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Motor
Vehicle Loans and Leases of Finance Companies
The
Federal Reserve gathers data on motor vehicle loans and leases from
independent finance companies and finance company subsidiaries of bank
holding companies, but not from retailers and banks. The data include
both securitized and managed receivables. The accompanying chart shows
the dollar amounts of loan and lease contracts outstanding at these
finance companies from the end of 1995 to February 2000. Over this
period, the share of lease financing of motor vehicles by finance
companies has declined from a peak of 45 percent at the end of 1997 to
37 percent at the end of February 2000 (the latest data available). Only
a small portion of motor vehicle financing is securitized, possibly
because of the unfamiliarity of the market with these financial
instruments.
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