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Not f o r p u b l i c a t i o n ' BOARD; OF GOVERNORS OP TH3 FSDERAL R>32RVi2 SYSTEM L '^'2 | " \ \ May 10, I960 k4i?CRITJES-.0N- AUTbmBTtiB i N S T A L t i S J T LOAliS MARCH I 9 6 0 AND" FEBRUARY 1 9 6 0 (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Mar. New c a r s 24 months or l e s s 25-30 months 31-36 months Over 36 months Total Used c a r j 1 / 12 months or l e s s 13-18 months . 19-24 months Over 24 months Total Purchased ' paper Mar. Feb. Total Maturities 28.7 10.5 60.4 j 0.4 100.0 Feb. 28.7 10.8 60.2 0*3 ' 100.0 1 20.8 8.6 70.2 0.4 100.0 : 1 Mar . Direct loans j Apr. ^ 21.6 9.1. . 68.8 t 43.8 14.1 41.8 43.4 14.5 42.0 I0§ti.. 10M io§ti .12.7', 15.8 • 41,8; 23.7 23.O 39,7 13.6 100.0 25.9 23.1 37.7 j i i 100.0 ' . 15.i; 16.5 16.4 17.0 4li7 40.7 • 26.2 - •• 2 6 . 4 100.0 100.0 11,7 14.6 42.4 •31.3 100.0 100*0 l / F i g u r e s a r e predominately f o r l a t e model used c a r s but i n c l u d e d a t a 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 1 based on t a b u l a t i o n s of d a t a from 136 banks f o r February and March and a r e not intended t o be e s t i m a t e s f o r . a l l commercial banks. In March r e p o r t s covered about 37>000 c o n t r a c t s on new cars,- 24,000 purchased and 13,000 d i r e c t , and 20,000 c o n t r a c t s on used c a r s , 14,000 p u r chased and 6,600-direfct-. - S i n c e composition of t h e group of banks changes from month t o .month, d a t a a r e not comparable with previous r e l e a s e s . For d i s t r i b u t i o n a c c o r d i n g to: m a t u r i t i e s age of d e a l e r c o s t , see f o l l o w i n g p a g e s . tod'cotitract .balance a s " a p e r c e n t - " Not f o r p u b l i c a t i o n — 2 — L.4.2 DULLER COST RiiTlOS AND MATURITIES ON AUTOI.OBILS INSTALMENT LOANS MARCH I960 AND FEBRUARY i960 NS; CARS (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Contract balance I 24 months as percentage of ! or l e s s d e a l e r cost 1/ Mar. | Feb. Maturities Over 36 31-36 25-30 | months months months : Mar. | Feb. 1 Mar. I Feb. j Mar, i Feb. | Total Mar. | Feb. PURCHASED PAPER 80# or l e s s I 12.8 81:^ t o 90# I 3.6 91vb to 100# 3-4 1.1 101# to 110# 0.2 Over 110# 21.1 12.6 4.1 4.0 1.1 0.4 3.4] 3 A 1 . 9 j 2.2 2.4 | 2.7 0.9 0.9 0.4 0.4 13.7 16.3 22.1 11.1 6.0 12.9 16.1 23.0 10.3 5.6 0.1 0.1 0.1 0.1 * * 22.2 | 9-0 69.8 67-9 0.1 9.6 * . 0.3 29.9 21.8 28.6 13.1 6.6 29.0 22.5 29.8 12.3 6.4 100.0 100.0 51.5 19.2 20.2 5.6 3.5 48.4 20.9 21.1 6.2 3.4 DIRECT LOANS 80# or l e s s 81# t o 90# 9l/o to 100# 101# to 110# Over 110# 31.0 7-3 5.0 1.4 1.0 28.3 7-9 5.9 1.4 1-5 7,8 3.6 3.9 0.8 0.4 ' 45.7 43.0 16.5 80% or l e s s 18.2 61# t o 90# 4.7 91# t o 100# 3.9 101# t o 110# 1 1.2 Over 110# j 0.5 17.2 5.1 4.6 1.2 0.7 4.8 2.4 2.9 0.8 0.4 28.8 11.3 Total Total | 28.5 7.2 4.0 4.6 1.0 0.4 12.6 8.3 10.7 3.4 2.1 12.9 9.0 10.6 3.8 1.5- 0.1 * * * 0.6 * * * 17.2 1 37-1 37.8 0.7 * 4.5 2.7 3.2 1.0 0.4 13.4 13.9 19.1 8.8 4.8 12.9 14.1 19.4 8.4 4.4 0.1 0.2 * 11.8 60.0 59.2 0.3 * 100.0 I1 100.0 * 36.4 21.0 26.1 10.8 . 