Indianapolis Times, Indianapolis, Marion County, 2 April 1950 — Page 20

Local Used Car | Justry a Headache

Organized Trade Protesting ‘Come-On’

. " By THE TIMES AUTO EDITOR 1 THE USED CAR business is having a little trouble with, the! . "no down payment” come-on. And the ‘Only $5 Down” deal is Just as bad.There is a little of this sales- -hungry bait being dangled under the noses of used car prospects in Ingisnapolia, but the organized __8uto trade is protesting. ~The -older, more conservative dealers are warning the, “Hodown gram and that restrictions were payment” dealers that they are burdensome to the industry. i breeding trouble for themselves “We can. do our financing ini!

and for the industry. : a sane and orderly fashion with-| : The plain truth about this type Out governmental restrictions,” This new Pontiac Station Wagon now shuttles customers from Hedges Pontiac, Inc., 3215 E . Washington St., to and from the ng wiih area. leave cars for service in the morning, pick.

"of selling is that it coaxes in the the used car men sald. poor credit risks. The sound deal- , them up on the way home. Shown are Leo Masse, sa $' manager (left), and Edmond Haus, service

ers reason that a man who makes Sloppy’ Housekeeping manager. ¢ ~& Purchase TunnIng Irom $300 or AND NOW THAT the regula: go - of Complete: $500 to $1500 ought to have a uons have been lifted, what do Borg: Wamer's Shower Worse, Profits Reveoled : WITH LATEST

little cash to put into the deal. we have? No down payments, pay The ~ Stewart - Warner Corp:(~ Net profit amounted to $1.67

AR I

And that is what the bankers] It was pointed out by Mr. I & ~-preach.. They -don't go. in for the Hanika. that . the - housekeeping a leh-operates: its South: Wind! per-share. of: $5: par-value: > = _ “no down payment” technic. They methods ini some segments i nual ‘Rep iit : Eo in “Indianapolis, turned mon stock, and cash net ® SHAMPOO and SET figure if a man buys something the industry “have become pretty {in a sales total of $54,600,713, totaled $2,163,108. 8 he ought to own at least a part! sloppy” ‘so far as financing is con- [James 8. Knowlson, resident| The $54 filion 3 NO EXTRAS . of it. Thiswmakes.the buyer take cerned. ; - The Borg-Warner Corp., with! 4 chal on) i en e m sales figure i , care of the property. And some desl |plants in Muncie, New Castle and 20d chairman, reve n the was a drop from $72,534,085 in ing Op els ane Frediet Auburn, ‘this year will supply SOMPany’s 44th annual report. 1948: s e a e presen it in Credit Is Checked {automatic transmissions for two, T : ! . : . loose methods of financing Per“ hig auto manufacturers. ' CROSSWORD PUZZLE cannot tell you the 1 name of the BUT IF A MAN is driving a sist, Uncle 8am will have his sed; but ear in which he has little or no hand back in the used car busi- This was brought out in the “nationally known supplies u. money, he reasons it isn’t really ness with regilations governing annual Feport of BW President... dcaom i= Caniunction we can whisper that this permanent his, so he may be inciihed .to the amount of the down payment. | When in full production haze! EN ’ a a om ~~ r ~ “wave would cost you twice as much in treat it a little worse than if he — Successtul Wealers and finan new at transmissions will 1i—8hort jacket aml BA 5 “any beauty shop. Every permanent owned it. - (companies look down their noses! provide material’ inerease in ne Hindu 1m hard 3 * guaranteed.

The used car dealer who lets a at excessive financing terms. Borg-Warner's: sales volume to : ord a Greek | : You Must Be Satistied! : » < Se,

8&0 without, A, little Jfomethin 1 ve, LAutomotive industry,” Mr. j1aor : a8 written y tr sek letter | Fisten wheres wa 7 3 AN tna LA : J Xe ry 1% Vy na TE “The ‘fall sales bene- | 3 BI Be a > ER AR Tee Fr We

. buyer carefully, or at. least he THEY KN ro Fo IeAR ION Sow be ; : | ow THAT on new | Wyn Prot : i should-if-he:is-a sound business-| {cars one third down and 24 ably appear Tate in 1950, 1=Period ree APOE CXAMDIY. re INO APPOINTMENT NECESSARY man. months to pay Is usually justified. “Negotiations for-the use of our tt ¥ Amend : and = the man LOBE That meaiis the car will be two. automatic transmissions are now 2a at vhus time . : . : eredit, chances are he also has! 26— Negation 3 ; . ¢ 8 {yéars old when the buyer in. process with other motor car) 3 riaome =: a : ; you do not need a permanent, give or : EERE : Eh

TEN ARE i

All State Licensed Graduate Operators ot 0

depending on the Credit is easy. all aj Sen 8 ro i Mr. Davis’ report ‘disclosed a.

buyer has -to ‘show is that he] T 1949 sal 1 f $252,366,420, he direction of the “no down| ales volume of 32h! has a job, and has been working! payment” practice is bad fn itselr, [8nd a consolidated ‘net income [ 3 : While supply lasts! $1 ‘value Primrose House at is steadily, or that he hasye'y goof enoush it could) Of $22,046,885 after deductions. for ; eet of Bottsomas 11 Hand Lotion given with every Permanent. Get enough household goods or other extend to mew cars. And—if that] depreciation, research and de- ‘ : . | % vr security to. make, his long loan | happened, the used car business) | velopment expense, taxes, old age! . ; _Youls Now! -800d:-- Would be wearing bandages for a 10 unemployment insurance; etc. 1 : : : ’ | "This reflects a more normal | Want Re ‘W' Back? |'o8 time. - : g- c | If 1t takes no money to buy a|Yolume of sales in 1949, in con- | ; i : i : i USED CAR dealers with years new car, then why buy a used|{I8st t0 the boom level of ne : Good for fine, bleached, grey or hard-to-wave hair. Exeelion for Shitdres. owever,

of experience still say, according car? It works like that, the auto MT. Davis said. ; to Thomas E. Hanika, manager men say. |sales and income remained on / y ~of the Indianapolis Automobile] - Then thers is this important NEI level—somewhat higher, in Trade Association, that there io angle. Too small down payments, (2ct. than had been estimated.” ef-s go ie Ll. 0527

Be substitute dor rT gh long terms, actually mort- Bui k S I Hik od . ; an at includes “no down |gage the buying power of the fu- BUIC ales : payment” deals, |ture and hurt car sales two or Times Special 801. ROOSEVELT BLDG. 6th Floor When Regulation W was in three years ahead. ; FLINT, Mich. .ApE.1-—Buick's! s ne id a er t— : effect It was the used car trade, The finance companies now] sales have jumped 68 per cent : _ Corner Iifinois and Washington Sts. ? Estab. 20 Years Mr. Hantka recalls, which wanted the score. They watch buying over last year's figures with 100,-| T Left f Elevat the regulations taken off. Used habits carefully, and they are as 000 cars already sold in 1950, O.| ? , : Li : urn rom Elevator car men insisted the regulation interested as the buyer, in his L. Waller, general rales manager. was impeding the recovery pro- ability to pay for his car. sald today.

These hungry

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