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Lot) J j B O A R D OF GOVERNORS OF THE F E D E R A L R E S E R V E S Y S T E M O c t o b e r 13, c. 2 .• •DSCO1 / \ v&uJ 4U //A- b U3j Alls 1B Y D I R E C T A U T O L0A1*S ( Q 1970 ^ o t COMMERCIAL BANKS August July 1970 1970 Three months ending August* 1970 I 1969 NEW CAR CONTRACTS Per cent of 24 months contracts written or for: less 25-30 months 31-36 Over months 36 m o n t h s Contracts written Median for loan/value 24.6 24.6 25.2 23.8 6.1 5.9 68.9 69.0 6.2 68.2 69:6 0.4 0.5 0.4 87.5 87.5 cent of 12 m o n t h s ratio contracts written or . 0.5 36 m o n t h s : USED CAR Per 6.1 87.1 CONTRACTS for: less 18.3 16.8 17.6 15 .7 __ 13-18 months 14.3 13.4 13.8 13.5 19-24 months 34.7 35.3 34.9 35.5 Over 32.7 34.5 33.6 35.2 87.6 88.4 90.9 All 24 months used Median car contracts: loan/value •Unweighted ratio arithmetic mean D e t a i l s m a y not add to 90.5 of the three monthly totals because ratios. of rounding. LA.2 5? 7 L.4.2 -2DEALER AUTO LOANS BY COMMERCIAL BANKS (PURCHASED PAPER) Three months August ending August* 1970 1970 NEW CAR Per cent of contracts written 24 m o n t h s or 25-30 months 31-36 months O v e r 36 m o n t h s Median for loan/value 1969 CONTRACTS for: less Contracts written I 12.1 3.1 12.5 2.9 12.6 2.9 11.8 2.7' 83.6 1.2 83.3 1.3 83.3 1.2 84.1 1.4 92.7 92.5 92.2 92.9 36 m o n t h s : ratio USED CAR CONTRACTS Per cent of 12 m o n t h s contracts written or for: less 12.0 11.4 11.5 9.6 13-18 months 11.1 11.3 10.7 8.9 19-24 months Over 24 months 30.9 46.1 30.3 J 47.0 30.5 47.3 31.0 50.4 98.2 98.3 100.1 All used Median car contracts: loan/value ratio ^Unweighted arithmetic mean Details may not add to 98.6 of the three monthly totals because of ratios. rounding. L.4.2 -3DfiALER C O S T R A T I O S A N D M A T U R I T I E S O N A U T O M D B I L E I N S T A L M E N T LOANSAUGUST 1970 A N D JULY 1970 NEW CARS (Percentage 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 cost 1/ 24 months o r less Aug. 1 July 25-30 months A u g . | July Maturities Over 36 31-36 months months Aug. J July Aug.| July 1 Total Aug. 1 July PURCHASED PAPER 8 0 % or less 8 1 % to 9 0 % ; 91% ! | 101% Over | 100% to to 1 1 0 % 110% Total 7.6 7.3 1.8 1.9 2.1 1.2 0.9 0.9 16.5 17.5 0.2 0.2 25.5 0.7 0.7 0.3 18.1 23.8 0.2 0.6 25.9 20.8 14.9 0.3 8.7 0.1 0.1 0.5 0.2 0.2 21.3 0.1 18.4 24.1 15.7 8.2 27.1 17.0 9.1 27.1 16.5 9.7 83.0 82.9 1.3 1.2 100.0 100.0 0.3 0.3 0.1 0.1 0.2 36.5 21.5 28.0 36.4 25.0 26.0 7.4 4.0 7.2 3.4 1.7 0.7 0.5 0.7 0.7 0.3 0.2 12.4 13.1 3.3 2.8 2.3 1.2 3.0 1.5 1.1 I DIRECT LOANS | 8 0 % or less 11.2 & | 8 1 % to 9 0 % 9 1 % to 1 0 0 % 5 .9 12.0 6.2 1 4.1 4.2 1 0 1 % to 1 1 0 % Over 110% 1.1 0.9 1.1 0.8 1.5 1.0 0.3 1.3 0.8 0.1 Total 23.9 24.8 6 .4 6.8 I 1 8 0 % or less 8 1 % to 9 0 % 8.4 ! 91% 8.4 2.8 2.2 0.8 0.6 1.1 0.8 1.5 1.0 0.9 0.4 0.2 15.1 15.8 4.0 % I ' 22.7 14.3 22.4 5.3 21.1 17.1 20.3 o.i * 2.8 5.4 2.5 69.2 67.8 0.5 0.6 100.0 100.0 1.4 17.9 0.9 17.5 0.9 23.7 13.3 0.4 0.1 • 7.0 18.3 17.8 22.9 0.2 0.2 0.5 0.2 28.0 0.1 21.4 27.3 14.7 7.9 28.4 21.8 26.8 7.2 0.2 0.1 0.4 0.1 0.1 3.7 79.4 1.1 1.1 100.0 * 1 TOTAL j •i to 1 0 0 % 1 0 1 % to 1 1 0 % Over 110% , Total VContract * Less balance excludes than one-tenth of one 2.9 2.6 f i n a n c e and insurance 79.8 12.7 14.3 8.3 100.0 charges. per cent. NOTE: D i s t r i b u t i o n s for A u g