INTEREST ON H.P. SALES
Mr Nordmeyer
Critical
(N.Z. Press Association)
AUCKLAND, April 25. Suggestions that high rates of interest on hire-purchase sales were justified because of the risks taken by firms did not bear examination, the Leader of the Opposition (Mr Nordmeyer) said at Helensville last night. “What risk do hirepurchase firms take?” he asked. “Before anybody gets anything on hire-purchase the Creditmen’s Association is consulted and the firm knows in advance whether a person is likely to pay or not. “I am not against the principle of hire-purchase, but I am convinced rates of interest must be controlled. In addition, agreements signed by customers should show clearly the cost of the article and the amount added for hire-purchase charges.
“This might make people look twice before getting things on hire-purchase,” he said. “And that could be a good thing.”
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Bibliographic details
Press, Volume CII, Issue 30115, 26 April 1963, Page 14
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140INTEREST ON H.P. SALES Press, Volume CII, Issue 30115, 26 April 1963, Page 14
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