Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : November 17, 1966

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B O A R D O F GOVERNORS O F THE F E D E R A L R E S E R V E SYSTEM

L.4.2

November 17, 1966.

DECONTROLLED AFTES StZ
D I R E C T A U T O L O A N S BY COMMERCIAL BANKS

Sept.
1966

Aug.
1966

T h r e e months
ending S e p t e m b e r *
1966 T 1965

NEW C A R CONTRACTS

Per cent of contracts w r i t t e n for:
»

24 months or less
25-30 months
31-36 m o n t h s
Over 36 months
Contracts w r i t t e n for 36 months:

27.3
6.7
65.6
0.4

26.4
6.2
67.1
0.3

27.1
6.3
66.3
0.3

26.5
6.3
66.8
0.4

86.1

86.9

87.6

89.1

M e d i a n loan/value ratio

USED CAR CONTRACTS

Per cent of contracts w r i t t e n for:
12 m o n t h s or less
13-18 months
19-24 m o n t h s
Over 24 m o n t h s

18.1

18.4
13.8
36.6
31.2

14.1
37.2
30.6

18.5
13.8
37.2
30.5

88.8

88.8

89.2

A l l used car contracts:
M e d i a n loan/value ratio

•Unweighted arithmetic m e a n of the three m o n t h l y ratios.

?




18.6
13.8
39.0

28.6

Hl(

Not for publication
L.4.2

-2-

DEALER A U T O LOANS B Y COMMERCIAL BANKS (PURCHASED PAPER)

Sept.
1966

Aug.
1966

Three months
ending September*
1966
| 1965

NEW CAR CONTRACTS

Per cent of contracts written for:
24 months or less
25-30 months
31-36 months
Over 36 months

12.9
3.7

82.6

0.8

12.8
3.6

82.8
0.8

12.9
3.6
82.5

1.0

13.9
3.6

81.8
0.7

Contracts written for 36 months:
Median loan/value ratio

93.7

93.7

93.6

93.1

USED CAR CONTRACTS

Per cent of contracts written for:.
12 months or less
13-18 months
19-24 months
Over 24 months

10.3

10.0
10.0

30.7
48.9

9.5
9.9
31.5
49.1

9.5
9.7
30.9
49.9

32.9
47.1

99.4

99.7

99.8

97.5

10.1

All used car contracts:
Median loan/value ratio

*Unweighted arithmetic mean of the three monthly ratios.




M o .
Not for publication

-3-

L.4.2

DEALER COST RATIOS A N D MATURITIES
O N AUTOMOBILE INSTALMENT LOANS
SEPTEMBER 1966 A N D A U G U S T 1966
NEW CARS
(Percentage distribution of contracts)

Contract balance
as percentage of
dealer cost 1/

24 months
or less
Sept. | A u g .

Maturities
25-30
31-36
Over 36
months
months
t months
Sept. lAug. Sept.1 A u g . Sept. 1 A u g .
1

80% or less
817, to 90%
91% to 100%
101% to 110%
Over 110%

Total
Sept. 1 A u g .

