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Not f o r p u b l i c a t i o n BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM L.lt.2 December 10, 1958 ^ M T U R I T I E S ON AUTOMOBILE INSTALMENT LOANS OCTOBER 1 9 5 8 A N D SEFTFMBFR 1 9 5 8 T)#( (Percentage d i s t r i b u t i o n o f c o n t r a c t s ) Maturities " Total Purchased Paper Oct. 1 Sept. Direct Loans Oct. . Sect. Oct. Sept. New cars 2h months or l e s s 25-30 months 31-36 months Over 36 months Total 29.6 15.5 5L6 0.3 100.0 29.1 16.7 53.9 0.3 100.0 22.6 13.lt 63.7 0-3 100.0 22.2 lh.O 63.3 0.5 100.0 h7.2 20. h 32.2 0.2 100.0 Used cars 1 / 12 months or l e s s 13-18 months 19-21* months Over 2k months Total 18.8 21.8 10.7 18.7 100.0 19.1 22.7 hO. 6 17.6 100.0 15.8 19.1 hi. 2 23.9 100.0 15.7 19.8 hi. 8 22.7 100.0 25.0 27.2 39.6 100.0 h5. h 23.0 31.5 0.1 100.0 25.7 28.h 38.3 , 7.6 100.0 1 / Figures are predominately f o r l a t e model used c a r s but i n c l u d e data from a few banks f o r a l l used c a r s . NOTE: D i s t r i b u t i o n s are based on t a b u l a t i o n s of data from 139 banks f o r September and October and are not intended t o be e s t i m a t e s f o r a l l commercial banks. I n October reports covered about 2It,000 c o n t r a c t s on new c a r s , 17,000 purchased and 7,000 d i r e c t , and 25,000 c o n t r a c t s on used c a r s , 17,000 purchased and 8 , 0 0 0 d i r e c t . Since composition of the group o f banks changes from month to month, data are not comparable with previous r e l e a s e s . For d i s t r i b u t i o n according to m a t u r i t i e s and c o n t r a c t balance as a percentage o f dealer c o s t , see f o l l o w i n g pages. m r* Not for publication — 2 — DEALER COST RAHOS /ND MATURETIFS ON AUTOMOBILE INSTAIOTT LOANS L.lt.2 OCTOBER 1958 AND SEPTEMBER 1958 NEW CARS Contract balance as percentage of dealer cost 1 / (Percentage distribution of contracts) Maturities Over 36 2 it months 31-36 25-30 months months months or l e s s 1 Sept, Oct. Oct. JSept. Oct. I Sept. Oct. I Sept. "Oct. i Sept. PURCHASED PAPER 80% or l e s s 81/o to 90% 91% to 100% 101% to 110% Over 110% Total 11*. 2 3.6 3.3 0.9 O.lt Ik. 3 3.1* 3.1 0.7 0.5 22.1* 22.0 li.3 3.5 t*.3 1.5 0.6 5.1* 3.1* 3.9 1.7 11*. 2 11*. 9 13.6 11*. 9 21.5 8.9 lt.1* 15.0 13.9 20.3 8.9 lt.7 _JL 63.3 62.8 0.1 * * 0..1 * 0.1 0.1 0.1 0.3 32.1 22.0 29.2 H.3 5-1* 3U.7 20.8 27.1* 11.1* 5-7 100.0 100.0 53.8 18.3 19.9 5.7 51.1 23.2 17.9 5.1 DIRECT LOANS 80% or l e s s 81% to 90% 91% to 100% 101% to 110% Over 110# 31.0 32.7 8.6 8.2 6.2 5.9 2.0 2.0 _0 sSL. 9i3_ Total 50.0 1*7.8 80% or l e s s 81% to 90% 91% to 1 0 0 % 1 0 1 % to 1 1 0 % Over 110% 18.9 It. 8 k.l 1.2 0.5 18.7 It. 7 3.9 1.1 0.1* Total 29.5 28.8 9 . 