Word: nadas
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Dates: during 1950-1959
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Another sharp word of caution to dealers came from their own National Automobile Dealers Association. ''To sign a contract which results in a buyer owing more than his car is worth-at any time during the terms of the contract-is business suicide," said NADA's newsletter to members. "The minute a customer finds that his car is bringing less on the open market than his outstanding balance, the stage is set for another repossession.'' Moreover, said NADA, terms of three years or five years keep customers out of the market too long...
...Back of NADA's straight talk is its concern that the Government might restore wartime Regulation W, which set auto sale terms at one-third down and no more than 18 months to pay. Though no such regulation is in prospect now, the Federal Reserve Board last week summoned to Washington representatives of G.M.A.C., C.I.T. Financial Corp., and other auto-finance companies to find out how auto credit can be tightened...
...fearing to be murdered by one of the king's henchmen, Slade has small thanks for his services to democracy. "Nada, Senor," says a philosophical waiter. "There is no importance." The waiter sums up the book well enough; even when turned upside down, given a dash of Psychopathia Sexualis and a medium-sad ending, these refugees from Graustark are still from Graustark...