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- N o t f o r publication L.4.2 BOARD OF GOVEBNOBS OF THE FEDERAL RESERVE SYSTEM September 11, 1957 DECONTROLLED-AFTER SIX MONTHS mf&ETIES ON AUTO.AfOBILE.INSTALMENT'LOANS JULY 1957 AND JUNE 1957 (Percentage d i s t r i b u t i o n o f c o n t r a c t s ) Maturities New cars 24 months or l e s s 25-30 months 31-36 months Over 16 months To bal Used cars l / 12 months or l e s s 13-18 months 19-24 months Over 2k months Total July Total June 30.7 23.2 32.5 23.4 43.8 100.0 100.0 :U •19.8 '24,1 42.0 • 14.1. 100.0 Purchased Paper June July 19.5 24.4 42.4 ± U . 100.0 ' ' Direct loans July 100.0 'ii 100.0 100.0 49.3 26.9 23.7 0.1 100.0 16.9 21.4 43-7 18-3 100,0 17.2 21.3 44.0 ILL 100.0 26.3 30.0 38.3 5Ji o O 24.9 31.2 38.8 5.1 £OCJO 22.6 21.1 55-8 . 24.6 21.8 48.3 27.9 23.5 1 / F i g u r e s are predominately f o r l a t e model used cars but i n c l u d e data from a few banks f o r a l l used c a r s . NOTE: D i s t r i b u t i o n s are based on t a b u l a t i o n s o f data from 132 banks f o r June and J u l y and are n o t intended t o be e s t i m a t e s f o r a l l commercial banks. I n J u l y r e p o r t s covered about 30,000 c o n t r a c t s on n e < c a r s , 2 1 , 0 0 0 purchased e n d . 9 , 0 0 0 d i r e c t , and 2 6 , 0 0 0 c o n t r a c t s on used c a r s , 1 8 , 0 0 0 purchased and 8 , 0 0 0 d i r e c t . S i n c e composition o f the group of banks changes from month t o month, data are n o t comparable w i t h previous r e l e a s e s . For d i s t r i b u t i o n according t o m a t u r i t i e s and c o n t r a c t balance a s a percentage of d e a l e r c o s t , s e e f o l l o w i n g pages. Not f o r publication - 2 - DEALER COST RATIOS AND MATURITIES ON AIZTOi-DBILE INSTALMENT LOANS L.U.2 JULY 1957 AND JUNE 1957 NEW CARS Contract balance as percentage of dealer cost l / (Percentage d i s t r i b u t i o n o f contracts) Maturities "~ Over 36 31-36 "25-30 TITiSnths months months ninths less "July | June ;uly |June |July | June July June Total July | June PURCHASED P^PER 80% o r l e e s 81% to 90% 91% to 100% 101% to 110% Over 110% Total lit. 7 U.U 3.2 0.9 0.3 23.5 15.9 U.5 3.2 1.2 O.U 25.2 6.8 6.5 7.3 3.1 1.0 2U.7 12.3 I l l . U 11.2 11.7 16.9 17.0 7.9 6.9 3.2 3-1 7.3 5.9 6.9 3.6 0.7 0.1 * 0.2 0.3 2U.lt 3U.7 22.2 27.2 11.7 0.1 0.1 0.1 33.8 22.1 27.3 11.9 It. 7 0.3 100.0 100.0 0.1 51.6 23.0 19.5 U.o 1.9 53.1 22sU 19=9 2.7 100.0 100.0 Ju2 DIRECT LOANS 80% or l e s s 81% to 90% 91% to 100% 101% to 110% Over 110% 32.8 10,7 6.7 0.8 1.1 10.6 6.2 13.1 8.3 8.9 13.0 0.7 0.6 0,8 3U.8 1.1 1.8 7.9 8.9 0,6 5.7 3.9 11 0.2 Total 5.3 3.9 U. 7 0.8 O.U 0.1 15.1 0.1 o.l 9.7 9.5 13.5 5.2 2.U * * 0.1 0.1 U0.3 0.2 TOTAL 80% or l e s s 81% to 90% 91% to 100% 101% to 110% Over 110% Total 21.2 6.2 U.o 1.2 0.5 31.2 %TE: % t ^ i o n s 33.1 8.5 ,7.0 7.7 2.8 0.9 26.9 8.9 J10.6 9.2 6.5 7.5 ,i3:U 6.1 2.8 2.U 0.7 26.U U1.7 0.1 38.6 22.3 25. U 9.6 0.1 0.2 100.0 39.9 22.2 25.1 9.2 _3i* 100.0 I r e ^ b L e r o T S a b u l a t i o n s o f data from 90 banks for June to month, data are not comparable with previous r e l e a s e s . Not f o r publication - 3 - L.k.2 i DEALER COST RATIOS AND MATURITIES ON AUTOMOBILE INSTALMENT LOANS (continued) JULY 1957 AND JUNE 1957 USED CARSI (Percentage d i s t r i b u t i o n of contracts) Contract balance as percentage of wholesale value 1 / 2 / 12 months or l e s s July I June Maturities 13-18 months months July I June July I June Over 24 months July TTune Total July 1 June PURCHASED PAPER 80# or l e s s 81# to 90# 91$ to 100# 101# to 110# Over 110# Total 88| s H M1 5-1 2.3 3.3 1.9 2.7 5.5 2.1 3-3 1.9 2.8 3-0 L2 M 15-3 15.6 19.7 20.2 5-3 12.4 45.8 10.0 9.2 45.0 2.7 22.4 17.3 25.8 16.6 17.9 25.1 18.5 25.6 15.2 15.0 19.2 19.2 100.0 100.0 3.7 4.3 3.5 3.0 ti DIRECT LOANS 80# or l e s s 81? to 90# 91# to 100# 101# to 110# Over 110# Total 16.6 2.8 17.4 4.6 U 1.0 16.4 3.5 2-9 0.8 1.4 25.0 25.O U 1.3 16.8 4.8 4.8 1.9 2X) 14.8 8.8 9.1 3.5 3.1 16.6 9.1 8.6 2.4 2.9 1.5 1.9 1.3 0.3 1.9 1.1 1.1 0.8 0.2 50.3 18.1 18.9 6.8 51.7 18.5 -17.4 30.2 30.3 39.3 39-6 •5.5 5.1 100.0 100.0 8.8 4.1 4.6 2.4 3.3 10.6 8.6 11.4 11.9 9.1 3.1 30.8 17.5 23.7 13.7 14.3 33.0 18.5 23.2 12.4 _1&9 23.2 43.8 100.0 100.0 U TOTAL 80# or l e s s 81# to 90# 91# to 100# 101# to 110# Over 110# Total 23 8.6 2.4 3.2 1.8 2.2 3.2 1.6 2.4 l i 4.9 2^5 3.2 18.2 18.5 22.9 I:? 5.2 a 2.9 2.2 3.6 2.7 3.9 2.8 2.0 43.3 15a 15.0 1:2 1/Contract balance does not include finance and insurance charges. 2/Wholesale value represents "average wholesale," "as I s , " "or buying value" as indicated by used car guides. NOTE; D i s t r i b u t i o n s are based on tabulations of data from $0 banks f o r June and July and are not intended to be estimates f o r a l l commercial banks. In July reports covered about 16,000 contracts on used cars, 11,000 purchased and 5>°00 d i r e c t . Since composition of the group of banks changes from month to month, data are not comparable with previous r e l e a s e s .
@FedFRASER