5.7 34.6 22.0 27.3 10.6 5.5 0.2 100.0 100.0 * 0.1 0.1 * Less than o n e - t e n t h of one per c e n t . NOT5: D i s t r i b u t i o n s a r e based o n - t a b u l a t i o n s of d a t a from 81 banks f o r February and March and a r e not i n t e n d e d to be e s t i m a t e s f o r a l l commercial banks. In'March r e p o r t s covered about 19,000 c o n t r a c t s on new c a r s , 13,000 purchased and 6,000 d i r e c t . Since composition of the group of banks changes from month t o month, d a t a a r e not comparable with previous r e l e a s e s . Not f o r p u b l i c a t i o n L.4.2 - 3 DEALER COST RATIOS AMD MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) MARCH I960 AND FEBRUARY i960 USED CARS (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Contract balance as percentage of 12 months or l e s s Mar. i Feb. 80# o r l e s s 81# to 90<p 91# to ICO# 101% to 110# Over 110"Jo 4.0j 4.2 2.0 j 2.2 2.21 2 . 2 1.91 1 . 9 1.6! 1.8 1 19-24 j Over 24 months 1 months Total Mar. I Feb. 1 Mar.i Feb. 1 Mar. 1 Feb. 13-16 Months Mar. j Feb. - PURCHASED PAPER 11.71 12.3 3.4 | 2.6j 3.0 2.0 | 2.3 i 3.9 8.5 2.3 8.5 2.8 10.8 1.7 7-5 . 2_.l - L i 13.3 | 1 2 . 8 42.9 8.3 8.4 11.2 8.0 6.8 5.5 5.7 8.7 6.6 5.6 42.7 32.1 5.0 5.8 10.0 6.6 . 4.8 32.2 21.4 I 21.4 1 8 . 8 | 18.7 24.7 1 26.2 18.0 18.2 l U : _1^5 100.0 1 100.0 DIRECT LOANS 80# o r l e s s 81$ to 90# 91# to 100# 101# t o 110% Over 110# Total 15.51 17.6 I 1 2 . 0 12.9 4.4 2.9 | 2 . 7 | 3 . 3 2.5 3,7 1.2 1.7 1.4 12.6 1 4 . 6 11.4 10.4 7/2 7.9 2.9 4.7 2 . 8 JL1 . — ! 23.71 25.4 1 22.8 39.4 24.1 37.8 2.6 5-1 2.8 2.0 1.6 14.1 3 , 2 | 42.7 2.0 22.7 2.9 17.4 2.0 10.0 2.6 7.2 48.3 19.5 16.3 7.8 8.1 100.0 100.0 12.7f TOTAL 80# o r l e s s 81# to 90# 91# to 100# 101# to 110# Over 110/3 Total 7.6:.8.4| 2.3 i 2.3 ! 2.4 | 2.2 I 15.4 ! 16.4 6.7 2.9 3.1 1.7 . 1.9 16.3 10.3 I 4 . 6 9.0 1 5-5 9.8 9.4 9.9 6.6 6.1 41.8 1 6.4 I 5-2 5-5 1 4.4 4.4 4.6 7.8 5.2 4.1 1 j2 6 . 5 26.1 10.0 41.2 1 | 6.8 28.0 29.8 20.1 18.9 22.4 23.1 15.0 15.5 14.0 _ £ L 2 100.0 100.0t 1 / Contract balance does n o t i n c l u d e f i n a n c e and insurance charges. 2 / Wholesale v a l u e r e p r e s e n t s "average wholesale " " a s i s " " o r buying value" as i n d i c a t e d by used c a r g u i d e 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 65 banks f o r February and March and a r e n o t intended t o be e s t i m a t e s f o r a l l commercial banks. I n March r e p o r t s covered about 10,000 c o n t r a c t s on used c a r s , 7,000 purchased and 3,000 d i r e c t . Since composition of t h e group of banks changes from month to month, d a t a a r e n o t comparable w i t h p r e v i o u s r e l e a s e s . ^ '
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