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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM L .4.2- February 10, 1971 cX /Uw, \PECONTKOLLED AFTER., sfl M O O T S DIRECT A U T O LOANS^BirCOMMERCIAL BANKS V December 1970 November 1970 Three months ending December* NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 27.6 6.8 65.1 0.5 27.0 6.7 65.9 0.4 27.2 6.7 65.7 0.4 28.2 5.6 65.8 0.4 88.3 90.1 89.0 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 . 20.1 ,15.4 32.8 31.8 20.8 15.5 34.1 29.6 19.6 15.2 34.2 31.0 16.2 12.7 35.8 35.1 88.0 90.5 89.2 89.3 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. u4 L.4.2 -2DEALER A U T O 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 Contracts written 12.9 3.2 82.4 1.4 13.2 3.6 81.8 1.5 13.1 3.3 82.1 1.4 13.8 3.3 81.6 1.6 93.2 92.9 92.8 92.0 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 16.2 11.2 28.9 43.8 16.4 11.3 29.3 43.1 15.6 11.3 29.3 43.9 10.0 9.7 31.9 48.4 97.0 96.8 97.2 97.0 Ail used car contracts: Median loan/value ratio "Unweighted arithmetic mean of the three monthly ratios. Details may not add to totals because of rounding. f L.4.2 -3DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS DECEMBER 1970 A N D NOVEMBER 1970 NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ Maturities 31-36 Over 36 months months Dec. I Nov. D e c . 1 Nov. 24 months or less Dec. | Nov. 25-30 months D e c . 1 Nov. 7.0 1.8 2.4 1.1 0,9 7.9 2.2 2.5 0.8 0.6 0.7 0.9 0.8 0.7 0.2 1.7 1.0 1.2 0.5 0.2 15.5 15,3 17.4 " 17.8 25 .2 24.1 15 .1 14.6 8.8 8.2 0.1 0.2 0.8 0.3 0.1 0.2^ 0.2 0.5 0.3 0.1 Total 13.2 13,9 3.3 4.6 82.0 1.4 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 13.5 5.1 4.9 1.3 1.2 13.3 5.2 5 .0 0.8 1.1 2.9 1.3 1.5 1.7 0.3 , 2.8 1.2 1.9 1.2 0.2 19.7 14.6 18.5 3.9 3.1 18.9 13.0 19.2 4.5 4.0 0.3 0.1 0.2 Total 27.7 27.3 8.0 8.0 63.6 64.0 8.5 2.6 3.0 1.1 1.0 9.2 2.9 3.1 0.8 0.7 1.3 1.0 1.0 0.9 0.2 2.0 1.1 1.3 0.7 0.2 16.5 16.7 23.6 12.4 7.5 L6.7 17.1 4.4 5.4 77.7 Total Dec. 1 Nov. PURCHASED PAPER • 80% or less 81% to 90% • 91% to 100% W101% to 110% 4.;.. Over 110% g: ; 25.0 21.1 28.2 16.1 9.2 1.3 100.0 100.0 * 0.4 0.1 * * 0.1 36.3 21.0 25.2 6.9 4.6 35.4 19.5 26.0 6.5 5.3 0.7 0.7 100.0 100.0 16.2 16.6 22.9 12.1 7.2 0.2 0.20.6 0.2 0.1 0.2 0.2 0.4 0.2 0.1 26.5 20.4 28.2 14.7 8.7 27.6 20.7 27,7 13.8 8.3 76.3 1.2 1.2 100.0 100.0 80.2 DIRECT LOANS 6' \ .23.4 20.3 29.2 17.2 10.0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% To ta 1 1/Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for December and November are derived from reports of 100 banks, 50 of which reported dealer cost ratios as well as maturities. The December maturity distribution for new cars shown on pages 1 and 2 is based on 24,000 contracts, 16,000 purchased and 8,000 direct. ^TJie cross-classification on this page is based on 12,000 contracts, 9,000 purchased and 3,000 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 -4D E A L E R COST R A T I O S A N D M A T U R I T I E S ON A U T O M O B I L E INSTALMENT L O A N S (continued) 1970 A N D N O V E M B E R 1970 DECEMBER 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 w h o l e s a l e value 1/2/ 12 m o n t h s Dec. | Nov. 13-18 months | Nov. Maturities 19-24 Over 24 months months I Nov. Dec. I Nov. Total Dec. I Nov. PURCHASED PAPER 8 0 % or less 81% to 90% 91% to 100% 101% to 110% Over 110% 4.4 1.6 6 .6 1.2 2.2 4.4 1.7 7.3 1.4 2.0 2.1 1.7 2.0 1.8 2.3 2.3 1.9 2.0 1.8 2.6 Total 16.1 16.8 9.8 10.7 80% or less 8 1 % to 90% 91% to 100% 101% to 110% Over 110% 10.1 5.1 4.2 1.6 2.4 8.0 4.1 6.0 1.3 2.4 5 .8 2.5 4.3 1.0 2.2 5.4 2.2 5.9 1.0 2.4 23.3 22.2 15.8 17.3 6.2 2.7 5.9 1.3 2.3 5.6 6.9 1.3 2.1 3.3 1.9 2.7 1.5 2.2 3.3 2.0 3.3 1.5 2.6 18 .4— 18.5 11.7 12.8 | 4.8 5.1 7.1 5.1 7 .5 29.5 5.1 5.0 6.7 4.2 7.6 4.9 7.1 10.3 9.2 13.0 4.9 7.0 10.0 9.3 12.7 16.2 15.5 26.0 17.3 25.0 16.7 15.6 26.1 , 16.7 ' 24.9 28.7 44.6 43.8 100.0 100.0 D I R E C T LOANS Total 11.0 6 .4 11.3 2.8 3.0 10.4 6.9 11.2 3.2 3.7 7.5 5.6 6 .6 3.3 3.4 7.7 4.3 6.7 2.8 2.4 34.4 19.6 26.5 8.6 11.0 31.5 17.6 29.7 8.2 : i II.O | 34.4 36.2 26.4 24.3 100.0 IOO.O ! 5.7 6 .6 9.2 7.4 10.0 5.8 6.2 8.9 7.3 1 16-2 27.2 & ; 14.0 C 9.4 21.9 16.8 26.2 14.6 20.6 21.4 5.5 8.4 4.3 6.1 6.8 5.6 8.2 3.9 6.4 20.5 % 31.0 31.1 37.6 100.0 100.0 | TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 2.4 6.7 f 38.9 1/Contract balance excludes finance and insurance c h a r g e s . 2/Wholesale value represents "average w h o l e s a l e , " "as is," or "buying v a l u e " as indicated by used car g u i d e s . | $ \ NOTE: D i s t r i b u t i o n s for D e c e m b e r and November are derived from reports of 100 banks, 4 6 of which reported dealer cost ratios as w e l l as m a t u r i t i e s . The D e c e m b e r maturity d i s t r i b u t i o n for used cars shown on pages 1 and 2 is based on 21,000 contracts, 13,000 purchased and 8 , 0 0 0 d i r e c t . The c r o s s - c l a s s i f i c a t i o n on this page is based on 9 , 0 0 0 contracts, 6 , 0 0 0 purchased and 3 , 0 0 0 d i r e c t . The data are not intended to be e s t i m a t e s for all c o m m e r c i a l banks and are not comparable w i t h previous releases since c o m p o s i t i o n of the group of banks changes from month to m o n t h . \ D e t a i l s may not add to totals because of r o u n d i n g .
@FedFRASER