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tn>° BOARD OF GOVERNORS OF THE FEDERAL.RESERVE SYSTEM /-.' ^ - " x " ) C f ) U U u K M - DIRECT A U T O LOANS BY COMMERCIAL BANKS |^ECO\TEOLL^ April 1971 Three months ending A p r i l * 1971 1 1970" March 1971 NEW CAR CONTRACTS zj $. € Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months - _ 27.1 5.3 67.1 0.5 26.9 6.1 66.4 0.6 27.5 6.0 65.8 0.6 88.4 87.9 88.6 87.1 - 26.6 .6.2 66.8 0.4 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 • . 17.5 13.8 35.9 32.8 17.7 12.9 34.4 35.0 17.8 13.3 35.2 33.7 16.0 • 12.4 35.4 36.2 89.8 87.7 88.9 88.4 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 -2D E A L E R A U T O L O A N S BY C O M M E R C I A L B A N K S (PURCHASED PAPER) Three months ending April* 1971 1 1970 April 1971 NEW CAR C O N T R A C T S Per cent of c o n t r a c t s w r i t t e n 24 m o n t h s or for: less 25-30 months 31-36 months O v e r 36 m o n t h s Contracts written Median 12.4 12.8 12.6 12.9 2.8 83.1 1.7 2.8 82.5 1.9 3.0 82.5 1.9 3.3 82.4 1.4 92.4 93.5 93.0 92.3 for 36 m o n t h s : loan/value ratio U S E D CAR C O N T R A C T S Per cent of c o n t r a c t s w r i t t e n for: 12 m o n t h s or less 13-18 m o n t h s 19-24 months . 13.9 11.6 28.6 13.6 11.7 28.6 14.4 11.8 28.1 10.4 9.8 29.9 Over 45.9 46.2 45.8 49.9 97.1 97.2 97.0 98.7 24 m o n t h s A l l used car Median contracts: loan/value ratio "Unweighted a r i t h m e t i c m e a n of the D a a t a i l s m a y not add three m o n t h l y r a t i o s . to totals b e c a u s e of r o u n d i n g . •• Ub-v L.4.2 -3DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS . & P R I L 1971 A N D M A R C H 1971 .. NEW CARS (Percentage distribution of contracts) Contract balance as percentage of dealer cost 1/ 24 months Apr. Mar. 7.3 1.9 1.8 1.1 0.8 7.1 2.8 1.6 1.0 0.7 12.9 25-30 months A p r . Mar. Maturities 31-36 Over 36 months months A p r . 1 Mar. A p r . I | Mar. Total Apr. | Mar. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total - 0.9 0.7 0.8 , 0.4 0.2 0.9 0.7 0.7 0.5 0.2 17.7 17.4 25.4 14.1 7.7 16.4 16.0 25.7 16.2 8.3 0.1 0.2 0.7 0.6 0.2 0.1 0.2 0.6 0.3 0.1 26.1 20.2 28.7 16.2 8.9 24.5 19.7 28.6 18.0 9.3 13.1 3.0 2.9 82.4 8-2.6 1.8 1.4 100.0 100.0 11.7 5.1 4.1 0.5 1.0 11.5 5.6 4.1 0.4 1.3 2.3 1.2 1.1 0.3 0.4: 2.1 1.5 1.1 0.2 0.3 20.2 16.7 17.5 4.6 2.7 20.0 17.4 17.1 4.3 2.2 0.2 0.2 0.1 0.6 0.2 0.1 0.1 0.1 34.4 23.2 22.8 5.5 .4.1 34.2 24.8 22.4 5.0 3.9 25.2 25.6 5.7 5 .8 68.3 67.5 0.9 1.1 100.0 100.0 8.4 2.7 2.3 0.9 0.9 8.2 3.5 2.2 0.8 0.8 1.2 0.8 0.9 0.4 0.2 1.2 0.9 0.8 0.4 0.2 18.3 17.2 23.5 11.8 6.5 17.3 16.4 23.5 13.2 6.7 0.1 0.2 0.5 0.5 0.2 0.2 0.2 0.5 0.2 0.1 28.1 20.9 27.2 13.6 7.7 26.9 21.0 27.0 14.7 7.9 15.9 16.3 3.6 3.6 78.9 78.8 1.5 1.3 100.0 100.0 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 1/Contract balance excludes finance and insurance charges. * Less than one-tenth of one per cent. NOTE: Distributions for A p r i l and March are derived from reports of 101 banks, 52 of which reported dealer cost ratios as well as maturities. The A p r i l maturity distribution for new cars shown on pages 1 and 2 is based on 39,000 contracts, 26,000 purchased and 13,000 direct. The cross-classification on this page is based on 21,000 contracts, 16,000 purchased and 5,000 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. # 3 L.4.2 -4DEALER COST RATIOS A N D MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) i; APRIL 1971 AND MARCH 1971 ': USED CARS (Percentage distribution of contracts) Contract balance as percentage of wholesale value 1/2/ 12 months Maturities 19-24 Over 24 months months Apr. 1 Mar. Apr. 1 Mar. Apr. I Mar. 13-18 months Apr.1 Mar. 3.3 1.1 1.5 1.2 1.6 3.4 1.4 1.6 1.3 1.7 2.3 1.3 1.6 1.3 2.0 2.4 1.3 1.4 1.4 2.2 5.3 4.8 8.2 5.3 6 .6 4.9 5.1 7.7 4.9 6.8 6.8 8.0 12.5 11.6 13.5 6.3 8.1 13.1 10.7 14.3 17.8 15.2 23.8 19.4 23.8 17.1 15.8 23.8 18.3 25.0 Total 8.8 9.3 8.5 8.7 30.3 29.4 52.4 52.6 100.0 100.0 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 7.4 1.6 3.0 1.0 0.7 8.5 5.7 4.8 11.7 12.5 8.2 10.7 33.0 36.6 2.1 3.2 0.7 0.5 2.5 3.1 1.2 0.6 2.6 3.3 0.7 0.9 7.7 11.5 3.2 3.8 7.5 11.8 2.8 3.6 5.6 9.4 3.0. 4.1 5.3 9.9 4.3 4.3 17.4 27.1 8.4 9.2 17.5 28.2 8.5 9.2 14.2 15.0 13.6 12.2 39.6 38.3 32.7 34.5 100.0 100.0 4 .6 1.3 2.0 1.1 1.3 5.1 1.6 2.1 1.1 1.3 3.4 1.6 2.1 1.3 1.6 3.2 1.7 2.0 1.2 1.8 7.4 5.7 9.2 4.7 5.7 7 .4 5.9 9.0 4.2 5.7 7.2 7.3 11.5 8.9 10.6 7.8 7.2 12.0 8.6 11.0 22.6 15.9 24.8 16.0 19.2 10.5 11.2 10.1 9.9 33.2 46.2 46.7 . 100.0 Total Apr . 1 Mar. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% ' : DIRECT LOANS Total TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 32.3 23.5 16.4 ; 25.2 ^ 15.1 ,/ 19.9 100.0 1/Contract balance excludes finance and insurance charges. I/Wholesale value represents "average wholesale," "as is," or "buying value" as indicated by used car guides. NOTE: Distributions for April and March are derived from reports ot 101 banks, 49 of which reported dealer cost ratios as well as maturities. The April maturity distribution for used cars shown on pages 1 and 2 is based on 30,000 contracts, 19,000 purchased and 11,000 direct. The cross-classification on this page is based on 12,000 contracts, 8,000 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