V 21»— MANCHESTER HERALD. Saturday. Feb. 23, 1985 WEATHER MANCHESTER U.S./WORLD SPORTS Less wind tonight; Saturday sessions setj Subway vigilante Losing weekend BUSINESS I cloudy on Tuesday for spending review | starts media blitz for UConn, Whale I ... page 2 Adjustable-rate loans available for new cars ...page 3 I ...page 4 ... page 11 Adjustable-rate car loans first were introduced 75 percent of customers choose the adjustable option. , If you're buying a new car i jear,- you well niay No standard design now exists for this kind of loan. ing option — an about three years ag^ In October of 1984, the Ford *come across an unfamiliar Credit Co., the financial subsidiary of Ford MotorCo., But in general, most loans are structured so that rotes adjustable-rate car loan — permits you to are adjust^ either quarterly or twice a year. Most rates when you Your began a limited test at dealerships in Kentucky, gamble on the future trend bf inb Indiana and Texas. lenders seem to favor using six-month Treasury bills sign up for the loan. for the index on which to base changes in the interest AdjustableTate car loans still ai^ount for a tiny Money's “It’s a means of making our dealers more competitive with banks,” says a Ford spokeswoman. rate. percentage of total car Ipans, biit lenders the nation Worth But says a Chrysler Corp. spokesman: “We believe Generally, you can choose among several terms over are watching carefully to see how you, the 36 months, 48 months, and so on. The monthly consumer, respond to the offers. Your response is still Sylvia Porter there’s no need for that kind of financing. We are aware it exists, though, and obviously we’re looking at payment remains the same for the life of the loon- *•. mostly a matter of guessing on the part of the auto rates go up, the number of payments rises and vice companies and dealers, but the loans have become it.” iiaiuliPHtpr___ * MpralbMonday.Monday. Feb Feb. 25.1985 — Single copy: 250 available, particularly in the Sun Belt. There’s no At this time. Chrysler Financial Corp._, Chrysler versa. v u Corp.’s financial subsidiary, says it has no plans to Many more variations will emerge as more dmks doubt that the trend is spreading across the country, and savings and loans add adjustables ta taeir from California to New York. In essence, adjustable-rate car loans are similar to offer adjustable-rate loans. adjustable-rate mortgages. When you take one out, The incentive (gamble) for consumers inherent in portfolios. Meanwhile, if you plan to explore this kind Is this a development in response to your demand as of financing, be sure you understand how the loM is a consumer? Or is it an effort to create that demand you are guessing what your costs will total at the adjustable-rate auto loans lies in lower initial interest maturity date of your loan. rates. structur^. Find out what can happen if rates Shoot through the offering? This, too, is as yet unclear, but up. Is there a ceiling per adjustment? On the rate for < there are signs that upscale consumers are eager to The stakes for lenders are enormous. Auto loans “We’ re able to offer an initial rate that is better than Lebanon asks the life of the loan? Have you researched the indM the try the gamble.^ account for more, than 36 percent of all consumer the market rate,” says Tom Brozlnski, vice president installment loans. of consumer lending at First Financial Savings & lender uses? Is it extremely volatile? Relatively And that, oE course, is the basic appeal. For if stable? What? interest rates decline in coming months and years, No one even suggests these loans will replace the Loan Association in Stevens Point, Wis. “In our familiar fixed-rate loans that remain hvallable market (central and northwestern Wisconsin), we These are new and risky loans for consumers! Ask you’ll come out ahead; if interest rates rise, you will the same questions you would for an adjustable-rate pay more in the long run. You even may wind up everywhere. This is the testing period. If the tests offer a rate of 12 percent on new adjustable auto loans. U.N. meeting indicate a deep-down demand, the tests will be Other lenders are averaging 13.5 percent on fixed-rate mortgage. You need all the details you can get. Then paying more than if you had stayed with a fixed-rate and only then make up your mind. _ , loan. expanded. Not even the preliminary results are solid. loans.” The result, Brozinski says, is that 70 percent to Airways over Israel Business By David Zenlan near the western Bekaa Valley United Press International frontlines and the coastal Tyre In Brief going private region where a local government BEIRUT, Lebanon — Prime