Overdue H.P. up 50 p.c.
PA Wellington Department of Statistics figures have shown that while the value of hire purchase agreements for the year ended March, 1986, dropped, the amount of hire purchase payments owing that were overdue rose by almost 50 per cent. Total advances for the year ended March, were $1297.1 million — a drop of $70.6 million on the previous March year.
However, over the same period, the amount owing under hire purchase agree-
ments in March, 1985, rose from $1806.3 million to $2045.4 million in March, 1986. The overdue amount in 1985 was 2 per cent, but a year later it was 2.9 per cent, almost a 50 per cent leap.
Advances on hire purchase for motor buses, trucks and tractors totalled $4O million in the March quarter, down 35.2 per cent on the same quarter last year. Plant machinery advances totalled $25.2 million, down 25.2 per cent on the March quarter, 1985.
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Press, 8 July 1986, Page 31
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156Overdue H.P. up 50 p.c. Press, 8 July 1986, Page 31
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