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2 ) O - ' L^OCTJYO TZZ- , (3nrtd-tvmflA— S ^ W L W HUWCF BOARD V ) F GOVERNORS OF THE FEDERAL RESERVE SYSTEM ' ^ April 9, 1971 ECT AUTO LOANS BY COMMERCIAL BANKS DECONTROLLED AFTER SIX MOUTHS February 1971 January 1971 Three months ending February* 1971 I 1970 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 28.7 6.7 64.0 0.6 27.5 8.3 63.5 0.7 27.8 7.3 64.3 0.6 27.8 6.0 65.9 0.4 89.4 88.6 88.8 87.0 Contracts written for 36 months: Median loan/value ratio USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 18.2 13.4 35.2 33.3 19.6 13.2 34.6 32.7 19.2 14.1 34.2 32.5 16.9 12.7 35.5 34.8 89.3 89.2 89.0 88.8 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. r L.4.2 -2DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 12.7 3.3 82.0 1.9 13.3 3.3 81.6 1.7 13.0 3.3 82.0 1.7 13.3 3.2 81.6 1.9 93.2 92.9 93.1 92.8 Contracts written for 36 months: Median loan/value ratio USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 15.7 12.0 27.1 45.2 16.4 11.6 28.2 43.8 16.0 11.5 28.1 44.4 All used car contracts: Median loan/value ratio •Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. 96.9 10.1 9.6 30.9 49.4 ULI L.4.2 -3DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS FEBRUARY 1971 AND JANUARY 1971 r NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ 24 months 25-30 or less months Feb. 1 Jan. Feb. Jan Maturities Over 36 31-36 months months Feb .1 Jan* , Feb.I Jan. Total Feb. 1 Jan, PURCHASED PAPER 807= or less 817, to 90% 91% to 100% 101% to 110% Over 110% 6.8 2.0 2.2 1.4 0.8 7.8 2.1 2.1 1.0 0.8 1.1 0.9 0.8 0.6 0.2 1.3 0.7 0.7 0.5 0.2 15.6 17.6 24.1 15.9 8.3 16.3 17.7 23.0 14.8 9.3 0.2 0.1 0.7 0.3 0.2 0.2 0.1 0.6 0.3 0.2 23.6 20.7 27*8 18.3 9.5 25.6 20.6 26.4 16.6 10.4 Total 13.2 13.8 3.6 3.4 81.6 81.4 1.6 1.4 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 12.1 5.6 5.1 0.9 1.4 12.3 5.4 4.2 1.1 1.4 3.5 1.2 1.1 1.2 0.2 4.7 17.2 -1.7 16.0 1.5 18.2 1.5 4.7 3.0 0.7 19.3 13.8 18.8 3.9 1.5 0.3 0.3 0.3 0.4 0.1 0.3 0.1 0.1 33.1 23.1 24.8 6.8 4.6 36.7 21.0 24.8 6.5 3.7 Total 26.9 26.1 7.7 10.6 64.5 62.2 1.0 1.1 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.2 3.0 3.0 1.3 1.0 9.0 3.0 2.6 1.0 0.9 1.7 1.0 0.9 0.7 0.2 2.2 1.0 0.9 0.7 0.3 16.0 17.0 17.2 16.7 22.6 21.9 13.0 11.9 7.2 6.9 0.2 0.6 0.3 0.1 0.2 0.1 0.5 " 0.2 0.2 26.1 21.3 27.0 15.3 8.2 28.5 20.7 26.0 14.0 8.7 16.9 17.0 4.7 5.3 77.0 1.4 . 1.3 100.0 100.0 DIRECT LOANS TOTAL Total 76.4 VContract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for February and January are derived from reports of 102 banks, 54 of which reported dealer cost ratios as well as maturities. The February maturity distribution for new cars shown on pages 1 and 2 is based on 27,000 contracts, 18,000 purchased and 9,000 direct. The cross-classifieation on this page is based on 15,000 contracts, 11,000 purchased and 4,000 direct. The data are not intended to be estimates for all commercial banks and are not comparable with previous releases since composition of the group of banks changes, from month to month. Details may not add to totals because of rounding. L.4.2 - 4 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) , FEBRUARY 1971 AND JANUARY 1971 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months or less Feb.| Jan. 13-18 months Feb.| Jan. Maturities 19-24 months Feb.| Jan. Over 24 months Feb. | Jan. Total Feb. | Jan. 17.6 15.3 25.2 18.0 23.8 17.4 14.6 25.9 18.1 23.5 100.0 100.0 PURCHASED PAPER 80% or less 817= to 90% 91% to 100% 101% to 110% Over 110% 4.3 1.3 6.3 1.3 1.7 4.4 1.2 6.9 1.4 1.8 2.3 1.8 1.9 1.7 2.6 Total 14.8 15.8 10.4 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.5 3.7 4.1 1.0 2.1 8.3 4.0 5.4 1.5 2.1 5.0 1.9 4.0 0.9 2.0 5.3 1.8 4.3 0.9 2.3 11.9 7.0 12.0 2.2 4.8 12.8 6.3 11.1 2.5 3.6 8.2 5.3 8.8 3.7 3.1 8.0 4.8 8.2 3.6 3.1 33.5 17.8 29.0 7.7 12.0 34.5 16.9 29.0 8.4 11.2 19.4 21.4 13.7 14.5 37.8 36.3 29.1 27.7 100.0 100.0 6.1 6.0 10.0 7.9 9.2 23.0 16.2 26.5 14.5 19.8 23.1 15.4 26.9 14.8 19.4 2.2 1.7 1.9 1. 7 2.1 4.7 4.5 5.9 4.2 6.5 9.7 25.8 6.4 5.1 5.7 5.0 6.7 7.7 6.3 11.1 10.8 4.9 10.8 10.1 7.2 13.0 12.3 29.2 49.0 45.3 DIRECT LOANS Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 5. 7 2.1 5.6 1.2 1.8 5.7 2.2 6.4 1.4 1.9 3.2 1.8 2.6 1.4 2.4 3.3 1.8 2.7 1.4 2.2 7.1 5.4 8.0 3.5 5.9 8.1 5.4 7.9 4.1 6.0 7.0 6.9 10.3 8.4 9.7 Total 16.4 17.7 11.5 11.3 29.9 31.6 42.2 39.4 100.0 JL/Contract balance excludes finance and insurance charges. ^/Wholesale value represents "average wholesale," "as is," or "buying value" as indicated by used car guides., 100.0 NOTE: Distributions for February and January are derived from reports of 102 banks, 50 of which reported dealer cost ratios as well as maturities. The February maturity distribution for used cars shown on pages .1 and 2 is based on 22,000 contracts, 14*000 ourchased and 8,000 direct. The cross-classification on this page is based on 10,000 contracts, 7,000 purchased and 3,000 direct. The data are not intended to be estimates for all for commercial Digitized FRASERbanks and are not comparable with previous releases since composition of the group of banks changes from month to month,. http://fraser.stlouisfed.org/ Details may not add to totals because of rounding. Federal Reserve Bank of St. Louis
@FedFRASER