AUSTRALIANS AND HIRE-PURCHASE
Keeping Savings “For Rainy Dav” (From Our Oum Reporter) WELLINGTON, Feb. 11. Sixty per cent, of Australians with hire-purchase commitments had money m the bank sufficient to cover their outstanding debts, according to a recent survey When asked why they did not pay off their 'hire-purchase debt they replied: “We must keep our savings for a rainy day.” This was reported to the annual conference of the New Zealand Association of Economists by Mr D. Finley, of 1.C.1.A.N.Z., during a discussion on the economics of hire purchase. Dr. Conrad Blyth. director of the New Zealand Institute of Economic Research, said: “Another reason is to ensure service from retailers. As long as a purchaser still owes money on a consumer durable a retailer will be anxious to keep the customer’s good, will.”
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Press, Volume CI, Issue 29745, 12 February 1962, Page 17
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134AUSTRALIANS AND HIRE-PURCHASE Press, Volume CI, Issue 29745, 12 February 1962, Page 17
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