Ford Offers Payment Holiday up to 6 Mos During Covid-19 Lockdown
Carmakers continue to innovate their business models in the face of the ongoing Covid-19 crisis. This time, it’s Ford who’s giving its buyers some peace of mind, by combining vehicle purchase and financing to provide customers a respite from monthly payments up to six months.
For April and May, Ford launched the ‘Peace of Mind’ program designed to help offset some of the financial difficulties brought about by the coronavirus outbreak on new customers through the balance of the year.
The program is currently available to Ford’s customers in North America and Europe.
With the program, Ford provides buyers with some financial assistance regarding payments in the form of cashback paid when the vehicle is collected to help cover the first three average monthly payments. Alternatively, buyers can also opt for a vehicle discount of the same value.
In addition, Ford’s wholly-owned finance company, Ford Credit, will delay the first three months of payment to the fourth month. This deferment applies to both car personal contract purchases (PCP) on Ford Options and Ford Acquire van hire purchase.
With zero percent interest on most Ford cars and all commercial vehicles, the Peace of Mind program delivers a combined six months of financial relief across the Ford range.
Despite closing vehicle showrooms in compliance with national guidelines, Ford continues to operate online and provide remote sales services to its customers.
Ford also arranges vehicle delivery for those in urgent need of a Ford vehicle, such as (medical frontliners and companies involved in combating the emergency.
In the US, the Ford Motor Company Fund, Ford’s philanthropic sector, is providing assistance to nonprofit organizations working to meet critical community needs. As an initial step, Ford Fund is giving out more than USD 500,000 (PHP 25.75 million) in aiding nonprofit organizations in southeast Michigan and will support delivery of food to senior citizens and to thousands of children who do not have access to meals while schools are not in session.
On the local front, Ford PH, in partnership with Lifeline 16-911, the largest private ambulance and pre-hospital provider in Metro Manila, is providing transport services workers via an on-loan Ford Transit to healthcare and medical frontliners belonging to LIFEPODS, Lifeline’s various points of dispatch.