tote a note

v. phr. to finance a loan; in automobile sales, used attributively to connote dealer-financed loans for used cars. Subjects: English, Automobiles & Transportation, Money & Finance

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Citations: 1986 John Reed Arkansas Democrat-Gazette (Little Rock) (July 20): A house note dealer is a car dealer who doesn’t go through a bank or credit bureau when he sells a car. Rather, he “totes the note” himself. 1988 Dallas Magazine (Texas) (Jan. 1) “Thrill of Victory” vol. 67, no. 1, p. 30: He did not really want to own a football team, although the prospect of owning the Dallas Cowboys, a team that commanded some of his loyalty but considerably less than his beloved Texas Aggies, was intriguing. He was content to stand back and let Henry S. Miller and W.O. Bankston, two of Dallas” heaviest financial hitters, tote the note. 1989 Raad Cawthon Atlanta Journal-Constitution (Georgia) (July 26) “Bypassed Since the ‘70s, Memphis Wants Franchise More Than Ever” p. E/01: Fred Smith, founder and chief executive officer of Memphis-based Federal Express, is the name that comes to everyone’s lips when asked what advantage the city has in the race for an NFL expansion team. “Fred has said, ‘I’ll tote the note,’” Cooley says. Frankly, I don’t think anyone in Jacksonville has that kind of whip-out.” 1992 Tom Baxter Atlanta Journal and Constitution (Georgia) (Aug. 23) “Candidates find South well worth fighting for”: He and the majority of those at the dinner share the point of view of Bobby Richardson and Al Rowe, salesmen at two of the “tote-a-note” lots selling automobiles on easy terms along Victory Drive in Columbus, Ga. 1995 Tami Cissna Tulsa World (Oklahoma) (Feb. 8) “Auto Repo Men Find Job Thrilling Despite Inherent Dangers” p. 6: Robinson and Hancock, who owns his own tow truck and is self-employed, accompany each other as much as possible for an extra measure of safety. Many of the cars they pick up are for “tote-a-note” lots where nonpayment risk is high. 2006 Andi Atwater Wichita Eagle (Kansas) (Aug. 19) “Car dealer remembered for honesty”: Shumaker said he and Mr. Souders sold their new-car dealerships in the mid-1980s and focused on their “very affordable” used-car lots. He said they were the first in Wichita—and possibly the state—to offer “tote-a-note” financing, but it worked. 2007 Harris Blackwood Gainesville Times (Georgia) (Aug. 19) “New tag law puts a dent in used car sales: ‘Tote a note’ lots suffer as Hispanic buyers balk”: Atlanta Highway is home to a number of what are often referred to as “tote a note” used car lots. These dealerships carry older and less expensive used vehicles and offer in-house financing.

Posted 20 Aug 07 | Permalink | Tell a Friend