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W BOARD OF ^ TH E FEDERAL RESERVE SYSTEM LIBRARY L.4.2 January 24, 1969 J Al". DECONTROLLED U-»d bank OF RICHMOND LoouGoyuu^Axjj) -DiREd'i" AUTO LOANS B Y COMMERCIAL BANKS NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 26.9 5.9 66.9 0.3 27.4 6.0 66.3 0.3 26.8 5.9 67.0 0.3 28.9 6.2 64.2 0.7 80.2 80.5 80.7 86.1 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 15.2 12.7 37.4 34.7 16.6 12.7 37.6 33.1 16.2 12.8 37.2 33.8 17.8 13.0 37.0 32.2 83.3 83.3 83.0 88.7 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. sir L.4.2 -2DEALER AUTO 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 14.6 3.4 80.3 1.7 14.0 3.2 81.4 1.4 13.5 3.3 81.7 1.5 15.4 3.2 80.3 1.1 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 9.7 8.6 30.1 51.6 10.0 8.7 30.8 50.5 9.9 9.1 31.1 49.9 9.3 9.0 30.0 51.7 97.9 96.5 97.5 97.2 All used car contracts: Median loan/value ratio ^Unweighted arithmetic mean of the three monthly ratios. 51 (o L.4.2 -3DEALER COST 'RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS NOVEMBER 1968 AND OCTOBER 1968 NEW CARS (Percentage distribution of contracts) Contract balance percentage of dealer cost 1/ 24 months or less Nov. Oct. 25-30 months Nov. 1 Oct. Maturities Over 36 31-36 months months Nov. 1 Oct. Nov. 1 O c t . Total Nov. 1 Oct. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.1 1.7 2.9 0.8 _0A 7.9 1.7 2.1 0.7 0.5 1.1 0.6 1.0 0.3 _0^2 0.1 0.1 0.8 0.1 _LZ 21.2 16.2 24.6 12.8 8.2 0.2 0.1 0.4 0.2 _QA 29.7 17.9 31.1 12.8 8.5 -0J, Total 13.9 12.9 3.2 3.0 81.6 83.1 1.3 1.0 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 14.7 4.5 5.3 0.9 _0^ 16.3 5.1 4.2 0.8 0.5 3.2 0.9 2.1 0.2 joa 2.5 1.2 1.7 0.2 0.3 32.9 33.5 10.5 9.8 15.9 17.2 3.6 • 4.1 2.4 0.1 0.1 0.2 0.1 0.1 51.5 16.1 24.8 4.8 0.1 0.1 51.9 16.2 22.0 5.2 4.7 25.7 27.1 6.5 5.8 67.4 66.7 0.4 0.4 100.0 ibo.o 24.4 14.5 22.2 10.4 0.2 0.1 0.3 0.2 0.1 36.1 17.4 29.3 10.4 6.8 36.4 17.9 26.3 11.6 7.8 0.8 100.0 100.0 1.1 20.4 0.5 . 15.5 0.9. 26.3 0.3 11.6 30.5 18.6 27.9 14.0 _ M DIRECT LOANS Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 10.1 2.5 3.6 0.8 0.4 17.4 _2JJL 1.7 0.7 1.3 0.3 . 0.1 1.5 0.7 1.1 0.3 0.2 24.2 14.0 23.6 9.3 _6^2 _ M 0.1 0.1 0.6 0.1 0.1 16.8 4.1 3.7 77.5 78.7 1.0 10.2 2.6 2.7 0.7 1/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 106 banks, 67 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 36,000 contracts, 24,000 purchased and 12,000 direct. The cross-classification on this page is based on 19,000 contracts, 13,000 purchased and 6,000 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. 5i7 .L.4.2 -4DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) NOVEMBER 1968 AND OCTOBER 1968 USED CARS (Percentage distribution of contracts) Contract balance as percentage of 12 months or Nov. I Oct. 13 -18 months Nov. 1 Oct. Maturities 19 -24 Over 24 months months Nov. 1 Oct. Nov. 1 Oct. Total I Oct. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 3.6 1.3 1.7 1.0 1.9 3.8 1.5 1.6 1.0 1.9 1.9 1.5 1.9 0.9 2.2 2.2 1.7 1.7 1.0 2.5 5.7 5.6 5.6 4.1 9.3 6.2 5.5 6.1 4.3 8.2 6.5 7.8 11.1 9.4 17.0 6.2 10.2 10.3 9.5 14.5 17.7 16.3 20.3 15.4 30.3 18.4 18.9 19.7 15.8 27.2 9.4 9.8 8.4 9.0 30.3 30.4 51.9 50.8 100.0 100.0 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 9.5 1.6 3.8 1.0 0.6 11.0 1.4 3.3 1.2 1.6 7.1 1.3 4.2 0.9 1.0 6 .4 1.3 16.0 4.8 15.9 4.3 13.5 3.8 13.4 3.0 10.0 3.5 3.7 10.6 3.2 3.0 8.2 2.1 3.3 7.1 2.5 3.8 46.2 11.5 26.2 7.5 8.6 46.7 10.0 4.3 0.9 1.9 16.6 18.4 14.4 14.7 38.2 37.0 30.8 29.9 100.0 100.0 25.3 7.7 10.3 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 5.5 1.4 2.4 1.0 1.5 6.1 1.5 2.1 1.0 1.8 3.6 1.5 2.6 0.9 1.8 3.5 1.6 2.5 0.9 2.3 9.0 5.4 7.0 3.9 7.5 9.2 5.1 7.5 3.9 6 .6 8.7 6.5 10.2 7.1 12.6 8.5 7.9 9.3 7.3 11.1 26.8 14.7 22.2 12.9 23.4 27.3 16.1 21.5 13.3 21.8 11.7 12.5 10.3 10.8 32.8 32.4 45.2 44.3 100.0 100.0 _l/Contract balance excludes finance and insurance charges. ^/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 106 banks, 64 of which reported dealer cost ratios as well as maturities. The November maturity distribution for ueed cars shown on pages 1 and 2 is based on 26,000 contracts, 17,000 purchased and 9,000 direct. The cross-classification on this page is based on 13,000 contracts, 9,000 purchased and 4,000 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