SECOND-HAND CAR SALES
Sir, —I recently purchased from a dealer a second-hand car. which was financed through a well-known car finance company. I signed a contract agreeing to pay 8 per cent, on the outstanding balance of £212. I was able to pay the balance off within four months and found on squaring up that I had to pa” £24 interest. Allowing for interest to be charged for six months, this works out at approximately 221 per cent, per annum. Have I any redress? If not. I take this opportunity of warning other prospective buyers of the evils of this system, whereby this company can charge 221 per cent, interest and get av<y with it! —Yours, etc., BITTEN. July 13, 1948.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19480714.2.12.3
Bibliographic details
Press, Volume LXXXIV, Issue 25546, 14 July 1948, Page 2
Word Count
121SECOND-HAND CAR SALES Press, Volume LXXXIV, Issue 25546, 14 July 1948, Page 2
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in