Die Voorkoms Van Verbruikerskrediet in Suid-Afrika 1965–1987 Met Spesiale Verwysing NA Meubels En Motors

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Abstract

The Hire Purchase Act of 1942 brought durable consumer credit within the reach of many consumers. The subsequent decline in the importance of durable consumer credit until the early seventies can be ascribed, firstly, to the relative decline in the importance of Whites as buyers of cars; secondly to the growing importance of company car ownership; thirdly, to the continuous erotion of the purchasing power of incomes by rising taxes and a high secular inflation rate; forthly, by the aging of the passenger car fleet, i.e. the fact that the number of used cars do not qualify for hire purchase finance because of their age; and lastly, that the non-White population is still not a significant factor as far as the purchasing of durables are concerned. The use of consumer credit as an instrument to regulate consumer spending would seem to be less warranted, regard being had to its adverse effects on the utilisation of capacity, i.e. the inflationary effects as far as unit costs are concerned.