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Hot for publication BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM August 8, I960 , DECONTROLLED AFTER SIX M 0 N T H ^ ATUKCTIE3 0 N AUTOMOBILE INSTALMEML^QMS JIBE i960 AND MAY i960 -- (Percentage distribution of contracts) ^ Maturities ; Total May June Purchased 5&per way June Direct loans May June New cars 24 months or less 25-30 months 31-36 months Over 36 months Total 26.8 9.4 63.3 _o.J 100.0 28.3 ,9-% 61.6 __0Jk 100.0 20.1 7> 72.1 Q.4 100.0 21.3 7.7 70.4 -0.6 100.0 41.2 13.9 44.2 0.7 100.0 42.7 13.7 43.5 0.1 100.0" Used cars l/ 12 months or less 13-18 months 19-24 months Over 24 months Total 18.2 16.3 41.5 24.0 100.0 15.3 16.5 42.0 26.2 14.0 13.8 42.4 29.8 J 100.0 11.9 13.3 42.7 -32a 100.0 28.3 22.4 39.5 23.6 24.5 40.1 100.0 100.0 100.0 1/ Figures are predominately for late modal used cars but include data from a few banks for all used cars. NOTE: Distributions are based on tabulations of data from 135 banks for May and June and are not intended to be estimates for all commercial banks. In June reports covered about 38,000 contracts on new cars, 26,000 purchased and 12,000 direct, and 20,.000 contracts on used cars, 14,000 purchased and 6 000 direct. Since composition of the group of banks changes from month to month data are not comparable with previous releases. For distribution according to maturities and contract balance as a percentage of dealer cost, see following pages. Not for publication - LA.2 2 - DEAL JR COST RATIOS AND MATURITIES ON AUTOMOBILE If! JTALHSNT LOiiNS JUNE I960 AND MAY I960 NEW C.IRS (Percentage distribution of contracts) Contract balance as percentage of dealer cost l/ Maturities 24 months | 25-30 31-36 or less ! months months June 1 May i Junei May June 1 May Over 36 months June | May T t 1 June | May PURCHASED PAPER 60fo or less 81'to 91>5 to ICO# 101;' to 110)o Over 110/b Total 12.6 14.0 3.3 3-7 3.2 3-0 0.8 0.8 0.3 -0-.5 20.6 I 2.9 1.7 j 2.2 1 0.7 1 0._2 21.6 | 7.7 2.8 2.0 2.2 0.7 0^2 13.7 I 14.2 * 17.4 17.2 24.3 23.6 * 11.8 10.3 4.5 5.0 —L. 0.2 7.9 71.7 * 0.2 100.0 100.0 * * 51.3 19.4 19.6 6.4 3.3 70.3 * * * 29.2 31.0 22.8 22.5 29.0 29.7 11.8 13.3 5.0 _ ^ 7 DIRECT LOANS 8O/0 or less 81^4 to 90?: 91^tol00y& 101 fo to 110> Over 110,3 Total 27.7 7.6 4.9 2.0 0.9 28.3 7-5 6.0 1.9 1.0 43.1 44.7 i 15.3 116.2 j 41.5 39.0 7.1 . 3.9;! 3.1 1.0 0^1 7-3 1I 14.1 15.7 10.1 8.2 *7 3.8 ! 10.2 9.8 1.1 | 4.5 3.4 1.9 M , l_&L$ * 0.1 48.9 21.6 18.2 7.6 5.7 0.1 0.1 100.0 100.0 j 34.7 22.4 26.5 11.7 0.1 4.7 36.9 21.6 26.3 10.2 5.0 5 0.1 TOTAL 80,/a or less 16.8 81/b to 909: 4.7 91/6 to 100,^ 3.7 101 ; to 110", 1.1 Over 110-' 0.5 Total 1 / 26.8 16.1 4.5 3.9 1.1 0.6 4.1 2.3 2.5 0.7 4.2 2.5 2.6 0.8 Oii 28.2 9.8 10.3 -x-4- V 0 * 13.8 |14.6 15.4 |14.6 * 20.3 19.7 8.3 0.1 9.8 4.0 4.1 —L. 0.1 61.3 63.3 1 * * 0.1 0.2 100.0 100.0 1 x " Less than one-tenth of one per cent. N0T5: Distributions are based on tabulations of data from 81 banks for Kay and June and are not intended to be estimates for all commercial banks. In June reports covered about 21,000 contracts on new cars, 15*000 purchased and 6,000 direct. Since composition of the croup of banks changes from month to month, data are not comparable with previous releases. 11° Not for publication 1.4.2 - 3 DEALER COST RATIOS' AED MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) JUNE I960 Aim MAY i960 USED CAES Contract balance as percentage of wholesale value l/ 2/ (Percentage distribution of contracts) ______ Maturities Over 24 I 19-24 13-18 12 months . months Total or less months months JuneT l^ay jjnae jMay June I May June hMa.y PURCHASED PAPER 80# or less 81# to 90# 91# to 10C# 101# to 110# Over 110# 3.7 2.0 2.5 1.5 1.9 4.0 2.3 2.6 1.8 2.1 2.6 2.8 2.7 1.8 2.7 3.1 2.1 2.5 2.0 2.7 7.9 8.7 11.6 7.5 8.4 8.1 8.0 11.6 8.0 8.3 4.3 5.38.4 6.2 6.8 18.6 ! 19.5 18.2 17.5 26.5 25.1 16.7 18.0 20.0 19.9 Total 11.6 12.8 12.6 12.4 44.1 44.0 31.7 30.8 100.0 100.0 80# or less 81# to 9C# 91# to 100# 101# to 110# Over 110# 17.0 3.2 5.1 1.7 2.4 15.7 2.4 2.6 0.8 1.6 10.0 3.8 4.9 .2.1 1.4 13.6 4.4 4.0 1.6 1.3 16.7 9.5 7.6 3.7 3.0 14.0 9.5 8.3 3.9 3.9 1.8! 1,9 1.6 2.5 2.0 3.3 1.5 2.0 1/) J L Z 45.5| 45.2 18.11 18.8 19.61 18.2 8.3 9.0 7.8 _ 9.5 Total 29.4 23.1 22.2 24.9 40.5 39.6 7-9 jl2.4 3.7 3.8 7,4 4.7 4.4 4.7 9.7 5.9 7.0 DIRECT LOANS 100.0 100.0 TOTAL 3.6 4.4 7.1 5.1 GO# or less 81# to 90# 91# to ICO# 101# to 110# Over 110# 7.4 2.3 3.2 1.6 2.1 7.1 2.3 2.6 1.5 2.0 4.7 3.1 3.4 1.9 2.3 5.9 2.7 2.9 1.9 2.3 10.4 8.9 10.5 6.4 6.9 9.7 8.4 10.7 7.0 7.1 Total 16.6 15.5 15.4 15.7 43.1 42.9 24.9 25.9 26.2 26.3 18.1 17.8 24.5 14.6 16.6 23.3 15.5 17.1 100.0 100.0 l/ Contract balance does not include finance and insurance charges. " J" 2/ 2/ Wholesale value represents "average wholesale/' "as is, or buying value as indicated by used car guides. ^ , M NOTE: Distributions are based on tabulations of data from 67 banks for_M y direct. Since composition of the group of banks changes from month to month, data are not comparable with previous releases.
@FedFRASER