Ford Promise allows customers to return vehicle in case of job loss
Nervous about buying a new car due to the COVID-19 pandemic and unstable economy plaguing us right now?
What's more, eligible buyers will be covered up to $15,000 (around P35,000) of their remaining balance.
“We feel like right now, the economy is at the stage of recovery where people want things to be back to normal, they want to buy, but they’re still a little nervous about what the future holds,” said Mark LaNeve, vice president, US marketing, sales and service.
“We want them to know we understand that, and we’re here to support them in their buying decisions.”
The Ford Promise program is open to Ford owners who involuntary lose their jobs within a year of returning the vehicle.
The promo, which runs through until September 30, is open to all eligible customers who buy or purchase a vehicle using Ford Credit financing.
“Ford Credit has a long history of helping customers affected by all types of economic setbacks,” says Marion Harris, CEO, Ford Motor Credit Company.
“Now, we want to make sure that everyone who is considering purchasing or leasing a vehicle knows that this assistance is available.”
Ford Credit will use the National Automobile Dealers Association (NADA)'s average trade-in value to decrease the customer's outstanding balance, waiving up to an additional $15,000 (around P35,000). The rest will be shouldered by the customer.
The account is reported closed and paid, once all late or deferred payments have been paid.
Here are a few more details you should know:
- Ford Promise covers 2019, 2020 and 2021 purchased or leased new, used and certified pre-owned vehicles financed through Ford Credit.
- Vehicles must be for personal use only; commercial use contracts are ineligible.
- The complimentary protection begins 30 days after vehicle purchase or lease.
According to Matt VanDyke, director, US Marketing, the ad campaign was launched two days ago, and focuses on supporting consumers who look ahead.
“Customers are realizing it might take a while for things to completely feel normal again, if in fact, they ever do.”
Cox Automotive released a study indicating that at least 32 percent of potential customers are stopping themselves from buying vehicles due to market uncertainty and unemployment fears.
“They need our support now more than ever,” VanDyke said.
“And it’s here, in an offer that applies to both new and used vehicles leased through Ford Credit. It just shows there’s no better place to shop than at a Ford dealer.”
Currently, the offer Ford Promise is available only in the US. We hope Ford can also offer this in the Philippines, since we're also affected by the pandemic and hounded with all these uncertainties. It's only fair, right?
Photos from Ford Motors