Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : August 12, 1958

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Not f o r p u b l i c a t i o n
L.li.2

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
A u g u s t

b s c o j i t r o l l e d a f t e r s i x months

1 2

'

1 9 5 8

'

MATURITIES ON AUTOMOBILE INSTALMENT LOANS
JUNE 1958 AND MAY 1958
(Percentage d i s t r i b u t i o n of c o n t r a c t s )

Maturities

Tot a l
June

New c a r s
2 It months o r l e s s
25-30.months•
31-36 months
Over 36 months
Total

31.1
17.3
51. It
0.2
100.0

Used c a r s 1 /
12 months o r l e s s
13-18 months
19-2li. months
Over 2 It months
Total
;

18.8
22.3
1*2.2
16.7
100.0

May

Pure:hased
Pa p e r
May

June

23.6
32.8
18.0
lit. 7
6l.lt
18.8
o.lt •
0.3
100.0
100.0

19-2
22.7

la. 5

• 16.6
100.0

15.7
19.1
lt3.7
Jii5
100.0

.

June

Di r e c t
Loans
May

16.9
22.7
30.3
0.1
100.0

lt7.8
23.6
28.5
0.1
100.0

l6.lt
25.2
19.9
28.9
lt2.3
39.1
y6.8
21.lt
loo^p^ 1 0 0 . 0

21.7
28.lt
39.9
7.0
100.0

2lt.8
15.1
59.5
0.6 .
iooTo

|

1 / F i g u r e s a r e p r e d o m i n a t e l y f o r l a t e model u s e d c a r s b u t i n c l u d e d a t a from
a few banks f o r a l l u s e d c a r s .
f.
NOTE: D i s t r i b u t i o n s a r e b a s e d on t a b u l a t i o n s o r d a t a from 139 banks f o r
May and June and a r e n o t i n t e n d e d t o be e s t i m a t e s f o r a l l commercial banks;
I n June r e p o r t s . c o v e r e d about 25,000 c o n t r a c t s on new c a r s , . 1 7 , 0 0 0 p u r c h a s e d
and 8,000 d i r e c t , and 27,000 c o n t r a c t s on u s e d c a r s , 18,000 p u r c h a s e d and
9 , 0 0 0 d i r e c t . S i n c e c o m p o s i t i o n o f t h e group o f banks changes from month t o
month, d a t a a r e n o t comparable w i t h p r e v i o u s r e l e a s e s .
For d i s t r i b u t i o n a c c o r d i n g t o m a t u r i t i e s and c o n t r a c t b a l a n c e a s a p e r c e n t a g e of d e a l e r cost> s e e f o l l o w i n g p a g e s .




#
Not f o r p u b l i c a t i o n
L.U.2

- 2 -

DEALER COST RATIOS /ND MATURITIES
ON AUTOMOBILE INSTALTMT LOANS
JUNE 1958 AND MAY 1958
NEW CARS

(Percentage d i s t r i b u t i o n . o f contracts)
Contract balance
as p e r c e n t a g e of
dealer cost 1/

Maturities
2h months
25-30
1
31-36
months J
or less
months
June 1 May June |May 1 June | May

Over 36
months
June T May

Total
June'1 May

PURCHASED PAPER

.

80% o r l e s s
81% t o 90%
91% to. 100%
101% t o 110%
Over 110%
Total

1.1

1U.6
3.7
li.it
0.7

0.5

o.U

13.7
. 3.9

3-5

22.7

23.8

5.1
3.5

U.6
2.0
0.6
15.8

U.9 lU.6
3.8 1U.3
U. 7 2 0 . 1
2.2 8 . 3
U.o
0*5

16.1 61.3

13.8
13.2
20. U
8.2

*
0.1

U.o

0.1

59.6

33-ij
21.8
28.2

o.U

0.1
0.2

a

33.3

20.7
29.9

ll.JLi

11.2

5.2

U.9

100.0 100,0

0.5

DIRECT LOANS
80% o r l e s s
81% to 90%
91% t o 100%
101% to 110%
Over 110%
Total

10.6

1.9

32.8
9.3
6.5
0.8
0.5

19.5

U9.9'

2U.7

31.ii
9.1
5.7
l.U

5.6

7.0
1.1
o.U

1 3 . 5 11. U
5.0
5.5
5.7 6 . 7
1.5 2.0
0.5 0 . 6 .
26.7 25.7

8.8

5.6
5.9

*
*
*

2.0
1.1

0.1-

23. U

0.1

*
*

*

53. U
19.7
19.U
U.5

55.1
20. U
18.1

3.0

2.1

U.3

100.0 100.0

TOTAL
.