u s t and J u l y a r e d e r i v e d f r o m r e p o r t s o f 1 0 4 b a n k s , 5 3 of w h i c h 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 August maturity d i s t r i b u t i o n for n e w c a r s s h o w n o n p a g e s 1 and 2 is b a s e d o n 3 2 , 0 0 0 c o n t r a c t s , 2 2 , 0 0 0 p u r c h a s e d and 1 0 , 0 0 0 d i r e c t . T h e c r o s s - c l a s s i f i c a t i o n o n this p a g e is b a s e d o n 1 4 , 0 0 0 c o n t r a c t s , 1 1 , 0 0 0 p u r c h a s e d and 3 , 0 0 0 direct. The data are not intended to b e e s t i m a t e s for a l l c o m m e r c i a l b a n k s and 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 the g r o u p of b a n k s c h a n g e s f r o m m o n t h to m o n t h . Details may not add to t o t a l s b e c a u s e o f r o u n d i n g . . w L.4.2 __ -4DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) AUGUST 1970 A N D JULY 1970 USED CARS (Percentage d i s t r i b u t i o n of c o n t r a c t s ) Contract as Maturities balance 12 m o n t h s p e r c e n t a g e of wholesale value 1/2/ Aug.| July 13-18 months 19-24 months A u g . 1 July Over 24 Total months A u g . 1 July A u g . 1 July Aug. 1 July PURCHASED PAPER 8 0 % or 81% less to 9 0 % 9 1 % to 1 0 0 % 1 0 1 % to 1 1 0 % Over 110% Total 3.6 1.7 4.1 2.1 2.2 1.7 2.3 1.7 4.4 5.3 5.5 5.3 4.8 6.4 5.3 6.0 15.1 15.1 17.2 15.1 4.3 2.8 1.8 2.1 6.5 6.1 10.5 23.0 21.6 0.9 2.0 1.1 2.0 1.8 3.0 1.5 3.3 5.3 8.5 5.0 8.2 9.7 15 .5 10.6 10.5 14.5 17.8 29.1 18.1 28.0 12.5 12.2 10.5 10.9 30.0 30.1 46.9 46.8 100.0 100.0 DIRECT LOANS 8 0 % or 81% 91% less 7.9 3.8 5.4 4.8 9.2 2.8 2.5 3.0 3.8 1.1 1.2 7.7 12.8 2.9 4.0 0.9 1.8 23.0 19.4 14.9 5.1 2.1 5.2 2.6 3.2 2.1 4.1 1.2 3.2 2.9 1.3 2.4 1.5 2.3 2.6 14.3 11.9 8.3 to 9 0 % to 1 0 0 % 3.1 1 0 1 % to 1 1 0 % Over 110% Total 3.7 2.0 6.0 1.8 13 3 7.2 5.3 8.9 6.1 30.1 18.9 34.5 7.9 7.2 3.7 2.7 8.0 3.4 2.8 10.2 3.8 3.4 3.3 2.6 27.7 9.9 13.3 25.0 10.0 10.1 35.9 38.3 26.1 28.8 100.0 100.0 19.7 16.2 24.4 22.2 16.6 22.6 13.0 20.4 TOTAL 8 0 % or 81% less to 9 0 % 9 1 % to 1 0 0 % 1 0 1 % to 1 1 0 % Over 110% 15.7 Total 1/Contract balance excludes finance and 3.0 1.9 2.6 5.8 6.0 7.7 6.0 5.6 6.0 8.4 7.3 9.5 6.3 6.1 9.8 1.4 2.7 4.8 6.8 4.6 6.8 7.9 11.6 11.1 15.4 24.3 22.8 11.6 31.8 32.4 40.6 41.7 100.0 100.0 8.4 15.8 insurance charges. _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 , " "as as i n d i c a t e d b y u s e d c a r g u i d e s . i s , " or "buying value" NOTE: D i s t r i b u t i o n s for A u g u s t a n d J u l y a r e d e r i v e d f r o m r e p o r t s o f 1 0 4 b a n k s , 4 9 of w h i c h 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 as m a t u r i t i e s . The A u g u s t m a t u r i t y d i s t r i b u t i o n for u s e d c a r s s h o w n on p a g e s 1 and 2 is b a s e d o n 2 4 , 0 0 0 c o n t r a c t s , 1 5 , 0 0 0 p u r c h a s e d and 9 , 0 0 0 direct. T h e c r o s s - c l a s s i f i c a t i o n on this p a g e is b a s e d on 40,000 contracts, 7,000 purchased and 3 , 0 0 0 d i r e c t . The data are not intended to b e e s t i m a t e s for a l l c o m m e r c i a l b a n k s a n d a r e not c o m p a r a b l e w i t h p r e v i o u s releases since c o m p o s i t i o n of D e t a i l s m a y not add the group of banks changes to t o t a l s b e c a u s e o f r o u n d i n g . from month to m o n t h .
@FedFRASER