Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : December 14, 1962

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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.4.2

December 14, 1962.
°N

DECONTROLLED

*»<*»»**?»>»* .

OCTOBER 1962 AND SEPTEMBER 1962
(Percentage d i s t r i b u t i o n of c o n t r a c t s )
Maturities
New c a r s
24 months or l e s s
25-30 months
31-36 months
Over 36 months
Total
Used c a r s _1/
12 months or l e s s
13-18 months
19-24 months
Over 24 months
Total

Total

Purchased
paiper
Sept.
Oct.

Oct.

Seot.

25.2
6.6
67.8
0.4

21.0
6.7
71.9
0.4

19.5
5.2
74.8
0.5

100.0

100.0

16.2
14.8
38.4
30.6
100.0

17.7
16.7
38.9
26.7
100.0

Direct
loains
Sept.
Oct.
38.0
9.8
52.0

32.9
11.5
55.4
0.2

100.0

16.4
4.9
78.2
__0J.
100.0

100.0

100.0

12.8
12.8
37.3
-2M
100.0

13.5
15.2
38.8
32.5
100.0

22.3
18.3
40.3
19.1
100.0

26.5
19.7
39.2
14.6
100.0

IV Figures a r e predominantly f o r l a t e model used c a r s but i n c l u d e d a t a
from a few banks f o r a l l used c a r s .
NOTE:--Distributions a r e based on t a b u l a t i o n s of d a t a from 125 banks f o r
September and October and a r e not intended t o be e s t i m a t e s f o r a l l commercial
banks. In October r e p o r t s covered about 42,000 c o n t r a c t s on new c a r s , 29,000
purchased and 13,000 d i r e c t , and 24,000 c o n t r a c t s on used c a r s , 15,000
purchased and 9,000 d i r e c t . Since composition of the group of banks changes
from month t o month, d a t a a r e not 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 according t o m a t u r i t i e s and c o n t r a c t balances
as a percentage of d e a l e r c o s t see f o l l o w i n g pages.




Z23

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

- 2 -

L.4.2

DEAL3R COST PATIOS Arm MAPURITIES
ON AUTOMOBILE INSTALMENT LOANS
OCTOBER 1962 AND S5FT3'B3R 1962
N

CARS

( P e r c e n t a g e d i s t r i b u t i o n of c o n t r a c t s )
Contract balance
a s p e r c e n t a g e of
dealer cost l /

24 months
or l e s s
Oct. |Sept.

Maturities
25-30
31-36
months
months
Oct. 1 Sept. 1 Oct; I Sept.

Over 36
months
Oct. I Sept.

Total
Oct. | Sept.

PURCHASED PAPER
80io o r l e s s
81# t o 90#
91# t o 100#
101# t o 110#
Over 110#
Total
80# or l e s s
81# t o 90#
91# t o 100#
101# t o 110#
Over 110#
Total

