l u e ) 1! 1 - 1 1 0 | 1 1 1 - 1 2 0 I O v e r 1 2 0 : 25 . 1 24 .9 24 . 7 Jul Jim 10.7 10.8 10.5 10.5 100.0 5 .2 4.9 4.9 5 .0 100.0 100.0 100.0 Unadjusted J„ Note: ' 1474 Detail- mav n o t ad inc and construction of seasonal G .25 AUTOMOBILE LOANS AT MAJOR FINANCE COMPANIES DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS JULY 1 9 7 4 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 p e r c e n t of dealer cost | 90% o r l e s s 91% t o 100% 101% t o 1057= 106% t o 110% O v e r 110% 24 m o n t h s 25-30 months 0.9 0.3 0.2 0.1 i 6.7 ! 0.5 | 0.1 0.1 j 8.8 r 1 Total i Maturities 31-36 months j | ; | * 15 ! O v e r 36 months 35.2 28.2 10.1 4.5 ! j 2.9 j 1.6 0.9 0.6 | 8.7 80.9 2.2 3.4 ! Balloon j paper 1 ! * 0.2 ! * J ji * * 0.2 Total 45.0 33.5 12.4 5.5 3.6 100.0 1 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% o r l e s s 91% t o 100% 101% t o 110% 111% t o 120% O v e r 120% | ; | 18 m o n t h s | Total Note: D e t a i l s may n o t * Less than one-tench i add t o of one 19-24 months 0.5 0.2 0.1 0.1 6.8 2.9 1.9 0.6 0.3 4.1 12.5 totals because per c e n t . Maturities | 25-30 | months j j of O v e r 30 months 8.1 8.4 8.1 3.4 1.6 12.2 15.8 15.8 6.8 3.3 29.5 53 .8 i rounding. Balloon * 0.1 * 0.1 Total 30.3 27.6 26.0 10.9 5.3 100.0
@FedFRASER