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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM January 18, 1971 PIT, DIRECT A U T O LOANS W COMMERCIAL BANKS " November 1970 October 1970 Three months ending November* 1970 I 1969 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 26.4 6.5 27.6 5.7 0.4 0.3 0.5 89.5 89.2 87.4 26.9 6.7 27.1 66.1 66.0 0.4 89.7 6. 6 66.8 66.1 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 20.7 15.6 34.2 29.5 18.1 18.8 14.7 35.6 14.7 35.6 30.8 31.6 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. _99.6 15.9 12.9 36.1 35.0 • 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 __ 13.2 3.6 81.6 1.6 13.3 3. 1 82.3 1.2 12.9 3.2 82.4 1.4 13.0 2.9 82.7 1.4 92.9 92.2 92.7 92.0 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 16.2 11.4 29.2 43.2 14.4 11.5 30.0 44.1 15.0 11.4 29.8 43.8 10.0 9.7 32.4 48.0 96.8 97.5 97.3 97.3 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. (/!(• L .4.2 r -3DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS NOVEMBER 1970 A N D OCTOBER 1970 NEW CARS """ (Percentage distribution of contracts) Contract balance as percentage of 24 months dealer cost 1/ Oct. 25-30 months Nov. 1 Oct. Maturities Over 36 31-36 months months Nov. I Oct. Nov. 1 Oct. Total 1 Oct. PURCHASED PAPER 80% or less 817= to 90% 91% to 100% 101% to 110% Over 110% Total 7.9 2.2 2.5 0.8 0.6 7.9 1.9 1.9 1.0 0.8 1.7 1.0 1.2 0.5 0.2 1.0 0.9 0.9 0.5 0.2 15.3, 17.8 24.1 14.6 8.2 17.7 17,. 9 24.8 13.8 7.8 0.2 0.2 0.5 0.3 0.1 0.1 0.2 0.5 0.2 0.1 25.1 21.2 28.4 16.1 9.2 26.7 20.9 28.1 15.5 8.8 14.0 13.4 4.7 3.5 80.0 82.1 1.3 1.1 100.0 100.0 0.4 0.1 36.0 19.8 26.6 6.7 5.4 34.3 21.6 27.8 6.9 5.3 100.0 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 13.5 5.2 5.1 0.8 1.1 12.4 5.3 5.0 1.0 1.2 2.9 1.3 1.9 1.2 0.2 2.5 1.9 1.7 1.1 0.4 19.2 13.3 19.6 4.6 4.0 19.2 14.4 20.9 4.8 3.7 0.1 0.2 0.1 0.1 0.1 0.1 27.3 25.8 7.9 7.8 64.1 65.8 0.7 0.6 100.0 9.2 . 9.0 2.9 2.7 2.6 3.1 0.8 1.0 0.9 0.7 2.0 1.1 1.4 0.7 0.2 1.4 1.1 1.1 0.6 0.2 16.3 16.7 23.0 12.2 7.2 18.1 17.0 23.9 11.6 6.8 0.2 0.2 0.4 0.2 0.1 0.1 0.2 0.4 0.2 0.1 27.7 20.8 27.9 13.9 8.3 16.5 5.4 4.6 76.2 78.1 1.2 0.9 100.0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 17.2 28.6, 21.0 28.0 13.4 8.0 100.0 ^/Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for November and October are derived from reports of 102 banks, 52 of which reported dealer cost ratios as well as maturities. The November maturity distribution for new cars shown on pages 1 and 2 is based on 26,000 contracts, 18,000 purchased and 8,000 direct. The 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. 'OCb L.4.2 -4DEALER COST RATIOS A N D MATURITIES ON A U T O M O B I L E INSTALMENT LOANS (continued) NOVEMBER 1970 A N D OCTOBER 1970 USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1121 12 months Nov. 1 Oct. 13-18 months N o v . 1 Oct. Maturities 19-24 Over 24 months months 1 Oct. Nov. 1 Oct. Total Nov. 1 Oct. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 4.5 1.7 7.3 1.4 2.0 3.9 1.6 6.5 1.2 2.1 2.3 1.9 2.1 1.8 2.6 2.4 1.8 2.0 2.1 2.6 5.1 5.0 6.7 4.2 7.7 5.2 4.8 6.2 4.5 9.0 4.8 7.0 9.9 9.3 12.7 5.6 5.7 10.7 9.3 12.7 16.7 15.6 26.0 16.7 25.0 17.0 13.9 25.4 17.2 26.5 16.9 15.4 10.6 10.9 28.7 29.6 43.8 44.1 100.0 100.0 D I R E C T LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 8.1 4.1 6.0 1.3 2.4 7.2 4.0 4.3 1.3 3.2 5.5 2.3 6.0 1.0 2.5 5.8 2.6 4.5 1.1 2.4 10.7 7.2 11.4 3.2 3.8 11.2 7.9 11.6 3.9 4.0 7.8 4.4 6.9 2.9 2.4 7.3 4.4 7.6 3.3 2.4 32.1 18.0 30.3 8.4 11.2 - 31.5 18.9 27.9 9.6 12.0 22.0 19.9 17.3 16.4 36.3 38.6 24.5 25.0 100.0 100.0 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 5.6 2.5 6.9 1.4 2.2 4.9 2.4 5.8 1.2 2.5 3.3 2.0 3.3 1.6 2.6 3.5 2.0 2.8 1.8 2.5 6.8 5.7 8.2 3.9 6.4 7.0 5.8 7.9 4.3 7.5 5.8 6.2 9.0 7.3 9.5 6.1 5.3 9.7 7.5 9.5 21.5 16.3 27.4 14.1 20.7 21.5 15.4 26.2 14.8 22.0 18.5 16.8 12.7 12.6 31.1 32.4 37.7 38.1 100.0 100.0 1/Contract Balance excludes finance and insurance charges. 2/Wholesale value represents "average wholesale," "as is," or "buying value" as indicated by used car guides. NOTE: Distributions for November and October are derived from reports of 102 banks, 48 of which reported dealer cost ratios as well as maturities. The November maturity distribution for used cars shown on pages 1 and 2 is based on 20,000 contracts, 13,000 purchased and 7,000 direct. The cross-classification on this page is based on 9,000 contracts, 6,000 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.
@FedFRASER