11.7
2.8
3-1
/g.9
$.4

10.4
2.9
2.3
0.6
0.4

2.2
1.2
1.0
0.4
0.2

2.1
1.2
1.1
0.6
0.1

17.4
17.4
23.3
12.1

18.9

16.5

4.9

4.9

75-6

20.6
6.0
10.4
1.5
M
39.0

18.0
4.8
7.6
1.1
Oil
31.8

3.8
2.4
6.2
0.8
M
13.4

13.9
3.6
5.0
1.0
0.5

12.1
3.3
3.5
0.7
0.4

2.6
1-5
2.3
0.5
0,2

2-7
1.4
2.2
0.7
oa

24.0

19.9

7-1

7.0

17.0
17.7
26.3
12.6
- M
78.1

0.2
0.1
0.2

0.1
0.1
0.2

Oil

M
0.5

0.6

DIRECT LOANS
13.2 16.1
5.0
9 . 4 10.0
2.3
6.1
17.6 18.9
0.9
5.0
5.2
2.2
Oil

0.2

0.2

0.1

0.1

14.4

53.3

0.3

0.4

0.2
0.1
0.1

0.1
0.1
0.2

J h l

16.8
16.0
24.7
11.0
4.2

0.1

OJL

68.5

72.6

0.5

0.5

47.3

31.5
21.5
27.6
13.4
6.0

29.5
21.8
29.9
13.9
M

100.0 100.0
37.8
17.7
34.1
7.3

39.2
17.1
32.6
7.2
-id
100.0 100.0

TOTAL80# o r l e s s
81# t o 90#
91# t o 100#
101# t o 110#
Over 110#
Total

16.4
15.4
21.9
10.3

33-1 3 1 . 6
20.5 20.7
29.3 30.5
11.9 1 2 . 4
- i d Jhl
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 n 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 .
N O T E : — 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 of d a t a from 67 banks f o r September
and October 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 b a n k s . I n
October r e p o r t s c o v e r e d about 21,000 c o n t r a c t s on new c a r s , 16,000 p u r c h a s e d and
5,000 d i r e c t . S i n c e c o m p o s i t i o n of t h e group of 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 .
D e t a i l s may n o t add t o t o t a l s b e c a u s e of r o u n d i n g .




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

- 3 DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS (continued)
OCTOBER 1962 AND SEPTEMBER 1962
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 )

Contract balance !
as percentage of
wholesale v a l u e l / 2j

Maturities
13-18
12 months
j
19-24
1
months
or l e s s
months
Oct. 1 Sept. Oct. 1 Sept. 1 Oct. i Sept.

;

Over 24
months
Oct. 1 Sept.

Total

p

Oct. 1 Sept.' >
' f

PURCHASED PAPER
80% or l e s s
817. t o 907=
91% to 100%
1017, t o 110%
Over 110%
Total

4.8 1 4 ' 2
2.0
1.8
2.7
2.9
1.4
2.1
2.7
2.2
13.0

*3.6

2.9
1.6
2.8
1.8
3.6

3.0
2.3
3.2
2.2
3.6

6.5
6.6
9.2
7.6
10.9

6.1
6.6
8.8
7.0
10.6

3.8
4.0
8.3
6.4
11.1

4.1
3.7
7.4
6.7
11.1

18.0
14.0
23.2
17.1
27.7

17.4 1
14.6
22.0
18.0
28.1 ;

12.6

14.3

40.8

39.1

33.6

32.9

100.0

100.0 ;•

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

13.0
2.1
5.5
2.1
1.0

12.6
3.6
6.7
2.5
2.0

7.8
2.6
6.3
2.3
2.1

7.7
2.7
6.7
2.5
2.0

11.9
7.8
13.0
4.3
3.6

11.5
8.0
10.1
5.1
4.3

5.2
2.2
4.2
1.7
1.4

3.2
2.1
3.4
1.3
2.1

37.8
14.7
29.0
10.4
8.1

35.p;
16.3 •
26.8 t,
11.5
10.4

23.6

27.4

21.1

21.5

40.7

39.0

14.6

12.1

100.0

100.0 t
L

TOTAL
80% or l e s s
81% t o 90%
91% t o 100%
101% to 110%
Over 110%

6.7
2.5
3.9
2.2
2.5

4.5
1.9
4.0
2.0
3.1

4.4
2.4
4.2
2.3
3.1

8.3
7.0
10.4
6.5
8.4

7.7
7.0
9.1
6.4
8.7

4.3
3.4
6.9
4.8
7.8

3.8
3.2
6.1
5.1
8.4

24.6
14.2
25.1
14.8
21.1

16.5

17.7

15.4

16.4

40.7

39,0

27.1

26.6

100.0

22. 6
15.0
23.3
16.0
22.7

1/ Contract balance does not i n c l u d e f i n a n c e and insurance charges.
2/ Wholesale v a l u e r e p r e s e n t s "average w h o l e s a l e , " "as i s , " or "buying v a l u e "
as i n d i c a t e d by used c a r g u i d e s .
N O T E - 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 of data from 48 banks f o r
September and October and a r e not intended t o be e s t i m a t e s f o r a l l commercial banks.
In October r e p o r t s covered about 10,000 c o n t r a c t s on used c a r s , 7,000 purchased and
3,000 d i r e c t . Since composition of the group of banks changes from month t o month,
d a t a a r e not comparable w i t h previous r e l e a s e s ,
D e t a i l s may not add t o t o t a l s because of rounding.




}
t
*
[
f

I

Total

7.5
1.9
3.8
1.6
1.7