INSTALMENT BUYING

Wanganui Chronicle, Volume 71, Issue 237, 6 October 1928, Page 9

INSTALMENT BUYING

BUSINESS MAN’S VIEWS ADDRESS TO ROTARY CLUB (Special “Chronicle” Reporter.) AUCKLAND, October 3. 4 ‘l am not suggesting that the instalment system oi buying goods is the royal road to success, but 1 consider aas ‘made good/ and has come iu stay,” said Air 11. T. Thomas, an Auckland business man, in an Address on “The Practical Side of Instalment Seiling,” given at the Rotary Club luncheon. Air Thomas said the system had formerly beeu confined to such articles as pianos, where the initial payment was large and where the article would have certain value if it fell back on the seller’s hands. The system had grown and there was no doubt it was tremendously popular with the buying public. Probably the most widely-used argument against The method was that it encouraged the use of luxuries and extravag at buying. It was stated the country was passing through a period of extravagance, largely due to the instalment system. This was not so, and he considered th c system of giving credit had far more weaknesses than instalment selling. Speaking of the advantages of the instalment buying, Air Thomas said buyers wcr e obliged to arrange week by week their incomings and outgoingsit must also be obvious that the public must be pleased, as thc time-pay-ment trader was equally as anxious as any other to keep thc goodwill of his customers. If thc ‘nstalments were kept within reasonable limits, buyers were actually encouraged in thrift.