New vehicle buyers can have the first payment delayed for 90 days.
As Coronavirus fears grip the U.S. and the entire world, we’re starting to see automakers offering a measure of assistance for current customers and potential buyers. Ford Motor Company is the latest to chime in with a plan of sorts. Ford Credit is the company’s lending division, and it’s offering options both for current and prospective Ford vehicle owners.
The first is the potential for some measure of payment relief to those who have loans through Ford Credit. The exact nature of the relief isn’t specified, but in a press release on the subject, Ford Credit says it encourages people to contact the company to discuss “potential delay of payments” for relief. Motor1.com has contacted Ford for additional information on this, particularly regarding criteria that Ford Credit customers must meet, duration of the delays, and the status of interest during delays.
To entice people into a new Ford purchase, Ford Credit’s assistance is clearer. The company offers a program that will delay the first payment for 90 days to folks who decide to buy a new Ford vehicle.
“Ford is committed to lending a hand to the people who rely on us,” said Mark LaNeve, Ford vice president for U.S. marketing, sales, and service. “The peace of mind of our Ford and Lincoln customers is our top priority as we work through the developments of this outbreak.”
Ford has also directed its Ford Motor Company Fund to send $500,000 to nonprofit groups in southeast Michigan that help food delivery to children and senior citizens. In addition, the company has pulled all its national advertising and is replacing it with a new awareness campaign for the virus and Ford’s programs.
Current Ford Credit customers with questions can contact a special hotline at 800-723-4016, or access their account through fordcreditsupport.com. We will update this article with new information as it becomes available.
COMMITTED TO LENDING A HAND, FORD OFFERS ASSISTANCE TO CUSTOMERS, COMMUNITY DURING COVID-19 OUTBREAK
- Ford focusing on health, peace of mind of customers during developing outbreak of new coronavirus, or COVID-19
- Ford Credit is encouraging customers in the U.S. impacted by COVID-19 to contact the company to discuss potential delay of payments to provide relief. Additionally, Ford Credit is offering a program giving customers who buy new vehicles the option to delay their first payment for 90 days.
- The Ford Motor Company Fund, Ford’s philanthropic arm, is immediately directing more than $500,000 to nonprofit groups in southeast Michigan and will support delivery of food to senior citizens and to thousands of children who do not have access to school meals
- Ford Credit is launching an ad campaign starting today to raise awareness of its assistance programs.
DEARBORN, Mich., March 16, 2020 – Building on years of helping communities during times of need, Ford is working to help customers affected by the developing coronavirus outbreak.
“Ford is committed to lending a hand to the people who rely on us,” said Mark LaNeve, vice president, U.S. marketing, sales and service. “The peace of mind of our Ford and Lincoln customers is our top priority as we work through the developments of this outbreak.”
Ford Credit has long helped customers impacted by local and federal disasters. Now, existing Ford Credit customers in the U.S. affected by COVID-19 who purchased or are leasing vehicles are encouraged to contact Ford Credit to discuss options if they are having payment difficulty. For example, they may be able to change a payment due date or delay a payment.
Customers are encouraged to access their Account Manager profile either online at accountmanager.ford.com or through the FordPass app; visit http://www.fordcreditsupport.com/ or call a special hotline – 1-800-723-4016 – to discuss options.
In addition, Ford Credit is offering a program giving customers who buy new vehicles the option to delay their first payment for 90 days.
Ford Credit will launch an ad campaign beginning today to raise awareness of the new program.
“We want to make sure that anyone who needs assistance knows it’s available,” said Marion Harris, chief executive officer, Ford Motor Credit Company.
In addition, the Ford Motor Company Fund, Ford’s philanthropic arm, is providing assistance to nonprofit organizations meeting critical community needs.
As an initial step, Ford Fund is directing more than $500,000 to help nonprofit groups in southeast Michigan and will support delivery of food to senior citizens and to thousands of children who do not have access to school meals while schools are not in session.
The two Ford Resource and Engagement Centers in Detroit are serving as drive-up food pantry distribution centers. Ford Fund also is supporting Detroit-area nonprofits that provide shelter to families and other at-risk people. In addition, Ford Fund is exploring how employee volunteers can assist nonprofits that are short-staffed.
In other parts of the U.S., Ford Fund is redirecting funds to support food programs for children no longer in school. It also is launching an emergency aid program with the UNCF (United Negro College Fund) to help students with financial difficulties at historically black colleges and universities get home following the sudden closure of some of these institutions.
“We are immediately targeting resources to ensure that the most vulnerable people are being cared for during this unprecedented situation,” said Mary Culler, president, Ford Motor Company Fund. “We appreciate all that our nonprofit partners are doing and will continue to work with them to address critical needs in our communities as the situation evolves.”