PURCHASED PAPER

6.7
1.6
2.4
0.9
0.4

7.2
1.5
2.3
0.8
0.5

1.1
0.9
1.2
0.4
0.2

1.3
0.7
1.2
0.4
0.1

15.8
14.9
29.4
15.8
7.5

15.8
15.5
28.1
15.7
8.5

0.1
0.5
0.1

Total

12.0

12.4

3.8

3.7

83.4

83.6

8 0 % or less
81% to 90%
91% to 100%
101% to 110%
Over 110%

16.2
3.1
4.8
1.2
0.4

16.7
2.8
5.2
0.9
0.5

3.0
1.5
2.1
0.3
0.2

2.7
1.0
2.2
0.4
0.1

27.6
9.4
18.6
7.6
3.3

25.7

26.1

7.1

6.4

66.5

0.2
*
*

0.1

23.7
17.5
33.5
17.2
8.1

24.4
17.8
31.8
16.9
9.1

0.7

0.3

100.0

100.0

27.0
9.4
19.1
6.9
4.6

0.4
0.1
0.2

0.2
0.1
0.1
0.1

47.3
14.2
25.7
9.0
3.8

46.6
13.3
26.7
8.2
5.2

66.9

0.7

0.5

100.0

100.0

0.1

DIRECT LOANS

Total

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

8.6
1.9
2.9
1.0
0.4
14.7

9.1
1.8
2.9
0.8

1.6
0.8
1.4
0.4
0.1

18.2
13.8
27.2
14.1
6.7

18.0
14.3
26.4
13.9
7.7

0.1
0.1
0.4
0.1
*

0.2

_ M

1.5
0.9
1.4
0.4
0.2

28.4
16.8
31.9
15.6
7.3

28.8
16.9
30.8
15.2
8.3

15.1

4.4

4.2

80.1

80.3

0.7

0.3

100.0

100.0

1/ Contract balance excludes finance and insurance charges.
Less than one-tenth of one per cent.
*
NOTE: Distributions for September and August are derived from reports of 114 banks,
71 of which reported dealer cost ratios as well as maturities. The September maturity
distribution for n e w cars shown on pages 1 and 2 is based on 35,000 contracts,
26,000 purchased and 9,000 direct. The cross-classification on this page is based
on 19,000 contracts, 15,000 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.
may not add to totals
Digitized Details
for FRASER


because of rounding.

Not for publication
L.4.2

-4DEALER COST RATIOS A N D MATURITIES
ON AUTOMOBILE INSTALMENT LOANS (continued)

i"

SEPTEMBER 1966 A N D A U G U S T 1966
USED CARS

f
k
|

(Percentage distribution of contracts)

Contract balance
as percentage of
wholesale value 1/2/

Maturities
12 months
13-18
' Over 24
19-24
or less
months
months
months
Sept. 1 A u g . Sept.I A u g . Sept. 1 Aug. Sept 1 A u g .

?
Total
Sept. 1 A u g .

§

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PURCHASED PAPER
80% or less
81% to 90%
91% to 100%
100% to 110%
Over 110%

3.0
/1.3
' 2.0
1.3
2.3

3.2
1.3
1.6
1.3
2.1

1.9
1.9
2.1
1.5
2.6

9.9

9.5

10.3
2.2
3.8
1.4
_2A

9.7
1.9
4.7
0.9

Total

19.7

19.1

80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%

4.9
1.6
2.5
1.3
2.2

4.9
1.4
2.4
1.2

2.9
1.7
2.9
1.4
2.3

12.5

12.0

11.2

Total

/

4.2
4.4
7.2
4.9
9.0

4.3
4.6
7.0
5.1
9.1

5.4 5.3
7.4
7.6
10.5 10.2
10.4 10.1
16.6 17.6

14.5
15.0
21.9
18.1
30.5

14.9
15.0
20.7
17.9
31.5

10.0

9.5 29.8

30.1

50.3 50.8

100.0

100.0

5.6
1.4
5.0
1.0

14.8
4.6
9.8
2.7
5.4

9.1
2.9
8.2
4.0
4.8

38.8
12.7
26.3
10.4
11.8

40.0
11.4
25.8
8.6
14.2

• i

_Li£

6.3 13.0
2.1 4.9
3.2 10.0
1.0 2.9
2.2 4.5

14.6

14.7 35.4

37.2

30.3 28.9

100.0

100.0

i

2.1
1.5
1.9
1.4
M

DIRECT LOANS
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%

9.8
4.2
7.5
5.1
3.7

TOTAL

Total

6.6
4.5
8.0
4.4
7.8

7.0
4.6
7.7
4.5
8.2

6.6 6.3
6.5 6.4
9.7 9.7
9.0 8.5
13.2 14.3

20.9
14.4
23.1
16.1
25.5

21.4
14.1
22.0
15.5
27.0

10.9 31.3

32.0

45.0 45.1

100.0

100.0

3.2
1.7
2.2
1.3
2.5

1/Contract balance excludes finance and insurance charges.
^/Wholesale value represents "average wholesale," "as is," or "buying value"
as indicated by used car guides.
NOTE: Distributions for September and August are derived from reports of 114 banks,
67 of which reported dealer cost ratios as well as maturities. The September maturity
distribution for used cars shown on pages 1 and 2 is based on 26,000 contracts,
18,000 purchased and 8,000 direct. The cross-classification on this page is based
on 14,000 contracts, 10,000 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.

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