nearchoclatetown Posted December 29, 2002 Share Posted December 29, 2002 does anyone know when factories started offering new car leases? Link to comment Share on other sites More sharing options...
Guest Posted December 29, 2002 Share Posted December 29, 2002 Don't know about this side of the pond but in England in the '20's they started a system called "hire purchase" which became very popular. Link to comment Share on other sites More sharing options...
nearchoclatetown Posted December 29, 2002 Author Share Posted December 29, 2002 i have the original receipt for my parent's 42 chevy. it was written as a new car lease from GMAC. i just wondered how long before that they existed. like everything else i guess there really isn't anything new. after all chrysler still thinks they invented the minivan. Link to comment Share on other sites More sharing options...
Guest Posted December 29, 2002 Share Posted December 29, 2002 Just wondering. Could that possibly have been GMAC's method of financing a vehicle while still holding onto the ownership. Would have made for a much simpler reposession if it became necessary. That way the buyer would never have had any claim of ownership until full payment was made.Just a thought.hvs Link to comment Share on other sites More sharing options...
1937hd45 Posted December 29, 2002 Share Posted December 29, 2002 chocolatetown, What is the date on the reciept? Wonder if WWII had something to do with this plan? Link to comment Share on other sites More sharing options...
nearchoclatetown Posted December 30, 2002 Author Share Posted December 30, 2002 i had looked at the date before, but it never registered until right now. it was December 13, 1941. my dad could not remember in my lifetime what year the car was, 41 or 42. he thought it was 41, but by another post i was told it was 42. what is really interesting about the lease is there is no referance to interest. the purchase price was 1067.30. with the delivery payment of 323 the "deferred rental" was 744.30, divided by 18 payments of 41.35. did the General really sell cars interest free, or am i missing something? there's a seperate form stapled to it that gives the lessee the right to forfeit the contract in the event of being drafted. lessee gets all their money back except 3% per month. the original dealer was Kleinfelter's garage, which i think was in jonestown, pa. Link to comment Share on other sites More sharing options...
Steve Moskowitz Posted December 30, 2002 Share Posted December 30, 2002 Yes, the General did have leases in the beginning without interest! I seem to recall that GM did in fact come up with the lease concept and have read some history on it before. I have a "friend" at GMAC who is going to research this after the 1st and I will let you know what he comes up with...Happy New Year to everyone! Link to comment Share on other sites More sharing options...
nearchoclatetown Posted December 31, 2002 Author Share Posted December 31, 2002 thanks oldscarnut, i thought you might have some insight on this. Link to comment Share on other sites More sharing options...
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