Consumer Credit Outstanding and Finance Rates, 1980 to 2000

Updated April 11, 2022 | Infoplease Staff

(dollar figures are in billions of dollars)

Type of Credit 1980 1985 1990 1994 1995 1996 1997 1998 1999 2000
Total1 $349.40 $593.20 $789.30 $960.70 $1,096.00 $1,182.40 $1,234.50 $1,301.00 $1,393.70 $1,531.50
Revolving 55.10 124.70 238.60 365.60 443.20 499.40 531.20 560.50 595.60 663.80
Nonrevolving2 294.30 468.50 550.70 595.10 652.80 683.10 703.30 740.50 798.00 867.60
Finance Rates (%)                    
Commercial Banks:                    
New automobiles (48 mos.)3 14.32% 12.91% 11.78% 8.12% 9.57% 9.05% 9.02% 8.72% 8.44% 9.34%
Other consumer goods (24 mos.) 15.48 15.94 15.46 13.19 13.94 13.54 13.9 13.74 13.39 13.90
Credit-card plans 17.31 18.69 18.17 16.04 15.90 15.63 15.77 15.71 15.21 15.71
Finance Companies:                    
New automobiles 14.82 11.98 12.54 9.79 11.19 9.83 7.12 6.30 6.66 6.61
Used automobiles 19.10 17.58 15.99 13.49 14.48 13.53 13.27 12.64 12.60 13.55
NOTE: Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate. Estimated amounts of seasonally adjusted credit outstanding as of end of year; finance rates, annual averages.
1. Billions of dollars, 349.40 represents $349,400,000,000.
2. Comprises automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured.
3. For 1980, maturities were 36 months for new car loans.
Source: Board of Governors of the Federal Reserve System, Federal Reserve Bulletin, monthly; Statistical Abstract of the U.S., 2001; www.census.gov/prod/2002pubs/01statab/banking.pdf .

 

 

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