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HomeMy WebLinkAboutZurich Citizens News, 1971-10-07, Page 21PAGE 22 ZURICH CITIZENS NEWS Guidelines for buying new car During the past two years many potential car -buyers have resisted the purchase of new cars in view of Canada's economic slowdown. This year, with prospects looking up, people are viewing the possibilities of a new car with more optimism. Canadian automobile manufacturers have predicted a substantial rise in the sale of new cars in 1971. Whether this prediction is verified or not, the fact is there is more money available this year for new cars. According to the Canadian Consumer Credit Factbook published by the Federated Council of Sales Finance Comp-, anies and the Canadian Consum- er Loan Association, affluence affects expenditures on transp- ortation more markedly than any other spending category. The booklet points out that in 1964 (most recent figures avail- able) lower income families ($2, 500. or less) spent 4.5 per cent of their annual income on transportation. Those in the $7, 000. to $10, 000. bracket spent 14 per cent. There are many reasons why people purchase new cars. It may be to replace the existing car --or to augment the family fleet due to a move to suburbia. Or it could be that the car will be the first one owned --the sign of a promotion, a new job, or a new baby. Whatever the reason, a new car is a sign that it's getting ahead of time. Here are two questions to ask yourself when considering the purchase of a new car: 1. How are your job prospects? 2. Does your present car re- quire major repairs? If job prospects are rosy, you don't risk losing the income needed to meet payments. The problem of whether to repair the old or buy the new can be reduced to a calculation. If your present car needs major surgery, you need to satisfy yourself that the repair work will keep it rolling long enough to make the repairs worthwhile. Should you decide to sell the car after the repairs are made, you want to be sure your invest- ment in the repairs will be rec- overable. Market research shows that a person feels he needs a new car as soon as he feels he can pay for one. And let's face it, few of us have accumulated the capital to pay cash. If you pay cash, it would mean cashing in assets (stocks and bonds for instance) which if kept could bring in more than you are paying for the credit. While you cannot predict the market you can assess it with an eye to its growth potential. If you stand to gain more through your investments than it would cost for the crddit, then it might be wise to keep the investments and use credit for the car. Even if you could pay cash, here are some other reasons why you may want to use your credit: You may be needing some of your cash for upcoming exp- enses --a new roof, dental bills, college fees, etc. There is danger of putting all your eggs in one basket. Once your cash is put into the car there may be none left for emergencies. Some people find it difficult Join the switch to FO LUE See these big values in reconditioned tractors nd implements at EXETER FORD Equipment Sales Ltd. Tractors Equipment':, (at the rear of Larry Snider Motors) EXETER 235-2200 TRACTORS Ford County Super 6 (954) $ 6,800 Ford 5000 Diesel 3,595 Ford 5000 8 -speed Diesel 3,395 Massey Ferguson 35 Diesel (like new) 1,795 IHC 504 Diesel with hydraulic bucket loader 3,450 IHC 400 Diesel with power steering 1,450 Case 310 Tractor (Gas) with Hydraulic Bucket Loader 1395 Case 430 Diesel 2,495 Minney Moe Model Z 250 EQUIPMENT Ford 101 semi -mount 4 -bottom plow 650 MF 82 Mounted plow 4 x 14" 650 Ford 8' Angle Blade 260 Ford 907 Flail Mower 550 695 Ford 120 Bushel Spreader Henderson Loader Case Combine M -F Baler No. 3 WIC 4 x 14" mounted plow 150 750 695 675 to save. Purchasing a car with credit offers the discipline of a constant payment plan. It has been shown that having funds in a bank account is a spur to further savings. The growth of savings is the reward of doing without. Therefore if a person chooses to leave his money in savings and buy on credit, savings will not be af- fected and the purchaser will be inclined to continue to save more. Against these reasons for us- ing credit is the fact that it will cost you less if you pay cash. The decision therefore comes from balancing the cost of the credit against these other reasons. The Canadian Consumer Credit Factbook shows that in 1968, of the 497, 341 credit contracts involving consumer goods, 340, 654 were for new or used car purchases. Dairy Maids sample food (by Ruby Beierling) Meeting two and three of Zurich VI 4-H girls met at the home of Mrs. Schwartzen- truber on September 22 and 29 respectively. Two girls were absent for meeting II, but one leader and 17 girls were present for meeting III. Elizabeth Deichert opened the meetings with the 4- H Pledge and the secretary read the minutes of the previous meetings. We decided to de- sign our own covers for record books. We discussed nutritious values of yogurt and skim milk powder and how to store it. Mrs. Schwartzentruber made potato chip dip. She also gave us corn chowder. Our home assignment was to obtain prices of skim and skim milk powder in different cont- ainers and bring to meeting III, We were also to check and list types of yogurt available in our community. Our third meeting was cot- tage cheese and how it can be stored properly. Our leaders made a delicious potato salad, using onions and peppers. For our home assignment, we are to make custard and file the recipe in our recipe file. 0 Eligible purchasers include individuals (adult or minor), estates of deceased persons, trusts established for or on be- half of one or more individuals, religious institutions, charitable organizations and other non- profit making associations. Purchasers must be bona fide Canadian residents. Independent Shipper to United Co-operative of Ontario Livestock Dept Toronto Ship Your Livestock with Roy Scotc'hmer Monday Is Shipping Day From Varna Stockyard CALL BAYFIELD 365.2636 I13y 7:30 a.m, Monday For Prompt Sorvico No Charges on Pick-up iallumersommmancimmosimumion In other words, approximately 80 per cent of the reported credit contracts involved the purchase of cars. The Factbook points out that sales finance companies origin- ated more than 50 years ago as a response to the specific de - THURSDAY OCTOBER 7, 1971 mand created by the need of a family to finance the purchase of an automobile. In recent years, it states, sales finance companies have financed approximately one- quarter of all new passenger vehicles sold in Canada. MINOR HOCKEY REGISTRATION Thursday, Oct. 7 at 7 P.M. ZURICH ARENA ALL BOYS INTERESTED IN PLAYING MINOR HOCKEY AT ZURICH MUST REGISTER AT THIS TIME HONEY OCTOBER it IS LAST DAY FOR BULK HONEY (Buckwheat and Clover) BRING YOUR OWN CONTAINERS We will continue to have Honey in our own containers after that date! FERC S N APIARIES ZURICH TIC Respecting, Assessment Appeals Municipality of the TOWNSHIP OF HAY The assessment roll may be inspected during business hours, at the municipal offices located at Zurich, Ontario. Any complaint with respect to an assessment in the assesssment roll may be brought to the As- sessment Review Court pursuant to section 52 of The Assessment Act, R.S.O. 1970, c.32 as amended by section 10 if The Assessment Amendment Act, 1971. Notice of Complaint must be made in writing either by letter or on forms available at the Munici- pal Offices. For purposes of identification, please include your name and postal address, and the reason (s) for complaint. If possible, note also the assessment roll number, the street address, concession and lot numbers, and the municipality in which the property under complaint is situated. Any Notice of Complaint shall be mailed by or- dinary mail to the Regional Registrar named below, and, in addition, by registered mail to any person whose assessment is complained of, not later than the 31st day of October, 1971. MR. ROY FITZGERALD, Regional Registrar, 410 Third St., London 35, Ontario. WAYNE HORNER, Clerk, Municipality of Hay.