In an effort to boost flagging car sales, Ford announced today its new “Ford Advantage Plan,” which will cover payments for up to a year on any new Ford, Lincoln, or Mercury vehicle in the event of job loss.
The program, which begins immediately and runs until June 1, will offer 12 months of payments of up to $700 per month at no cost to the consumer.
There’s plenty of fine print, but basically you must have been employed for at least 90 consecutive days, working 30-hours or more a week before becoming involuntarily unemployed, similar to the Hyundai Assurance program launched previously.
“Consumers remain anxious about the economy and their own outlook for the future,” said Ken Czubay, vice president of Sales and Marketing.
“We at Ford want to do our part to rebuild faith in the marketplace by offering payment protection on every new Ford, Lincoln or Mercury vehicle for up to a year if our customers lose their jobs.”
Ford also boasted that its Fusion model has a higher residual value than the Toyota Camry after three years of ownership, and the highest fuel economy of an American mid-sized sedan.
The 2009 Ford F-150 also retained the highest percentage of its original price among 2009 full-size light duty pickups at the end of a conventional three-year lease.
The auto company is currently offering zero percent financing through Ford Motor Credit on select vehicles and plans to work with local dealers nationwide to introduce a local charity support program.