Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : May 9, 1962

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LIBRARY
MAY 14 |962

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Not for publication
BOMB OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM
L.4.2

May 9, 1962

MATURITIES ON AUTOMOBILE INSTALM^TTlLOAI'S
5C0NTR0LLED AFTER SIX MONTHS
MARCH 1962 AND FEBRUARY 1962
(Percentage distribution of contracts)
vc

Maturities
March
New cars
24 months or less
25-30 months
31-36 months
Over 36 months
Total

"

1 Feb.
1
'

26.3
Ick
,
65.7
0,6 |
100.0

27.0
8.3
64.0
0.7

| 100.0

Purchased
!
Direct
logtflS
•oarer
Feb.
March ' Feb. J March
39.4
10.7
49,7
0.2

40.6
11.9
47.2
0,3

100.0

100.0

100.0

15.3
15.3
37.9
JQsZ

26,6
20,5
38,2
J M

26.7
22,1
37.3

19.8 j 20.5
5.8
6.5
72.2
73.6
0,8
0.8
100.0

'

Used caxs l/
12 months or less
13-10 month's
19-24 months
Over 24 months

16c 6 1 1-7.4
16.6 |
! 17-4
38.7
37-8
-2W. j

12.1
I4c8.
38-9

Total

100.0
100.0
100.0
j 100.0
100.0 J 1 0 0 . 0
» . late
. i model used cars1 but include data
l/Figures are predominantly. for
from a few banks for all used cars.
NOTE:—Distributions are based on tabulations of data from 126 banks
for February and March and are not intended to be estimates for all commercial banks. In March, reports covered about $8,000 contracts on new
cars, 25»000 purchased and 13,000 direct, and 23,000 contracts on used cars
16,000 purchased and 7>000 direct. Since composition of the group of banks
changes from month to month, data are not comparable with previous releases.
For distribution according to maturities and contract balances
as a percentage of dealer cost see following pages.




*i7ot for publication
L.4.2

-

2

-

D3AL3R COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
MARCH 1962 AND FEBRUARY 1962
NEW CARS
(Percentage distribution of contracts)

Contract balance
as percentage of
dealer cost l/
:

1

24 months
or less
Mar.
| Feb,
1

1
Over 3 6
| 51-56
25-30
Total
|
months
months
: months
Mar. 1 ?Vo, i:urj Fsb. 1 2'irr. | Feb. Mar. j Feb.
HTZlCHASEL RAPS

80fo or less I 12.0 I 12
81% to 90#
91fotolOO-S
101$ to 110cOver 1109%
Total

19.2 i 20.5

15.7
17.5
23.7
12.2
Jbl

14.9 | 0.1
15.2 ! 0.1
23.6 | 0 . 2
12.5
*
*
5.4

0.1
0.1
0.2

31.0
21.9
27.8
15.8
5.4

29.5
21.3
28.6
14.4
6.3

74.8

72.6

0.4

0.4

100.0

100.0

0.1

0.1
0.1
0.1

37.4
19.5
33.4
7-3
2.4

36.5
17.4
35.9
7.2

100.0

100.0

DIRECT LOANS
80% or less
2 0 . 9ji20.5. 4.2
81% to 90#
2.3
7 . 2 1 6.2
6.0
91% to 100%
9 . 9 j 11.5
1.4 1 1-5
101% to 110%
0.9
Over 110%
_0^2
Total

39.7 | 40.0

13.6

4.0 i 12.1 11.9
8.8
10.1
2.3
17-4 17.7
6.7
0.9
5-0
4.7
0.6
J -1,2 _ & o
14.5 | 46.5 45.1

*

0.1
*

*

—

—

0.2

0.3

0.1
0.1
0.1

0.1
0.1
0.2

TOTAL
80% or less
14.5 | 14.4
8 1 % to 90<
4.3
4.2
91% to 100}4
4.7, 5.5
1 0 1 % to 1 1 0 % 1.0 ! 1.3
Over 110%
_0-4| _ 0 0
Total

