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Not for pub 1 if a firm * L.4.2 DECONTROLLED - ... BOARD OF GOVERNOR; OF THE FEDERAL RESERVE SYSTEM J U . 1 0 196/ June 12, 1967 C iFTER Sli DIRECT AUTO LOANS BY COMMERCIAL BANKS April 1967 Three months ending April* 1967 | 1966 March 1967 NEW CAR CONTRACTS Per cent of contracts written for: 24 months or less 25-30 months 31-36 months Over 36 months 29.0 6.0 64.0 1.0 28.8 27.5 6.4 64.9 1.1 6.3 63.8 1.1 29.2 6.3 64.2 0.3 84.1 86.6 86.9 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 19.7 12.8 36.1 31.4 19.2 12.9 35.9 31.9 87.6 87.4 All used car contracts: Median loan/value ratio *Unweighted arithmetic mean of the three monthly ratios. 20.1 12.9 35.6 31.3 18.4 12.6 36.8 32.2 Not for publication L.4.2 -2- DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) April 1967 Three months ending April* 1966 1967 March 1967 NEW CAR CONTRACTS Per cent of contracts written fcr: 24 months or less 25-30 months 31-36 months Over 36 months 14.4 3.8 80.6 1.0 13.3 3.6 81.8 1.2 14.2 3.9 80.6 1.2 15.5 4.3 79.3 0.9 92.9 93.6 Contracts written for 36 months: Median loan/value ratio 92.8 USED CAR CONTRACTS Per cent of contracts written for: 12 months or less 13-18 months 19-24 months Over 24 months 9.0 9.3 31.0 50.6 9.7 9.7 29.5 50.9 9.4 9.4 30.1 51.0 29.9 52.1 99.7 98.8 98.8 99.1 9.4 8.6 All used car contracts: Median loan/value ratio ^Unweighted arithmetic mean of the three monthly ratios. Not for publication -3- L.4.2 y DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS APRIL 1967 AND MARCH 1967 i Contract balance as percentage of dealer cost 1/ NEW CARS (Percentage distribution of contracts) 24 months less Apr. ! Mar. 25 -30 months Apr. 1 Mar. Maturities 31 -36 months Apr. lifer. Over 36 months Apr. 1' Mar. Total Apr. 1 Mar. PURCHASED PAPER 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 8.8 1.5 2.0 0.7 8.2 1.6 2.1 0.8 1.5 0.6 1.5 0.3 0.2 1.4 0.7 1.2 0.3 0.1 18,0 15.5 26.4 13.6 8.2 17.3 15.8 26.8 13.Z 9.0 4.1 3.7 81.7 82.1 - M 0.1 0.1 0.3 OA 0.1 0.2 0.3 0.2 0.1 28.3 17.7 30.2 14.6 9.2 27.0 18.3 30.3 14.5 9.9 0.6 0.9 100.0 100.0 Total 13.6 13.3 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% 17.6 4.5 4.8 0.7 0.7 17.5 " 2.9 4.4 1.2 5.6 1.8 1.2 0.4 ' 0.3 0.5 3,3 1,1 1.9 0.4 0.2 28.8 9,5 17.2 5.4 3.6 27,3 10.3 17.1 4.9 3.4 0.1 0.1 0.2 0.2 0.2 0.1 0.1 49.4 15.3 23.9 6.6 4.8 48.3 28.4 29.2 6.9 64.6 63.1 0.3 0.8 100.0 100.0 19.6 14.6 24.5 11.3 7.7 0.1 0.1 0.2 M 0.1 0.1 0.3 0.1 oa 33.6 17.1 28.6 12.6 8.1 31.9 17.8 29.0 12.7 8.6 77.7 0.5 0.8 100.0 100.0 DIRECT LOANS Total 6.7 16.0 24.8 6 .6 4.3 TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total V * 11.0 2.2 2.7 0.7 0.7 10.3 2.2 2.9 0.9 _oj> 1.9 0.8 1.6 0.3 0.2 24 20.7 14.0 24.1 11.5 7.1 17.3 17.0 4.8 4.5 77.4 1.8 0.8 1.3 0.4 Contract balance excludes finance and insurance qharggsV Less than one-tenth of one per cent. NOTE: Distributions for April and March are derived from reports of 112 banks, 70 of which reported dealer cost ratios as well as maturities. The April 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 20,000 contracts, 15,000 purchased and 5,000 diirect. The data are not intended to be estimates for all commercial banks and are npt 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. Not for publication L.4.2 -4DEALER COST RATIOS AND MATURITIES ON A U T O K W I L E INSTALMENT LOANS (continued) APRIL 1967 AND MARCH 1967 USED CARS (Percentage distribution of contracts) l^OLlLiaCL Dal duC c as percentage of Twuoiesdie A T ^ A 1 o e a l a Ivalue TO I H A 1 /0 / Lf£/ 12 months 13 -18 li:SS months Apr. ! Mar. Apr.|Mar. Maturities 19 -24 Over 24 months months Apr. 1 Mar. Apr.| Mar. Apr. Total I Mar. PURCHASED PAPER 80% or less 817= tc 90% 91% to 100% 101% to 110% Over 110% Total 3 .1 1 .0 1.3 0.9 j .1 8.9 i i.i 1.5 0.8 2.3 2.4 1.5 1.7 0.8 3.0 2.2 1.5 1.6 0.9 2.6 4.5 4.2 7.6 4.1 9.9 4.4 4.6 6-8 4.0 8.7 5.7 5.7 6.9 8.5 10-2 11.5 8.6 9.6 20.0 18.4 16.2 13.6 20.8 14.4 35.0 15.5 15.7 21.3 15.4 32.1 8.9 9.4 8.8 30.3 28.5 51.4 53.8 100.0 100.0 6.2 14.4 ! 13.6 11.1 10.9 1.5 4.9 4.8 3.5 3.7 3.7 9.6 9.3 7.1 7.1 3.2 3.0 3.4 1.0 3.3 5.8 6.0 6.1 1.8 4.8 41.3 11.5 24.4 8.2 14.6 41.1 12.1 23.7 8.2 14.9 100.0 100.0 3 - 2 DIRECT LOANS 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% . Total 10.0 1.7 4.0 0.7 2.0 10.4 2.1 3.6 0.8 1.2 5.8 1.3 3.7 1.0 1.8 18/' 18.1 13.6 36.9 14.2 37.1 30.9 30.8 : TOTAL 80% or less 81% to 90% 91% to 100% 101% to 110% Over 110% Total 5.3 1.2 2.1 0.8 2.1 5.2 1.4 2.1 0.8 3.3 1.4 2.2 0.9 2.6 11.5 11.5 10.4 7.3 4.4 8.2 3.9 8.5 6.9 4.7 7.5 3.8 7.9 7.2 7.2 6.0 7.2 9.3 10.3 7.1 7.8 16.2 15.0 23.0 13.0 21.8 12.7 29-5 10.3 32.3 30.8 45.8 47.4 100.0 3.3 1.5 2.2 0.9 2.4 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 April and March are derived from reports of 112 banks, 65 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 31,000 contracts, 21,000 purchased and 10,000 direct. The cross-classification on this page is based on 16,000 contracts, 12,000 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. I : 22.6 14.7 22.0 13.4 27.3 1 0 0 . 0 , :
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