Full text of L.4.2 Auto Loans by Commercial Banks : Maturities and Dealer Cost Ratios : November 7, 1969

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551
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
November 7 , 1969
DECONTROLLED AFTER SIX MONTHS
— M R E r r A U T O LOANS BY COMMERCIAL BANKS

\<"r

September
1969

August
1969

^ ± 0 ^ ^

Three months
ending September*
1969
1 1968

NEW CAR CONTRACTS

P e r c e n t of c o n t r a c t s w r i t t e n f o r :
24 months o r l e s s
25-30 months
3 1 - 3 6 months
Over 36 months

26.9
6.0
66.5
0.5

23.6
6.6
68.9
0.9

24.9
6.3
68.3
0.6

25.2
5.6
68.9
0.3

16.1
13.5
35.8
34.6

17.0
13.1

11:1

90.1

84.5

C o n t r a c t s w r i t t e n f o r 36 m o n t h s :
Median l o a n / v a l u e r a t i o

USED CAR CONTRACTS

P e r c e n t of c o n t r a c t s w r i t t e n f o r :

*i
y
';/
?•

12 m o n t h s o r l e s s
13-18 months
1 9 - 2 4 months
Over 24 m o n t h s

16.5
13.2
36.2
34.1

16.1
13.6
35.7
34.7

A l l used c a r c o n t r a c t s :
Median l o a n / v a l u e r a t i o
^ U n w e i g h t e d a r i t h m e t i c mean of t h e t h r e e m o n t h l y r a t i o s .
D e a 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 .


1


.A-

L.4.2

-2-

DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER)

NEW CAR CONTRACTS

Per c e n t of c o n t r a c t s w r i t t e n f o r :
24 months o r l e s s
25-30 months
31-36 months
Over 36 months

11.5
2.6
84.9
1.1

11.6
2.6
84.5
1.3

11.7
2.6
84.6
1.2

12.3
3.1
83.4
1.2

92.7

93.2

92.9

92.0

C o n t r a c t s w r i t t e n f o r 36 months:
Median l o a n / v a l u e r a t i o

USED CAR CONTRACTS

Per c e n t of c o n t r a c t s w r i t t e n f o r :
12 months or l e s s
13-18 months
19-24 months
Over 24 months

10.2
9.9
33.1
46.9

9.6
9.2
32.8
48.4

9.9
9.3
32.2
48.6

9.4
9.2
31.5
49.9

98.8

99.6

99.9

97.7

A l l used c a r c o n t r a c t s :
Median l o a n / v a l u e r a t i o

*Unweighted a r i t h m e t i c mean of t h e t h r e e monthly r a t i o s .
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 .




L.4.2

-3DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS

t

SEPTEMBER 1969 AND AUGUST 1969
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
a s p e r c e n t a g e of
d e a l e r c o s t 1/

Maturities
Over 36
25-30
31-36
24 months
months
months
months
or l e s s
S e p t . 1 Aug. S e p t . 1 Aug. S e p t . 1 Aug. S e p t . 1 Aug.

Total
Sept.

1

Aug.

