Buy Here Pay Here Owensboro Ky
On the flip side, if there's negative equity in your trade-in, and you can't pay it off right then and there, you may need to wait before trading it in. Not all lenders will allow you to roll the negative equity into the new loan. Even if they do, expect to be paying more. Rolling negative equity into a new loan increases your new loan balance, which leaves you paying more each month and in interest charges over time.
buy here pay here owensboro ky
The annual percentage rate (APR) is the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on the interest rate, any points, and mortgage insurance for FHA loans. It does not take into account the processing fee or any other loan-specific finance charges you may be required to pay. Rates are estimated by state and actual rates may vary.
Depending upon your credit profile, interest-only loans are available and provide for the payment of interest only for a set period of time, and payments of principal and interest thereafter for the remainder of the loan term. While making interest-only payments, principal is not reduced. At the end of this period, your monthly payment will increase.
The annual percentage rate (APR) is the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on the interest rate and any points. It does not take into account the processing fee or any other loan-specific finance charges you may be required to pay. Rates are estimated by state and actual rates may vary.
The controversy is as to the validity of an alleged contract between a manufacturer of radio tubes and a distributor thereof in definitely assigned territory, and as to the respective rights and obligations of the parties to the contract, if valid. The plaintiff below was Bohannan, Inc., the distributor, and the suit was against the Ken-Rad Corporation, the manufacturer, for compensation in procuring certain dealer contracts in the assigned territory, and upon contracts concluded by the manufacturer itself, in breach of the distributor's monopoly. Judgment below was for Bohannan, and Ken-Rad appeals on the ground of error in the denial of its motion for directed verdict and requested instructions on the question of damages.
On May 4, 1931, Ken-Rad sent Bohannan a one-year distributor's franchise in duplicate, both copies of which the latter signed and returned. In June of that year, Ken-Rad's representative delivered to Bohannan a second one-year franchise, differing in some respects from the first, which was also signed, and then delivered *252 to the representative. On the ground that Ken-Rad never executed the first franchise or returned an executed copy thereof to Bohannan, and on the ground that there is no evidence that the second franchise was ever delivered to its home office, or to any officer having authority to execute the agreement, Ken-Rad contends that there is no writing binding the parties as to the matters in controversy. It is clear, however, that both litigants operated under the terms of the franchise, that Ken-Rad's representatives understood that it controlled relations with Bohannan, and that the Ken-Rad letter of October 23, 1931, canceling the contract, was "within the understanding of the contract with us," and so recognized the existence of the written agreement. We consider the issues here to be governed, therefore, by the written instrument executed in June, 1931, if otherwise it is valid and enforceable.
The instrument recites a purpose to define the relations of the manufacturer and distributor in the marketing of Ken-Rad radio tubes, to describe definite territory within which the distributor is to sell, and to provide terms that shall enter into all sales by the manufacturer to the distributor; the manufacturer, however, reserving the right to change the territory upon notice. The manufacturer agrees to sell, and the distributor agrees to buy, at list prices, to be established from time to time by the manufacturer, less a discount of 50-10-10 per cent., with the right reserved to the manufacturer to change the discounts when competitive market conditions warrant. In the event of reduction in prices, the manufacturer agrees to protect the distributor to the extent of tubes on hand or in transit, and for this purpose the distributor agrees to furnish a complete monthly inventory, and is likewise authorized to protect its dealers on price reductions. There follows a recital of the manufacturer's merchandising plan, with which we shall deal separately. Additional provisions reserve the right to the manufacturer to allot tubes to its distributors proportionately, and specify that acknowledged orders are not to constitute contracts to sell until apparatus or tubes are appropriated thereto. The distributor agrees to sell no tubes outside of his territory, and the manufacturer to refer to the distributor all inquiries and orders originating therein. The distributor is obligated to maintain a stock sufficient to promptly supply his territory, and to report his sales monthly on forms to be furnished by the manufacturer. The distributor is also required to maintain an adequate testing department for servicing tubes. The agreement may be canceled at any time by either party upon 30 days' notice; the cancellation to terminate as of its effective date all orders not shipped, and to impose no liability on either party with respect thereto.
Paragraph 7 of the agreement details the manufacturer's merchandising plan, and recites that in order to assist the distributor the manufacturer has acquired from the Acremeter Company an exclusive right to distribute its tube-testing device, and copyrighted sales promotion plan; that the manufacturer, in co-operation with the distributor, contemplates placing acremeters and merchandising plan with desirable dealers on a basis that would require each dealer to agree to purchase $5,000 worth of tubes from the distributor at the rate of not less than $300 during each 90-day period, in consideration of which, upon the dealer's taking and paying for the required amount of tubes, the acremeter and plan would become his property. The dealer is to make a deposit of $200 with the manufacturer to guarantee the purchase agreement; the deposit to be refunded upon performance, and, in order to assure proper performance and operation of the plan, the distributor agrees to establish and maintain a tube department, with a competent manager and assistants, to install the acremeters and to thoroughly instruct the dealers in their use. Then follows this language: "As compensation therefor, the manufacturer will pay the distributor a commission of $25.00 on each acremeter so placed in his territory. And inasmuch as the return of said $200.00 deposit, and the passing of title to said instrument to the dealer is predicated upon the latter purchasing a total of $5000.00 worth of tubes, the distributor agrees to furnish the manufacturer on forms supplied for the purpose * * * an accurate record of the dealer's purchases on such tubes during the previous month."
Operating under the contract, Bohannan proceeded to stock Ken-Rad radio tubes and to solicit dealer contracts. Upon orders being sent to the manufacturer, the distributor was billed at factory list price, less discount of 50, 10, and 10 per cent. The distributor in turn billed the dealers at list price, less 40 and 10 per cent. The difference between the factory discount to the distributor and the distributor's discount *253 to the dealer was 25 per cent. of list price. While the distributor contract was in force, Bohannan secured seven dealers in his territory, each of whom signed a contract with the manufacturer, on forms provided by it, for the purchase of $5,000 worth of tubes, and for the installation of acremeters; the seven contracts being approved and accepted by the manufacturer. During this period the manufacturer concluded two additional dealer contracts in the distributor's territory with the Rudolph Wurlitzer Company; one for the latter's store at Columbus, Ohio, and the other for its store at Springfield, Ohio, Wurlitzer agreeing to purchase for each store $5,000 worth of tubes, and accepting for each an acremeter. The contracts with the Wurlitzer Company were in all respects identical with the dealer contracts procured by the distributor, except as to discount rates, which were higher. The distributor from time to time furnished tubes to its seven dealers, but no tubes were supplied by it on the Wurlitzer contracts. Bohannan claimed to be entitled to commission on the Wurlitzer agreements, and while the manufacturer conceded that some commission should be paid, it insisted in view of the greater discounts that it was to be at the rate of 5 per cent. on tubes sold, instead of 25 per cent. on total commitment. It must be noted here that the dealer contracts (including Wurlitzer) covered a period of years beyond the termination of the distributor's one-year franchise. On October 23, 1931, the manufacturer canceled the Bohannan contract as of November 22, 1931. 041b061a72