Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : May 14, 1963

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Not f o r p u b l i c a t i o n
BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM
L.4.2
AUTOMOBILE IHSTALMjNT/ LOANS AT COMMERCIAL BANKS
MATURITIES - - MARCH 196% AND FEBRUARY 196?
( P e r c e n t a g e d i s t r i b u t i o n of c o n t r a c t s )

Maturities

Tota:1

Purchased
paper
Feb.
. Mar.

Direct
loans
Feb.
Mar.

Mar.

Feb.

New c a r s
24 months o r l e s s
2 5 - 3 0 months
3 1 - 3 6 months
Over 36 months
Total

24.0
6.4
68.9
0.7
100.0

24.4
6.7
68.3
0.6
100.0

18.4
5-2
75.5
0.9
100.0

18.6
5.4
75.2
0.8
100.0

35-0
8.8
56.0
0.2
100.0

36.2
9.2
54.4
0.2
100.0

Used c a r s 1 /
12 months o r l e s s
13-18 months
1 9 - 2 4 months
Over 24 months
Total

15.4
13.9
38.1
32.6
100.0

16.0
14.5
37.7
_3L-8
100.0

11.9
12.7
36.3
39.1
100.0

11.8
12.8
37.0
38.4
100.0

22.1
16.1
41.5
20.3
100.0

23.9
17.8
39.0
19.3
100.0

l / F i g u r e s a r e p r e d o m i n a n t l y f o r l a t e model u s e d c a r s b u t i n c l u d e d a t a
f r o m a few b a n k s f o r a l l u s e d c a r s .
N O T E : — D i s t r i b u t i o n s a r e b a s e d on t a b u l a t i o n s of d a t a f r o m 123 b a n k s
f o r F e b r u a r y and March and a r e n o t i n t e n d e d t o be e s t i m a t e s f o r a l l
commercial b a n k s . I n March r e p o r t s c o v e r e d a b o u t 4 1 , 0 0 0 c o n t r a c t s on
new c a r s , 2 7 , 0 0 0 p u r c h a s e d and 1 4 , 0 0 0 d i r e c t , and 2 6 , 0 0 0 c o n t r a c t s on u s e d
c a r s , 1 7 , 0 0 0 p u r c h a s e d and 9>000 d i r e c t . Data a r e n o t c o m p a r a b l e w i t h
p r e v i o u s r e l e a s e s s i n c e c o m p o s i t i o n of t h e g r o u p of b a n k s c h a n g e s f r o m
month t o month.
For d i s t r i b u t i o n a c c o r d i n g t o m a t u r i t i e s and c o n t r a c t b a l a n c e s
a s a p e r c e n t a g e of d e a l e r c o s t s e e f o l l o w i n g p a g e s .




Not f o r p u b l i c a t i o n
L.4.2

DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
MARCH 1963 AND FEBRUARY 1963
NEW CARS
( P e r c e n t a g e 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 p e r c e n t a g e of
d e a l e r c o s t 1/

24 months
or l e s s
Mar. j Feb.

25-30
months
Mar. | F e b .

Maturities
| 31-36
j months
|Mar. | F e b .

Mar.

|Feb.

| Mar. i Feb.

PURCHASED PAPER
00% or l e s s
81% t o 90%
91% t o 100%
101% t o 110%
Over 110%
Total

10.9
2.7
3.1
1.2
0.5

11.2
2.8
3.3
1.1
0.4

1.9
1.1
1.1
0.5
0.1

1.9
1.2
1.3
0.6
0.2

15.4
16.4
24.4
14.0
5.5

14.0
15.9
24.6
14.6
5.9

18.4

10.8

4.8

5.1

75.7

74.9

0.2 | 0.1
0.2
0.1
0.5
0.4
0.2
0. 3
0.1
M
1.1
1.1

20.4
20.4
29.1
15.9
6.2

27.2
20.0
29.6
16.6
__6._6

100.0

100.0

DIRECT LOANS
80% or l e s s
81% t o 90%
91% t o 100%
101% t o 113%
Over 110%
Total

19.7 i 20.1
0.0
6.9
0.2
8.3
1.6
1.1
0.9
0.4
36.8

30.1

3.7 1 3.8
2.0
1.9
5.5
5.8
0.8
0.7
0.4
0.2
12.6

12.1

17.8
10.6
15.1
4.9
2.1

14.8
11.6
15.4
5.1
2.5

50.4

49.3

0.1 I 0.1
0.2
0.1
0.1 1 0.1
0.1 i *
I M
0.4 ! 0.5

41.2 j 38.6
21.7
19.6
29.1
29.2
6.9
7.3
3.6
2.7
100.0

100.0

0.2 | 0 . 1 i 31.4
0.2
0.1 1 20.2
29.1
0.3
0.4
13.9
0.2
0.3
0.1
5.4
j M
—
1.0 100.0
69.8 I 68.9 | 1.0

