Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : April 8, 1958

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Not for publication;
L.4.2

BOARD IDF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

April 8, 1958
1
i\HCLLED AF""'ER SIX m6NT£§
'
MATURITIES ON AUTOMOBILE INSTALMENT LOANS
FEBRUARY 1950 W
JAMTARY%9$8
cdnt^Scts.)::

—

Maturities
New\carsr , ;
. 24" moniha or less
'25-30 months:
Sl-36 months
Over 36 months
; . Total
•

Used care l/
.12 months or less
.tiL-l9 iroriths
19-24 months
•Over 24 months
'
Total

: Total
Feb.
Jan.

Purchased
Paiper
Feb.
Jan.

Direct
loans
Feb.
Jan.

= $5.5
26.7
53.5
•35.T'. r-.3T.7:
7
, 20.6
, 21.1 • 19-3 . . 19,9: ; 23.. 1. • ,.23.6
20.8
23.2jj;
, >3,4: : .40.7:
53-7 • 50.8
0.2
0.1
0.3
0.3
0.6
0.5
100.0
100.0; . 1Q0.0
100.0 . 100.0
100.0,

... 20.2
23:,6
•; 4 o a
, 16.1
looto

! 20.0
16.5
: 17.3
20.2
.. 19.6
, 22.1
... 40.7 ; 41.1 ..; 41.8
21.4
. 22.1
• 17.2.
ipo.o
100.0
100.0

25.3
,>7.1
27.1
29.8
38.1 : . ,38.5
6.8,
100.0
100.0

1/Figures are predominately for late model used cars but include data from
a few"banks for all used cars.
NOTE: Distributions are based on tabulations of; data from l4l banks for
January and February and are not intended to be. estimates for all commercial
banks. In February reports .covered about 19/000 contracts, on new cars, 13,000
purchased and 6,000 direct, and 21,000 contracts on used cars, 13,000 purchased
and 8,000 direct. Since composition of the group of banks changes from month
to month, data are not comparable with previous releasee.
For distribution according to maturities and contract balance as a percentage of dealer cqg.t, ' pee following pages.* . " ' ~ : \




"

Not for publication
L.4.2

DEALER COST RATIOS AMD MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
FEBRUARY 1958 AND JANUARY 1958
NEW CARS
(Percentage distribution of contracts)

Maturities
Over 36
31-36
Contract balance 24 months
25-30
Total
months
months
months
or less
as percentage of
dealer cost if
Feb. r Jan. Feb. I Jan . Feb. 1 Jan. Feb. I Jan. Feb. | Jan.
PURCHASED PAPER
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

15.8
.12
2.3
0-5 0.5

i:S
26.9

28.7

5.6

25

3.0
1.0
21.2

li
8.3

11.4 10.9
11.8
0.1
16.8
3.6
7-6
1.6
2.9 0.1

0.1
0.1
0.2

23.1 5i.7 47.8 0.2

0.4

ill

1:1

32.2
21.7
28.2

1;:!
100.0

32.0
18.3
31.2
13.5
5-0

100.0

DIRECT LOANS
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

35-6 35-9 11.9 13.0
6.6
10.9
7.8
6.8
8.2
9.0
0.8
1.4
1.3
1.0 0.4 0.4
0.9

9.9

li

7-4
3.0
4.6
1.4
0.5

56.2 57.4 26.6 28.1 16.9

6.5 0.2
2.7
3.9 0.1
1.2 *
0.2 * •

55.1
20.7
18.8
3.6
1.8

55.4
20.2
18.9

100.Q

100.0

0.2

39.1
21.4
25.3

39-3
18.9
27.3
10.5
4.0

0.3

100.0

100.0

14.5 0.3

li

TOTAL
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

21.4 22.1
6.1
6.3
6.8
6.1
2.0
1.3
0.7
0.7

7.4
6.0
6.0
2.6
0.8

7.6

li
1.2

10.2
5.8
2.9

9.5 0.1
7.7
0.1

0.1

2.1 0.1

35-8 3.7-7 22.8 24.6 41.1 37-4 0.3

VI

l/Contract balance does not include finance and insurance charges.
*Less than one-tenth of one per cent.
NOTE: Distributions are based on tabulations of data from 92 banks for
January and February and are not intended to be estimates for all commercial
banks. In February reports covered about 10,000 contracts on new cars, 7,000
purchased and 3,000 direct. Since composition of the group of banks changes
from month to month, data are not comparable with previous releases.




X
Not for publication
L.lt.2

- 3 DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS (continued)
FEBRUARY 1958 AND JANUARY 1958
USED CARS

Iv

?!

(Percentage.distribution of contracts)
Maturities
Contract balance
12 months
Over 2it
19-2U
Total
or
less
as percentage of
months
months
wholesale value 1/ 2/ Feb. Jan. Feb. 1 Jan. Feb. J Jan. Feb. ; Jan. Feb. j Jan.
PURCHASED PAPER
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

5.7
2.6
2.8
2.0
2.8
15.9

5.6
1.8
3.2
1.7
2.1t
lit. 7

5.2
3.7
It. 7
2.6
3.3

9.9 10.7
5.9
8.1
8.0
3.2
lt.3' 12.0 13.3
6.8
3.0
7.5
5oit
3.2 6.0

3.6
lt.2
5.9
3.8

3.6

3.9
3.9
7.1
It.O
2.6

Sit: It
18.6
25.lt
15.9
15.7

26.1
16.9
27.9
15.5
13.6

19.5 19.6 lt3.5 ltlt.2 21.1 21.5 100.0 100.0
DIRECT IOAMS

80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

Hi. 3 17.5
3.2
3.5
0.9
1.2

3.3
3.5
0.8
1.3

17.2 15.7 15.6 17.3
6.8
5.2 8.5 7.5
5.1 it.6 10.1 9.it
2.it 3.2
1.2 0.8
2.It 1.2
1.2 0.9

23.1 26. li 31.5 27.2 39.0 38.6

3.0
1.3
1.3
0.5
0.3

2.8
1.9
1.9
0.6
0.6

56,1
19.8
20.0
5.0
5.1

§3.3
17.9
19-U
5. It
lt.0

6, it 7.8 100.0 100.0

TOTAL
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total-

8.9
2.8
3.1
1.6
2.1

9.7
2.3
3.3
l.it
2.0

18.5 18.7

9.6

it.8
it. 9
2.1
2.6

9.3 12.0 12.9
8.3
7.8
3.9
li.it 11.2 11.9
5.6
5.6
2.2
2.It it. 7 lt.l

3. it
3.1
lt.2
2.6
2. It

3.5
3.2
5.3
2.9
1.9

33.9
19.0
23.it
11.9
11.8

35.it
17.2
2lt. 9
12.1
10.it

2lu0 22.2 Itl. 8 lt2.3 15.7 16.8 100.0 100.0

?/ IVholesale value represents "average wholesale," "as is," "or buying value"
as indicated by used car guides,
NOTE: Distributions are based on tabulations of data from 92 banks for
January and February and are not intended to be estimates for all commercial banks.
In February reports covered about 11,000 contracts on used cars, 7,000 purchased
and it,000 direct. Since composition of the group of banks changes from month to
month, data are not comparable with previous releases.