The Republican. [volume] (Oakland, Md.) 1877-current, 1929-06-06
NEW FORD FINANCE co.
MAKES 1T EASIER TO BUY
Universal Credit Co. Developing
Organization to Handle Ford
Model A Time Payments

| both autOmotlVe and hnanclal circles
was the organization of Universal
Credit company for the purpose of fl
nancing exclusively the time sales of
Ford products thruout the country.
Ultimately service of similar nature
will be provided in all countries where
Ford products are sold.
Universal Credit company is spec
ialized financial institution created to
provide uniform and authorized time
payment plans at low cost on an in
stalment basis. The company in the
| first year of business just closed has
made sound and gratifying progress.
The reception accorded the authorized
Ford Finance plans by the public and
Ford dealers in the 81 large cities
where branch offices have been estab-
lished is indeed impressive.
Today UCC has purchased install
ment contracts in excess of $75,000,000
which establishes new record in in
stalment financing for an institution
which has only been in operation for
one year. 1t is anticipated that the
volume of business handled will eX-
! coed $25,000,000 monthly from now on,
! In the short space of a year, the UCC
organization has grown from an or
ganization of ten people to one en-
ploying almost a thousand.
Already there has come realiza-
ton that the Universal Credit COM
pany was created primarily for the
sound financing of the Ford dealer
and the purchaser, and not with the
primary object of profit. Its estab-
| lishment is thus squarely in conformi-
ty with the reiterated Ford policy OF
creating and developing every posi-
BILE economy from mine to consumer,
for the benefit of the public.
| The purpose is to reduce the cost of
credit, to the individual who buys on
time, commensurate with sound bust
ness policies. This reduction in the
cost of credit is made possible by the
many economies that arise from the
operation of an authorized plan, on
the basis of nationwide volume, and
dealing exclusively with the Ford
dealer organization. Simplicity of
forms, special bookkeeping and sta
tistical machinery and general uni
formity of procedure all under CEN
tralized control and management, are
constantly contributing to cut these
costs.
This cost of credit is just as vital
as the cost of any of the material
that goes into the building of the
automobile. 1t is in every sense a
commodity which becomes a part of
the completed article before it is
ultimately sold to the public.
Thus the Universal Credit COM
any's low finance charges are equi-
valent to a price reduction on the
Model A car and other Ford products.
Then there is that important mat
ter of good will. A buyer delights in
dealing with an organization that
gives him prompt, courteous service,
that deals fairly with him, that main
tains scrupulously the standard of its
product and that is constantly instill-
ing in that buyer sense of reliability
and confidence and appreciation of
the seller and his product.
UCC is serving a still greater pur-
pose in the economic and social phase
of our national life. In addition to
adding to the advancement of orga-
nized industry, UCC is at the same
time contributing substantially to the
happiness and contentment of society.
| By extending credit to every deserv-
ing person in the nation at the lowest
possible cost, UCC is helping to bring
greater health and happiness to a
large group of American people,
heads of families as well as their
children. In the process of transition
from the crowded city to the healthy
country district, UCC is aiding the
American family to establish itself
with economic advantages in more
desirable locations and is thus help
ing to raise the standard of Ameri-
can living conditions.
Thomas A. Edison, an outstanding
genius of our time has recently said
on the subject of instalment selling
What we call instalment buying is
one of the methods by which we are
preparing to take immediate advan-
tage of the opportunities for higher
standard of living thru machine pro-
duction. That is method of saving
in goods instead of saving in money.
In the old days a man spent most of
his life getting ready to die. He
saved against rainy day-against
old age. Now, altho it is a nice thing
to have a fund to fall back on, a
family thinks more of living than of
dying.
"People who work for wages sell
dom come into possession of consider
able funds. Unless they save, they
can hardly ever buy an article costing
over $50 or $500. Their incomes, how
ever, justify the possession of more
expensive articles that contribute to
their comfort or their enjoyment,
such as automobiles, monographs
radios and books, as well as many
household conveniences. There is no
reason why the manufacturers of
these articles should not aid in the
purchase by shifting the point of saw
ing from before purchasing until
after purchasing.
eff the cost of living goes down
and invention and engineering are
bound to drive it down-and wages
go higher-and they are bound to go
higher with more efficient production
then still more attention can be
paid to living rather than dying. This
whole instalment system which is
gradually developing along business
lines will be a necessary part of the
job of having consumption both in
crease and diversity in order to take
care of production.
"Saving by people of moderate
means, in order to provide funds for
| investment, is not so necessary as it