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View Full Version : Studebaker - Universal C.I.T. connection?



53k
02-08-2015, 09:26 AM
When I bought my '61 Cruiser I opted for the dealer's financing which was with Universal C.I.T. It was an OK deal so I didn't think anything of it. Last year I found this desk top plaque/sign. It's made of cast aluminum, nine inches tall and 12 inches wide, stands upright. Made me wonder if Studebaker had a deal with Universal C.I.T. Anyone know more?

Gunslinger
02-08-2015, 09:47 AM
Maybe Studebaker had a deal with CIT for financing...for every customer a Studebaker dealer sent to them, they would get a kickback on the financing. When I was with a RV dealer many tears ago, we worked with a finance place literally across the street from us...when a customer financed a RV through them, we got a commission, kickback...whatever you want to call it. Sometimes the money we got from them was more than the profit on the RV itself.

Car dealers have been doing that forever it seems. I think it was simply a comfortable working relationship between businesses to help customers get financing and profit to both businesses.

jclary
02-08-2015, 09:58 AM
Considering the quality of that sign, my conclusion is that such things are not commissioned on a whim. The costs involving producing the mold for that casting would suggest serious financial interests on the part of all involved.

r1lark
02-08-2015, 01:01 PM
My Dad's/Uncle's/Grandfather's Studebaker dealership financed cars thru CIT in the early/mid '60s.

56H-Y6
02-09-2015, 07:45 AM
Their advertisements from the late 1930's into the 1940's note simply "C.I.T. Terms" in the text. Apparently the business relationship was longstanding by the 1960's. Seem to recall Ford also had this company as their consumer finance partner.

Commander Eddie
02-09-2015, 04:37 PM
I have a magazine advertisement for the 1939 Champion which states at the bottom "--easy C.I.T. terms." A 1936 Advertisement for the President also mentions C.I.T. financing at 6%. By 1947 this reference is gone from their ads.