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Ill
riot for publication
L.4.2
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
November 9, 1959
DECONTROLLED AFTER SIX MONTHS
MATURITIES ON AUTOMOBILE INSTALMENT LOANS
SEPTEMBER 1959 AND AUGUST 1959
(Percentage distribution of contracts)
Maturities
1
j
New cars
24 months or less
25-30 months
1
31-36 months
I
Over 36 months
Total
Used cars l/
12 months or less
13-18 months
19-24 mmths
Over 24 months
Total
1
j:
j1
j
|
I
1
I
Total
! Aug.
Sept.
24.4
10.3
65.O
0.3
17ET.7J
15.8
16.7
42.7
24.8
100.0
j
Purchased
Paper
Sept.
Aug.
25.7
11.3
! 62.5
0.5
]
j TOUTS
18.6
8.4
72.6
0.4
TOCTTJ
!
!
| 15.8
15.8
! 41.6
26.8
I 100.0
I
11.4
14.0
44.3
30.3
1 100.0
1
1
19.5
8.8
71.1
0.6
Direct
loans
Aug.
Sept.
41.1
15.9
43.0
imru
1UU.0
12.7
12.6
42.7
32.0
100.0
28.0
24.3
38.3
9.4
100.0
40.7
17.4
41.7
0.2
24,8
24.9
38.6
11.7
100.0
*Less than one-tenth of one per cent.
l/Figures are predominately for late model used cars but include data from
a few banks for all used cars.
NOTE: Distributions are based on tabulations of data from 138 banks for
August and September and are not intended to be estimates for all commercial
banks. In September reports covered about 32,000 contracts on new cars, 24,000
purchased and 8,000 direct, and 18,000 contracts on used 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.
For distribution according to maturities and contract balance as a percentage of dealer cost, see following pages.
f-
IIX.
•
Not for publication
L.4.2
- 2 DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
SEPTEMBER 1959 AND AUGUST 1959
NEW CARS
(Percentage distribution of contracts)
Maturities
Over 36
31-36
25-30
Contract balance 24 months
Total
months
months
months
or less
as percentage of
Sept.
| Aug. Sept. | Aug.
Sept.
I
Aug.
Sept.
!
Aug.
Aug.
Sept.
dealer cost l/
PURCHASED PAPER
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total
11.6 13.0
3.2 2.9
2.6 3.1
0.6 0.7
0.3
0.5
18.5 20.0
3.3
2.1
1.8
1.2
0.3
2.9
2.3
2.3
1.1
0.2
14.3
16.2
26.3 23.2
12.5
U Jk8
8.7
8.8
72.7 71.0
30.7 30.2
21.9 21.5
30.7 28.7
14.3
11.5
. 5.2
5.3
0.1
0.1
0.1
0.1
0.2 100.0 100.0
DIRECT LOANS
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total
80% or less
81% to 90%
91% to 100%
101% to 110%
Over 110%
Total
28.2 27.9
5.4 7.5
6.6 4.0
1.2
0.8
8.9
5.0
3.4
1
41.9 42.4
15.2 16.9
3.7 4.1
3.3
3.5
0.7 0.7
0.8
0.5
23.6 25.8
8.9
0.8
JLO
?
18.4 20.2
4.5
2.7
2.1
1.1
4.4
3.1
2.8
1.0
±2
10.7 . 11.8
15.6
9.3
10.6
3.4
-0J
39.6
TOTAL
15.8
14.9
22.9
8.4
13.2
8.9
8.2
2.8
4.2
0.1
37.3
0.1
65.6
62.3
0.1
52.8
19.7
20.6
50.0
21.6
16.6
4.4
J i
0.1 100.0 100.0
14.0 1 *
0.1
14.3
19.4
10.0
4.6
0.1
0.1
0.1
35.5 35.3
21.428.5 5 : 3
10.2 11.7
4.4
5.9
100.0
100.0
1/ Contract "balance does not include finance and insurance charges.
* Less than one-tenth of one per cent.
NOTE: Distributions are "based on tabulations of data from 82 banks for August
and September and are not intended- to be estimates for all commercial banks. In
September reports covered about 17,000 contracts on new cars, 13,000 purchased and
4 000 direct. Since composition of the group of banks changes from month to month,
data are not comparable with previous releases.
- 3 -
Not for publication
L.k.2
DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS (continued)
SEPTEMBER 1959 AND AUGUST 1959
USED CARS
(Percentage distribution of contracts)
Maturities
Over 24
I 19-24
12 months
13-16
Contract balance
total
months
1 months
or less
months
as percentage of
[Aug. Sept. | Aug. Sept.i Aug.
wholesale value l/ 2/ Sept. 1 Aug. Sept. I Aug. { Sept.
PURCHASED PAPER
80$ or less
81# to 90#
91# to 100#
101% to 110#
Over 110#
Total
4.1 I 5.0
1.9
1.9
1.7 1.8
2.0 | 2.3
1.4 I 1.7
11.1 112.7
3.2 ! 3.1
7.1
7.7
2.2 I 2.1
7.6
7.3
2.6 1 2-5 11.3 10.7
2.1
8.0 7.8
1.9
10.6 9.3
2.7
1™
12.6 I 12.1 45.2 42.2
3.0
5.3
10.1
6.3
6.4
4.1
5.4
9.1
7.3
7.1
18.0
17.0
25.7
18.2
21.1
19.3
16.7
24.1
19.5
20.4
31.1 33.0 100.0 100.0
DIRECT LOANS
80# or less
81# to 90#
91# to 100#
101# to 110#
Over 110# ,
Total
21.5 18.4
3.4
1.9
4.2
3.1
1.1 1.7
0.7 1.2
11.7 113.3
3.6 1 3.2
4.8 I 4.9
2.2 2.1
1.0
1.7
16.0 11.8
7.8 7.4
8.2
8.3
3.6 4.7
6.1
_2.3
2.1
2.4
2.2
0.8
0.4
30.9 26.3
23.3 |25.2
37.9 38.3
7.9 10.2 100.0 100.0
3.0
2.1
2.6
0.7
1.8
51.3
17.2
19.4
7.7
4.4
46.5
14.6
18.9
9.2
10.8
TOTAL
80# or less
81# to 90#
91# to 100#
101# to 110#
Over 110#
Total
9.1
2.3
2.5
1.7
1.2
8.7
1.9
2.2
2.1
1.6
16.8 j16.5
5.9
2.4
3.2
2.1
2.1
10.1 8.4
7.7 7.3
10.4 10.0
7.0
6.7
8.2 8.4
15-7 15.7
43.1 41.1
5.7
2.6
3.2
2.0
2.2
2.7
4.5
7.8
4.7
4.7
3.8
4.5
7.3
5.5
5.6
27.6
17.1
23.9
15.1
16.3
26.8
16.1
22.7
16.7
17.7
24.4 26.7 100.0 100.0
1
buying value"
2/ Wholesale value represents "average wholesale," "as is.
as indicated by used car guides.
NOTE: Distributions are based on tabulations of data from 69 banks for August
and September and are not intended-to be estimates for all commercial banks. In
September 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.
@FedFRASER