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

7.0
1.6
1.4
0.8
0.8

6.8
1.8
1.7
1.0
0.7

1.1
0.6
0.5
0.2
0.2

1.1
0.5
0.7
0.4
0.3

19.6
16.2
25.0
15.3
8.8

17.3
16.6
25.3
15.5
9.2

0.1
0.1
0.2
0.2
0.3

0.2
0.2
0.3
0.2
0.2

27.8
18.5
27.2
16.5
10.1

25.4
19.2
28.0
17.1
10.4

11.4

12.1

2.7

2.9

84.9 83.9

1.0

1.1

100.0

100.0

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

15 .1
6.4
4.8
1.2
2.0

12.6
4.9
4.1
0.8
1.5

2.6
1.4
1.7
0.6
0.3

2.7
1.8
2.2
0.3
0.3

20.4 21.4
14.1 15.2
19.2 1 9 . 9
4.9 4.8
4.0 5.1

0.4
0.2
0.3
0.1
0.1

0.3
0.3
1.4
0.1
0.1

38.6
22.0
26.0
6.8
6.3

37.0
22.1
27.6
6.0
7.0

29.5

23.9

6 .6

7.2

62.8 66.7

1.0

2.1

100.0

100.0

8.7
2.6
2.1
0.9
1.0

8.0
2.4
2.2
1.0
0.9

1.4
0.8
0.8
0.3
0.2

1.4
0.8
1.0
0.4
0.3

19.7
15.7
23.8
13.0
7.8

18.1
16.4
24.2
13.3
8.3

0.2
0.1
0.3
0.2
0.2

0.2
0.2
0.5
0.2
0.2

30.1
19.2
26.9
14.4
9.2

27.8
19.8
27.9
14.8
9.7

15.3

14.5

3.5

3.8

80.2 80.4

1.0

1.3

100.0

100.0

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

_ l / C o n t r a c t b a l a n c e e x c l u d e s 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 per c e n t .
NOTE: D i s t r i b u t i o n s f o r September and August a r e d e r i v e d from r e p o r t s of 104 b a n k s ,
53 of which r e p o r t e d d e a l e r c o s t r a t i o s a s w e l l a s m a t u r i t i e s . The September m a t u r i t y
d i s t r i b u t i o n f o r new c a r s shown on pages 1 and 2 i s b a s e d on 3 5 , 0 0 0 c o n t r a c t s ,
24,000 p u r c h a s e d and 11,000 d i r e c t . The c r o s s - c l a s s i f i c a t i o n on t h i s page i s b a s e d
on 16,000 c o n t r a c t s , 13,000 p u r c h a s e d and 3 , 0 0 0 d i r e c t . The d a t a 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 banks and 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 s i n c e c o m p o s i t i o n of t h e group of banks changes from 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 .




^ 7
L.4.2

-4DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS ( c o n t i n u e d )
SEPTEMBER 1969 AND AUGUST 1969
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 1/2/

Maturities
I Over 24 j
12 months
13 - 1 8
19 -24
less
months
months
months
S e p t . | Aug. S e p t . J Aug. S e p t . 1 Aug. 1 Sept . | Aug. 1

Tota 1
Sept • i

Aug.

r

16.1
13.7
21.0
16.6

PURCHASED PAPER
80% or l e s s
817, t o 90%
91% t o 100%
101% t o 110%
Over 110%
Total

4.3
0.9
1.6
1.2
2.1

3 .5
1 .0
1 .6
1 .1
2 .6

1.9
1.4
1.7
1.4
3.1

2.1
1.0
1.8
1.2
3.2

6 .2
5 .5
6 .8
6 .2
10 .0

5.4
5 .5
6.9
5.3
10.5

10.1

9 .8

9.5

9.3

34 .6

33.6

r
i

5 .2
6 .7
10 . 1
8 .7
.0
45

.8

j 5.2 I
i 6.2 i
10.7 •
j 8.9 :
116.3 i

-7
14.5
20.2
17.5

V.:

,
i
;

c

-'

i 100.0

1 100.0

; 7.8 !
35.8
i 4 . 6 j 14.8
I 9 - 1 1 27.6

32.8
16 .3
28.6
9.:

j47 . 3

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

j

10.3
2.1
3.0
1.1
1.2

8 .1
2 .0
4 .6
0 .7
1.7

4.6
1.8
3.3
1.0
2.2

5.7
2.9
3 .3
1.2
1.7

13 .2
6 .5
12 .4
4 .5
4 .6

11.3
6.7
11.4
3.8
5.0 |

17.7

17..2

12.9

14.9

41, . 3

38.2

7 .6
4.4
8 .9
3 .3
4 .0

1 3.4
; 4.8

9.9
11 . 0

j 2 8 .1 | 2 9 . 8

| 100.H

:
,

13.?

. iOO.i

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

4. 6

5 .9
1.2
2.0
1.1
1.9

2. 3
1. 0
2.4

2.6
1.5
2.2
1.3
2.9

2.9
1.5
2.2
1.2
2.8

8. ,1
5 .,8
8. 3
5. 7
8. 6

12.1

11. 5

10.4

10.6

36. 3

1 . .3

6.8
5.,9
5 .8
6.,1
8.0
9. 8
4.9
7. 3
9.2 jl2. 1
34.7

! 5.8

|

i 5-8 i
110 .4 |
I 7.6 j
|13.6 !

4 1 . 1 143.1

22 M

:o.i

14 .6

•

22 . 1

j

15 .5
.4

14.4
22.8
14.8
27.o

100.0

; ion.n

25

V C o n t r a c t b a l a n c e e x c l u d e s 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/Wholesale 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 "buying vaw. "
a s 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 f o r September and August a r e d e r i v e d from r e p o r t s o i 104 b a n k s ,
50 of which r e p o r t e d d e a l e r c o s t r a t i o s as w e l l a s m a t u r i t i e s . The September m a t u r i t y
d i s t r i b u t i o n f o r used c a r s shown on pages 1 and 2 i s based on 24,000 c o n t r a c t s ,
1 6 , 0 0 0 p u r c h a s e d and 8 , 0 0 0 d i r e c t . The c r o s s - c l a s s i f i c a t i o n on t h i s page i s based
on 11,000 c o n t r a c t s , 8 , 0 0 0 p u r c h a s e d and 3,00C d i r e c t . The d a t a a r e not 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 banks and a r e not comparable with 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 from 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 .