Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-09-16
ADOPTS
FINANCE PLAN
Create Company To
Handle Time Paper
Car Purchases

With the production Of the new
Ford car showing a steady increase
each week. the most interesting re-
cent DEVELOPMENT at Detroit was n
announcement Of the authorized Ford
finance plans with the establish
ment Of the principle Of time pay
ments on all Ford products.
The new Universal Credit com
ranv has been created to act Is the
specialized financial institution TO
urovide a uniform and authorized
fime-purchase plan throughout the
United States. The Universal Cred
II company Il Ford controlled and
financed. Officers Of the company
t.ve been established in the new
penobscot building in Detroit and
two branches, Detroit and kansas
CITY. are open for business. As rap
idly as possible q total OF thirty
five branches will be established.
Branches nj New York. Boston. Chi
caeo and Atlanta are organized and
will doing business during
September. These will be followed
by the opening Of r~egionally located
offices in other principal cities from
coast to coast.
NE OUAAEEH&A &AEAAt tWAAE1"N
pIan Of time purchase permits the
owners Of Ford cars to buy them
at lowest possible financing cost
commensurate with sound business
practices.
Already the establishment of the
Universal Credit company has
aroused national interest on the
part OF Ford dealers and Ford pur-
chasers. The Ford dealer welcomes
the creation OF the new company be-
cause il offers him for the first
time a finance plan with the solid
backing Of the Ford Motor company
behind il. The Ford purchaser is
interested because the plan gives
BIN a distinct advantage in low cost
and contemplates the purchase Of
sound insurance protection.
In the latter respect the joint in
Kerests OF the purchaser and OF the
Ford dealer are protected. The plan
includes the purchase by Universal
Credit company Of sound and ade-
uuate fire and theft insurance COW
ering the purchaser, the dealer and
the company. The purchaser receiv-
es a standard form Of policy Of in
Burance providing protection for one
year. These policies are issued by
the Home Insurance company Of
New York, one Of the largest in the
world. The policies provide for set
element based on the actual cash
value Of the car nc time Of loss.
Enumerated among other advan-
fages of the Universal Credit COM
pany plan Of time purchase is the
fact that the company Is aot oper-
ated with the primary and sole pur-
pose Of profit. but il created for
the sound financing Of the Ford
dealer and purchaser. The creation
Of the new company Is expected TO
met ms an added sales tool in the
hands Of the Ford dealer. who will
thereby be able still further 10
carry on the announced Ford policy
81 passing on 20 the consumer ev-
cry possible economy.
Carsten Tiedeman is manager Of
fhe Detroit branch and T.. X. Hill
tom Is manager of the Kansas City
branch.
Universal Credit company announc-
Is the following appointments AZ
the four new branches. which will
eommence to do business during
September: =. II. Howington. man
nRer at Atlanta: W. 3. Marxsen.
manager az Chicago: G. L. Pardee.
Jr.. manager nc New York and Geo.
Harrison. manager az Boston.