24.9 | 25.9
i. -

2.8
1.5
2.6
0.7
2*2

2.8
1.6
3.0
0.8
QA

7-8

8.6 | 66.9

15.5 14.1
15.4 14.2
21.9 22.0
10.2 10.3
|

65.I

*

*

—i-

—L,

0.3

0.4

32.8
31.4
21.2
20.2
29.4
30.7
12.0
12.4
4.6 _ 5 V 4
100.0

100.0

* Less than one-tenth o£ one per cent.
•NOTE:—Distributions are based on tabulations of data from 65 banks for
February and March and are not intended to be estimates for all commercial banks.
In March reports covered about 18,000 contracts on new cars,13,000 purchased and
5,000 direct. Since composition of the group of banks changes from month to
month, data are not comparable with previous releases.
Details may not add to totals because of rounding.




I
I
S,

'Not for publication
L.Zi.2

- 3 DEALER COST RATIOS AMD MATURITIES
ON AUTOMOBILE INSTALMENT LOANS (continued)
MARCH 1962 AND FEBRUARY 1962
USED CARS
(Percentage distribution of contracts)

Maturities
Contract balance
12 months
13-18 | . 19-24 I Over 2k
as percentage of
or less
months ! months |i months
wholesale value 1/2/
Mar.| Feb. Mar. |Feb. |i-Irr. }Feb. rIMar.} Feb.

Total
Mar. t Feb.'

PURCE.S^D PAPER
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total

lul
1.9
2.3
1.5
hi

h>k
2 J.
2.7
1.6
hi

2.9
2.2
3.1
1,9
M

2.9
2.2
3.2
2.2
hi

6.2
6.8
9.k
6.9

6.b
6.b
9.0
6.3

3.6
5.1
9.3
6.7
llcl

&A

11.6 13.3 13.6 lli.O 38.9

k.2
b.2
3.2
6.8
10.8

16.8
16.1
2U.0
17.0
26.0

17.8
15.3
23.0
170h
26,5

38.5 35.8 31.2 100.0 100.0

DIRECT LOi
80% or less
81% to 90,6
91% to 100£
101% to 110%
Over 110%
Total

1U.3 l$.h
2.8
3.9
3.1
3*9
2.1
2,8
hi
hi
26.L

25.G

7.7
3.2
5.2
2.h
hi
21,0

8.2
9.3 11. a
3.7 9.7 9.0
5.8 11.7 12o0
2.0
ii.8 5.1
hn6
3.9
IA
22.3 4O.6

3.2 | 2.5
2.4 1.7
3.0
3.3
1.7
1.3
hi
hi

31.9
19.2
2h.l
10.6
11,2

kl.h 12.1 10.h 100.0

37.6

17,2
23,9
11.6
100.0

TOTAL
80% or less
81% to 90%
91% to 100'<
101% to 110^
Over 110 %
Total

j 7.1 ! 7.6 1 U.3 h.h 7.3
7.9
7.7
7.1
2."
2.5
2.5
2.5
2„8
10.0
•
2.8
3.7
9.8
3.9
1.7
2.0
2.0
2.1 6.3
6.3
2.0
8.1
3.2 hi
M
M
16.0

16.9

15.7 16a h

39.3

3.5.
ii.3
7.4
5.1
hi

39.2 28.6

3.7 I 22.1
•3.h 17.0
6.6
23.9
5.2 15.1
21.5
M
26.9

23.6
15.8
23.2
15.6
21.ii

100.0 100.0

1/ Contract balance does not include finance and insurance charges.
2/ Wholesale value represents "average wholesale," "as is," or "buying
value" as indicated by used c^r guides.
NOTE: Distributions are based on tabulations of data from LU banks for
February and March ?nd arc not intended to be estimates for all commercial
banks. In March reports covered about 10,000 contracts on used cars, 7,000
purchased and 3,000 direct. Since composition of the group of banks changes from
month to month, data are not comparable with previous releases.
Details may not add to totals because of rounding.