6 11.8 8.2 It. 3 6.9 7.0 1.1* 1.1 0.1* 0.3 11.2 5.8 6.8 2.6 1.1 8.3 6.1* - 5.0 1.7 hi 0.3 * * * * * * 28.8 27.5 23.3 0.3 0.1 100.0 100.0 0.1 CLl 37.6 21.1 26.8 9.9 1*.6 39.0 21.1* 21*. 9 9.8 lt.9 0.2 100.0 100.0 22.2 «• TOTAL 5.6! 3.7 l*.9i 1.1* 0.5 16.1 7.1' It. 7 lt.7 1.6 0^3 18.6 13.0 12. £ 17.8 7.3 3.6 13.2 12.0 16.3 7.0 0.1 51*. 3 52.1* 0.1 L # Less than one-tenth o f one per cent. . NOTE: Distributions are based on tabulations of data from 83 banks f o r September and October and are not intended to be estimates for a l l commercial banks. In October reports covered about 12,000 contracts on new cars, 9,000 purchased and 3,000 d i r e c t . Since composition of the group of banks changes from TOnth to month, data are not comparable with previous releases. Not f o r publication L.4.2 DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) OCTOBER 1958 AND SEPTEMBER 1958 USED CARS Contract'balance as percentage of wholesale value l / 2 / (Percentage d i s t r i b u t i o n of contracts) Maturities Over 24 19-24 12 months 13--16 months months or l e s s months Oct. Sept. Oct. ISept. Oct. ISept. Oct. |[Sept. Total Oct. I[ S e p t . PURCHASED PAPER 80% or l e s s 81% to 90# 91% to 100# 101% to 110% Over 110% Total 4.1 1.2 2.5 2.0 .JL2 5.0 1.5 2.7 2.2 2.6 5.2 2.7 4.0 2.7 3.2 5.0 2.8 4.1 2.8 3.8 8.2 7.6 11.9 8.2 8.0 8.1 3.6 7.4 / 4.8 11.3 9.0 5.0 9.1 4.2 7.8 3.7 3.8 7.6 5.1 3.6 21.1 16.3 27.4 17.9 JI-3 21.8 15.5 25.7 19.2 17.8 11.7 14.0 17.8 I8.5 43.9 43.7 26.6 23.8 100.0 100.0 DIRECT LOANS « 80% or l e s s 81% to 90% 91% to 100% 101% to 110% Over 110% Total 15.4 2.1 2.6 0.7 0.8 15.2 2.7 3.3 0.7 1.4 13.2 4.1 6.2 1.3 1.4 15.1 4.5 5.3 1.5 1.2 18.2 10.1 10.7 2.0 2.2 14.4 10.9 ?.i 4.1 2.6 2.8 2.1 1.8 1.1 1.2 2.2 1.2 2.0 1.8 0.8 49.6 18.4 21.3 5-1 5.6 46.9 19-3 19.7 8.1 21.6 23.3 26.2 27.6 43.2 4l.l 9.0 8.0 100.0 100.0 8.0 1.5 2.5 1.6 1.5 8.4 1-9 2.9 1.7 2.2 7.8 3.2 4.7 2.3 2.6 8.4 3.3 ^•5 2.4 2.9 11.6 8.5 11-5 6.0 6.0 10.2 8.6 10.6 7A 6.0 3.3 6.6 3-7 3.2 3.2 3.0 5.7 4.0 2.7 30.7 17.1 25.3 J.3.6 13.3 30.2 16.8 23.7 15.5 13.8 15.1 17.1 20.6 21.5 43.6 42.8 20.7 18.6 . 100.0 100.0 TOTAL 80% or l e s s 81% to 90% 91% to 100% 101% to 110% Over 110% Total 1/Contract "balance does not include finance and insurance charges. 2/Wholesale value represents "average wholesale," "as i s " "or buying value" as indicated by used car guides. NOTE: D i s t r i b u t i o n s are based on tabulations of data from 83 banks f o r September and October and are not intended to be estimates f o r a l l commercial banks. In October reports covered about 13,000 contracts on used cars, 9,000 purchased and 4,000 d i r e c t . Since composition of the group of banks changes from month to month, data are not comparable with previous r e l e a s e s .
@FedFRASER