.80% o r l e s s
81% t o 90%
91% t o 100%
101% -to 110%
Over 110%
Total

18. U
5,3
u.i

20.0

6.6

5.U

U.o

5.0
0.7

1.2
0.8

o.U

5.2
1.8
0.5

29.8

31.5

18.1

7.5 13.7 12.3
10.9..
U. 3 11.9
5 . 0 1 6 . 5 16.0
2.0 6.6
6.U
o . 5 _3-.2 ."3.2 .
19.3

51.9

U8.8

0.1

*
*

*
*

0.3
0.1

- M .

0.2 '

*
o.U

.

38.7
21.3
25.8

39.8
20,6
26.3

9.6
U.6

9.2
U.l

100.0 100.0

1 / C o n t r a c t b a l a n c e does n o t i n c l u d e f i n a n c e and i n s u r a n c e c h a r g e s .
*Less t h a n o n e - t e n t h of one p e r c e n t .
NOTE: D i s t r i b u t i o n s a r e based on t a b u l a t i o n s of d a t a from 92 banks f o r
May and June and a r e n o t i n t e n d e d t o be e s t i m a t e s f o r a l l commercial banks.
I n June r e p o r t s covered about lit,000 c o n t r a c t s on new c a r s , 10,000 purchased
and U,000 d i r e c t . Since composition o f t h e group of banks changes from month
to month, d a t a a r e n o t comparable w i t h p r e v i o u s r e l e a s e s .




c

Not f o r p u b l i c a t i o n

- 3 -

Ii.li. 2
•'

DEALER COST RATIOS AND MATURETIFS
ON AUTOMOBILE INSTALMENT LOANS (continued)
JUNE 1958 AND MAY 1958
USED CARS
(Percentage d i s t r i b u t i o n of c o n t r a c t s )
12 months
or less

i
I

Contract balance
as percentage of
wholesale value 1 / 2 /

Maturities
13-18
19-24
months
months
•
June
Junel May
' i May

Over 2it
months
Junel May

Total
Junel May

PURCHASED PAPER
80% o r l e s s
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

5.2
2.1
2.8
1.9
2.a

2.1t
3-2
1.8
2.7

iit.it

15.6

It. 7
3.2
3.9

5.5

2.8

3.6
18.2

5.0 9.0
3.6 9 . 3
It. 2 12.9
2.5 6 . 9
3.6 7.5
18.9

lt5.6

9.2
8.6

lt.1
Lit

3.2
li.2

12.2
7.0
JLO

6.0
3.5
3.8

5.9
It. 7
3.5

ltlt.0

121.8

21.5

23.0
19.0
25.6
15.1
17.3

22.9
18.8

25.5
16.0
16.8

100.0 100.0

DIRECT LOANS
80% o r l e s s
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

lit. 6 15.2
3.1*
3.1
3.0
3.2
0.7
0.7
1.1
1.1
23.0

23.1

8.1
2.5

8.5
2.6
3.1

1

lit. 5
5.6
U. 6
1.7
2.0

15.2 13.6
5.1 H . 3
5.0 9 . 9
1 . 2 It. 3
l.lt 2.8

15.0
8.1
10.6
It. 7
3. It

1.6
0.9
2.0
0.9
1.3

1.8
1.0
2.7
0.7
1.0

28.lt

27.9 111. 9

Itl. 8

6.7

7.2

7.8
3.9

8 . 1 10.lt
lt.1 9 . 9
lt.5 12.0
2.0 6 . 1
3.0 6 . 0

11.0
8.It
11.7
6.3
5.9

3.3
3.It
It. 8
2.7
3.0

2.8
3.2
lt.9
3.5
2.7

Ui. 3
21.2
19.7
7.6
7.2

lt7.2
17.3
21.3
7.3
6.9

100.0 100.0

TOTAL
80% o r l e s s
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

2.9
1,5

1,5

lt.1
2.U

2.1

2.2

3.1

j 17.1

17.9

21.3

21.7 lilt. It lt3.3

17.2 - 1 7 . 1

29.6

19.7
23.8
12.7
lit. 2

30.lt
18.3
2lt.2
13.3
13.8

100.0 100.0

1 / Contract balance does n o t i n c l u d e f i n a n c e and i n s u r a n c e c h a r g e s .
2 / Wholesale value r e p r e s e n t s "average w h o l e s a l e , " " a s i s , " " o r buying value"
as i n d i c a t e d by used c a r g u i d e s .
NOTE: D i s t r i b u t i o n s a r e based on t a b u l a t i o n s o f data from 92 banks f o r
May and June and a r e n o t i n t e n d e d to be e s t i m a t e s f o r a l l commercial banks.
I n June r e p o r t s covered about 15,000 c o n t r a c t s on used c a r s , 10,000 purchased
and 5,000 d i r e c t . Since composition o f the group of banks changes from month to
month, d a t a a r e n o t comparable with p r e v i o u s r e l e a s e s .