Learn stock trading – The 10% down was felt to be justified because the "new increment" had been knocked off.

If a new car is purchased and driven around for a day or two it is no longer new; and even though in that time the owner may have added seat covers, a radio and premium tires, let us say, the car is used and cannot bring the full new car price. The "new increment" has been knocked off. In used cars or trailers there is no new increment which disappears as soon as delivery has been made, no new increment which has to be taken care of by a large down payment. The 10% down, five year used mobile home plan was put into effect, but the more liberal terms had to be compensated for by an increase in rate. The rate established was 8%, and to find the real rate it is necessary to double this rate. It is 16% or a little less.

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