leader called for “help to end the NEW YORK (UPI) — With the British pound at Minister Rashid Karami called Israeli blockade.” Wilder-Manley office grows record lows against the dollar, British Airways — today for a special meeting of the Tyre's governor, Ghassan Hai­ Wilder-Manley Associates Inc. of Boston has Europe’s largest international airline — is priming its U.N. Security Council to discuss dar, said, “Food supplies are added Tjiomas V. Wilder as assistant manager of engines for the longest flight in its 60-year histbry. Israeli attacks and sieges of running short and living conditions its new Connecticut The carrier’s flight path — to private ownership villages in southern Lebanon, are brooming desparate,” in a office. Vice P re ^ valued at more than $1.5 billion — will take place state-owned Beirut radio said. statement carried by Beirut radio. dent James ^ “sometime this spring.” the company said. BA The broadcast said Karami “We call on the international McCormick has officials declined comment on whether they expect ordered Lebanon’s envoy at the community to help help end this announced. the sale, part of Prime Minister Margaret Thatcher’s United Nations to request the Israeli siege.” Wilder, a recent “privatization” plans for British industry, to be as meeting as a result of “an At the headquarters of the U.N. graduate of Nor­ successful as that of British Telecom. escalation of Israeli oppressive peacekeeping forces in Naqoura, a theastern Univer­ British Telecom, thought to be the largest initial measures in southern Lebanon and spokesman said he was not aware sity, is responsible offering ever, went to underwriters at $6 an American the continued siege of several of any siege and violence in the for the overall man­ Depository Receipt (each ADR equals 10 shares). villages.” Tyre area. agement of Wild^r- U.S. investors got 18 million ADR’s. On opening day of The move coincided with more A suspected Israeli collaborator M a n ley ’s re ta il trading on the NYSE last December the issue was so reports of violence in Israeli- was found shot and killed in the properties in Con­ in demand it was offered at $9, closed at 11 and is now occupied southern Lebanon, in­ village of Najjariyeh in the Zah- necticut, which in­ over 13. , cluding guerrilla raids against rani district, bringing to six the clude the Broad British Airway’s offering comes at a time when air Israeli troops, units of the Israeli- number of people “executed” by Street Parkade travel is at its peak, and analysts forecast a bright backed militia, the South Lebanon Lebanese guerrillas in two days. shopping center in outlook for the industry. Army, and the “execution” of a Scores have been killed since the Manchester. BA recently reported record six-month profits of sixth "collaborator” in two days. start of Israel’s military withdra­ Other retail prop-' more than $200 million. In West Beirut, street fighting wal last week. erties handled by “The company’s improving profits and its air route between rival Moslem militias Israeli troops continued their the firm include the structure combined with the value of the dollar should forced the closure of two of the six policy of retaliation Sunday by Charter Oak Mall in be very favorable for BA,” Tom Canning, airline roads linking the Christian and raiding Shiite Moslem villages in East Hartford and industry analyst for Standard & Poor’s Corp., said. UPI photo Moslem halves of the city, Beirut southern Lebanon and guerrillas killed five more suspected Israeli the New Milford Thomas Wilder But the success in its public sale, depends>“a lot on radio and police reports said. Plaza in New Mil­ the price of the stock^t the time of its offering,” Dance of the dragon At least one militiaman was collaborators. ford. Wilder-Manley is negotiating on other retail Canning said. killed in fighting that engulfed Official Beirut radio said one and residential properties in the state, the firm John D.A. Meredith, General Manager the During the ceremony, the dragon, a symbolic protector, parts of the city’s Shiite Moslem man was killed and his brother was Members of the Academy of Chinese Martial Arts under wounded when Israeli troops Sun­ said in a news release. Americas for British ■ Airways, agreed that the is offered food and money. The Chinese community ‘ southern suburbs and areas close strength of the dollar “has proven to be a major factor papjermache dragons perform a Chinese New Year’s to Uie Green Line, which divides day opened fire "indiscrimi­ in our start. With improvements in the American eelSbration in the streets’bf Boston’s Chinatown Sunday. celebrates the Year of the Ox, 4683.