Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : February 6, 1959

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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

February 6, 1959
MATURITIES ON AUTOMOBILE INSTALMENT LOANS
NOVEMBER 1958 AND DECEMBER 1958

MCOHTBOLXm i l t r a S K ^

Maturities

a i e t r i b u t l c n of c o n t r a c t s )

r o a n t a g e

Dec.

Total

Nov.

Direct
Purchased
loans
Paper
Nov.
Dee. - - - Nov.— .. Dec.

34.4
15.5
49.7
' 0-4
I00T0

32.2
15.1
52.4
__0.3
100.0

26.9
13.1
59-5
0.5
100.0

Used c a r s l /
12 months or l e s s
13-18 months
19*924 months
Over 24 months
Total

18.3
19.3 .
40.2
22.2
100.0

18.0
20.1
41.7
20.2
100.0

13.2
16.1
41.6

-29jl
100.0

24.4
13.0
62.2
0.4
100.0

48.1
19.8
32.0
0.1
100.0

48.4
19.5
32.0
0.1
100.0

VO 0 CO VOIO

New cars
24 months o r l e s s
25-30 months
31-36 months
Over 36 months
Total

27.3
25.1
37.7
_2i2
100.0

26.0
27.4
38.0
8.6
100.0

l / Figures a r e predominately f o r l a t e model used cars "but include 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 a r e based on t a b u l a t i o n s of d a t a from 137 banks f o r
November and December and a r e n o t intended t o be estimates f o r a l l commercial
banks. I n December r e p o r t s covered about 28,000 c o n t r a c t s on new c a r s , 18,000
purchased and 10,000 d i r e c t , and 21,000 c o n t r a c t s on used c a r s , 14,000 purchased
and 7,000 d i r e c t . Since composition of the group of banks changes from month
t o month, data a r e n o t 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 p e r centage of d e a l e r c o s t , see following pages.




Not f o r publication
L.U.2

DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
DECEMBER 1958 AND NOVEMBER 1958
NF!-' CARS

Contract balance
as percentage of
dealer cost 1 /

(Percentage.distribution of contracts)
Maturities
•Over 36
2k months'; • 25-30
31-36 f
or l e s s
months
months
months
Dec. | Nov. Dec. I Nov. Dec. j Nov. Dec. | Nov.

Total
Dec. | Nov.

,'URCHASED PAPER
80% or l e s s
16.1
81% to 90%
3.9
91% to 100% • 4.7
101% to 110%
1.3
Over 110%
0.6
Total

13.9
h. 2
4,2
1.1
0.5

3.7 ' 4 . 3
2.8
2.7
ii.l
4.5
2 . 1 1.9
0.8
0.5

12.1
12.8
20.3
9.3
4.7

12.7 * '
31.9 '30.9
*
20)2 \
13.2 0 . 1
19.5
0
.
1
.
21.3 . 0 . 2 .
•29.7, 29.-7.
0.1
12; 8 13.4
10.3 0 . 1
*
h. 8
5.8Al

23.9

13.& , 13.6

59.2

62.3 : 0.4

30.3 33.0
9.7
9.3
5.3 • 5.9
2.6
1.2
1.6
0.5

10.6 10.7
6.1
4.7
5.-3 . 6.8
1.1
1.1
0..6 0.3

9.8
6.4
6.7
2.8
1.0

23.6

26.7

26.6

0.2

.100.0

100.0

50.7
22,2
17.4
6.5
3.2

55.0
21.0.
.18,8
4.0
1.2

100.0

100.0

DIRECT L0A1•JS
80% o r l e s s
81% to 90%
91% to 100%
101% to 110%
Over 110% .
Total

19.5

19.9

23.7

*
11.3
7.0 . *
6.0 0 . 1
1.7 . *
*
0.4

0.1

0.1

0.1

11.4 12.3 *
10.8 11.5 . 0 . 1
16.1 17.0 . 0.2;
7.2
*
7.9
3.6 J L
3.5

0.1

26.4

*
*
*
*

TOTAL
80% or l e s s
8-1% to 90%
91%-to 100%
101% to 110%
. Over 110%
Total

20.5
5*7
4.9
1.7
0.9

19.2
5.6
14.7
1.2
0.5

5.9
3.7
1.7
1.9
0.8

6.1
3.3
4 .9
1.7
0.4

33.7

31.2

17.0

16.4

49.0

52.3

0.3

*
*

*
*

0.1

37.8
•20.3
25.9
10.8
5.2100.0

37.6
20.4
26.7
10.8 •
4.5
100.0

* Less than one-tenth of one per cent.
NOTE: Distributions are based on tabulations of data from 81 banks f o r
November and December and are not intended to be estimates f o r a l l commercial
banks, i n December reports covered about lit,000 contracts on new c a r s , 10,000
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 releases#




t
•Not f o r publication
L. I*. 2

- 3 , DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS (continued)
DECEMBER 1958 AND NOVEMBER 1958
USED CARS

Contract balance
12 months
as percentage of
or l e s s
wholesale value 1 / 2 / Dec. I Nov.

Matui r i t i e s
.. 13-18
Over 21t
19-2U
months
months
months
Dec. 1 Nov. Dec. 1 Nov. Dec. | Nov.

TO TAX

Dec. | Nov.

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

it. 3
l.it
2.2

9.it
6.9
9.9
8.6
7.1

10.1
7.6
11.5
8.2
8.it

lit. 3 itl.9

it5o8

it.l

5.2
2.3
2.9
1.9
2.7

it. 8
5.1
8.9
5.6
it. 6

2k. 6
16.3
2it.it
18.2
16.5

22.9
l6.it
25.2
18.2
17.3

32.1 29.0

100.0

100.0

1.6

3.9
1.2
1.9
2.1
1.8

11.0

10.9

15.0

I6.lt
2.7
2.8
1.1
1.0

15.6
2.6
3.0
0.8
l.it

13. hi 16.1 16.0
3.6
it. 8 7.6
It. 9 5.8
8.3
1.6
1.3
3.2
1.0
l.it
3.1

llt.l
•8.3
10.3
it.it
2.0

it. 3
1.7
2.2
2.9
1.8

2. it
1.7
2.7
0.8

50.1
15.6
18.2
8.8
7.3

it8.2
17.it
21.8
7.3
5.3

2U.0

23.lt

2lu9

39.1 12.9

8.5

100.0

100.0

11.5
5.2
7.8 . it. 2
11.1 6.8
6.9
5.0
6.2
5.6.
3.8

it.0
6.7
3.9
3.3

it.o

3it.O
-16.1
22.1
lit. 7
13.1

31.7
16.7
2it.O
lit.it
13.2

25.0

21.9

100.0

100.0

1.5

2.5

2.9
2.3
2.5

5.7
5.7
9. it
6.2
5.1

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

29.0

38.2

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

8.8
1.8
2.it
l.it

l.h

7.9
1.7
2.3
1.6
1.7

8.2
2.9
3.6
1.7
2.3

15.8

15.2

18.7

:

8.3
3.2
3.9
2.0
2.0

11.8
7.2
9.3
6.6

19.it

ito.5

13.5

2/Wholesale value represents "average wholesale," "as
as indicated by used car guides.
NOTE: Distributions are based on tabulations of data
November and December and are not intended to be estimates
I n December reports covered about 10,000 contracts on used
and it, 000 d i r e c t . Since composition of the group of banks
month, data are not comparable with previous r e l e a s e s .




i s , " "or buying value"
from 81 banks f o r
f o r a l l commercial banks#
c a r s , 6,000 purchased
changes from month to