29.9
20.4
29.5
14.3
__L1
100.0

TOTAL
80% or l e s s
81% t o 90%
91% t o 100%
101% t o 110%
Over 110%
Total

13.0
3.7
4.3
1.3
0.5
22.7

7 3 . 3 11 2 . 3 | 2 . 3
4.0
1.3
1.4
2.2
2.3
4.5
0.6
0.6
1.1
0.2
0.5
M
6.6
6.8
23.4

1 6 . 0 11 4 . 2
15.0 j 14.9
22.2 22.4
11.9 j 12.4

1/ C o n t r a c t b a l a n c e does n o t i n c l u d e f i n a n c e and i n s u r a n c e c h a r g e s .
* Less t h a n o n e - t e n t h of one p e r c e n t .
N O T E : - - D i s t r i b u t i o n s a r e b a s e d on t a b u l a t i o n s of d a t a f r o m 64 banks f o r
F e b r u a r y and March and a r e n o t i n t e n d e d t o b e e s t i m a t e s f o r a l l commercial b a n k s .
I n March r e p o r t s c o v e r e d a b o u t 2 0 , 0 0 0 c o n t r a c t s on new c a r s , 15,000 p u r c h a s e d and
5,000 d i r e c t .
Data a r e n o t c o m p a r a b l e w i t h p r e v i o u s r e l e a s e s s i n c e c o m p o s i t i o n
of t h e group of banks c h a n g e s f r o m month t o month.
D e t a i l s may n o t add t o t o t a l s b e c a u s e of r o u n d i n g .




Not f o r p u b l i c a t i o n
DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS ( c o n t i n u e d ) .
MARCH 1963 AND FEBRUARY 1963
USED CARS
( P e r c e n t a g e 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 p e r c e n t a g e of
w h o l e s a l e v a l u e 1/

12 months
or l e s s
Mar. | F e b .

13-18
months
Mar. | F e b .

"Zlii |

19-24
months
Mar. | F e b .

Mar. i Feb.

»">

| Mar. | Feb.

PURCHASED PAPER
80% o r l e s s
81% C o 9 3 %
91% t o 100%
1 0 1 % t o 110%
Over 110%
Total

4.3
1.2
2.1
1.3
2.2

4.2
1.3
2.3
1.7
2.1

2.5 j 2.4
1.6
1.5
2.5 j 2.7
1 9
1.8
3. 6
3.5

11.5

11.6

1 1 . 9 111. 9

11.9
3.2
4.5
2.2
1.8

12.3
3.0
4.3
2.2
2.6

5.8 j 7.6
2.9
2.4
4.4 j 6.0
2.3 1 2.1
2.9

23.5

24. 3

'

5.7 I 5.3 j 3.8 j 4.4
3.5 .
4.9 | 5.2
3.4
9.6
8.3
9.7
9.1
6.1
8.2
8.9
7.0
1 1 . 0 10^5 14. 6 1 3 . 7
3 6 . 7 | 36. 3

39.8

40.1

16.3
11.0
23. 3
17.9
31.5

16.2
11.5
22.9
19.5
29.9

100.0

100.0

DIRECT LOANS
80% o r l e s s
01% t o 90%
91% t o 100%
101% t o 110%
Over 110%
Total

18.3

j

19. 9

4.8 I 5.1
12. 7 i l l . 3
'6.8
2 . 2 |1 2 . 7
1 7 ' 3
11.8 11.0
4 . 3 j! 3 . 8
4.6 | 3.9
2.2
1.9
3.0
| _ 5 z l ii _ L i
41. 7 j 39. 4 1 6 . 4 1 6 . 4

35.2 | 36.3
15.0 j 1 5 . 3
25.0
25.1
10.0
11.4
13.4
13.3
100.0

100.0

TOTAL
00% o r l e s s
31% t o 20%
91% t o 100%
101% t o 110%
Over 110%
Total

j

6.5 | 6.6
1.8
1.8
2.8
2.9
1.9
1.8
2.2
2.1

1.9
3.1
1.9
3.3

15.3

13.8

15.1

3.5

3.9
1.7
3.7
2.0
3.0

14.3

7.8 I
5.4 i
9.8
5.6
9.5 ,
38.1

4.1
3.1
8.0
6.4 j

7.1
5.8
9.1
6.0
2-1

4.6 J 21.9 | 22.2
12.6
3 . 3 j 12.2
7.8
23. 7
23.5
6.8
16. 6
15.9
10.4 1 26.0
24. 8

3 2 . 7 13 2 . 9 11 0 0 . 0

37.1
I

i

100.0

1

_!/ Con>racc b a l a n c e does n o t i n c l u d e f i n a n c e and i n s u r a n c e c h a r g e s .
2 / W h o l e s a l e v a l u e r e p r e s e n t s " a v e r a g e w h o l e s a l e , " " a s i s , " or " b u y i n g v a l u e "
as i n d i c a t e d by u s e d c a r g u i d e s .
K O T E : — D i s t r i b u t i o n s a r e b a s e d on t a b u l a t i o n of d a t a from 51 banks f o r F e b r u a r y
and March and a r e n o t i n t e n d e d t o be e s t i m a t e s f o r a l l commercial b a n k s .
I n March
r e p o r t s c o v e r e d a o o u t 1 1 , 0 0 0 c o n t r a c t s on u s e d c a r s , 8 , 0 0 0 p u r c h a s e d and 3 , 0 0 0
direct.
Dr.ta a r e n o t c o m p a r a b l e w i t h p r e v i o u s r e l e a s e s s i n c e c o m p o s i t i o n of t h e
group of banks changes f r o m month t o month.
D e t a i l s may n o t add t o t o t a l s b e c a u s e of r o u n d i n g .