New-York tribune., 1916-02-27
FORECAST OF THE 1915 MOTOR RACING SEASO
FINANCING THE
CAR PURCHASER
Chalmers Partial Payment
Plan Designed to Assist
Dealer and Owner.

Financing the Motor Car Buyer
should be the title of a new plan just
inaugurated by the Chalmers Motor
Car Company. and as it practically
amounts to this, it can be set down as
epoch-making," says Manager George
Stowe of the Chalmers company's New
York branch "The new scheme is 10
be applied to the Chalmers SiX-3O,
which sells at Sl,050, T. o. b. Detroit,
for il is at this price of car that
volume of business can be secured TO
defray the cost and incidentally place
in the hands Of thousands of reputable
people the latest wonder creation OF
Hugh Chalmers.
briefly, the plan is nothing else
than "A system Of deferred payments,
perfected to a remarkable degree. All
the bunk, expense and imperfectlons OF
the old system of instalments have
been abolished. Here's the way the
plan works with customer in any
part Of the country: The Six30 Chal-
mers, costing 81, ,050 {. 0. b. Detroit, IL
delivered on payment of the small sum
of $3.50, plus an additional charge OF
S325 30 to cover insurance and interest,".
Eight monthly instalments OF so each
are then provided for.
"Now, it will be noted that the only
difference to the customer is an ITEM
of $3.50, which covers insurance that
would in any event have 10 be paid by
the full cash customer, and interest az
the legal rate of s per cent.
There is no question but that this
plan will be a boon to a great number
Of motorists, for although most OF
them could pay the full amount OF the
purchase price, yet time comes when
IL is an Inconvenience to do so, and,
the latter being the case, why not take
advantage OF the deferred payments
when the accommodation costs but
trife?
"But there is another angle 10 this
Chalmers financial scheme and it is OF
vast importance TO the man who makes
his living through selling motor cars.
The dealer is the one in mind and To-
Gated principally in towns other than
the first class. Each year has seen his
difficulties increase with the local
banks. the latter being opposed to
loaning money on customers notes or
advancing sufficient funds TO the
dealer for the purpose of stocking cars
during the winter months. At one
stroke the new plan emancipates both
dealer and customer and opens up new
vistas for both. Arrangements have
been completed with the Agricultural
Credit Company, of Chicago, one of the
largest and most reliable credit com
panies in the world. to handle all paper
arising from the time sale Of SiX-3O
Chalmers throughout the United
States.
with a view to expanding their
business, automobile manufacturers
have been endeavoring TO devise some
intelligent and economical credit sys
tenn for some time past. Praise must
be given the Chalmers company for
working out their finance plan, as It
offers the solution Of difficulties which
seemed hard TO overcome. Principal
among these is the growing disfayOr
with which banks as a whole look upon
requests for loans from the struggling
dealer with small bank balance.
Chalmers. with the aid Of the Agricul-
tural Credit Company. removes this
handicap, and the dealers borrowing
capacity from now on is only limited
by his own inactivity. New and
changing conditions are confronting
the motor car industry. Chalmers has
adapted himself to them"