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Ford Offers Payment Relief For New Car Buyers

“Built to Lend a Hand” program provides new car buyers peace of mind for those suffering financial issues thanks to fallout from corona virus.
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Kudos to Ford! It’s been a tough couple of weeks financially, including for the Ford Motor Company which shut down its assembly plants due to spread of the COVID-19 virus. As such, many of its employees are likely financially suffering. So are millions of others who are facing (temporary) financial hardship. So it was a nice bit of information that slid into my email inbox from Ford announcing a program to offer a helping hand to those in financial need right now.

Whether you own or just purchased a Ford F-150 or a Ford Mustang (or any other Ford or Lincoln vehicle), you may be eligible for this program.

Ford Motor Company is offering eligible new car buyers up to six months of payment relief under a new “Built to Lend a Hand” program developed with its dealers.

This week, Ford met with dealers throughout the country, asking what they and their customers need most. The answer was clear – payment support for existing and new customers affected by coronavirus, plus tools to help serve their customers remotely.

Under the new program, Ford is offering up to six months of payment relief for eligible new car customers who finance through Ford Credit. Ford will pay for three months and customers can defer for up to three months for a total of up to six months. The program is for those purchasing new 2019 and 2020 model year vehicles, excluding 2020 F-Series Super Duty.

“Our dealers are incredibly connected to their communities,” said Kumar Galhotra, president, North America. “They’re willing to lend a hand by doing whatever it takes to help our customers in this time of need.”
Just over three-quarters of Ford dealers will work with customers on remote vehicle delivery for sales or service. Convenient service scheduling and one-touch access to Roadside Assistance is available via the FordPass app.

The company also is providing dealers additional rewards for helping better support customers during the coronavirus outbreak – including offering payments to dealers who deliver customers’ vehicles – instead of asking them to come to dealerships – in March and April.

Customers can visit Ford.com to be directed to individual dealer websites to learn about local dealer support plans.
In addition, Ford also has developed new disinfection procedure guidelines for dealers using products approved by the Centers for Disease Control and Prevention for cleaning both their new and loaner vehicles.

“We’re a family business with a 100-plus year legacy of steering through crises all over the world,” said Mark LaNeve, vice president, U.S. marketing, sales and service. “We’ve faced down many kinds of disasters, and we’ll face down this one just the same – taking care of our customers along the way.”

Ford’s Built to Lend a Hand initiative comes on the heels of a well-received Ford Credit program announced Monday, which allows existing U.S. customers affected by coronavirus to call Ford Credit and discuss options if they are having payment difficulty.

The website for the Ford Credit program is http://www.fordcreditsupport.com/ or customers can call a special hotline at 1-800-723-4016.

Great job by Ford to step up and make this program happen. Many are suffering now, not just Ford employees, but loyal Ford customers too. So despite the financial struggles Ford itself is going through, they created this program.

We all need some good news like this.

Follow my coverage of the Ford F-150 frozen door lock issue here and also, read about my thoughts on whether lower fuel prices will affect sales of the F-150 V8. Additionally, bang it here for all Ford F-150 related news.

Jimmy Dinsmore has been an automotive journalist for more than a decade and been a writer since high school. His Driver’s Side column features new car reviews and runs in several newspapers throughout the country. In addition to being a nationally syndicated automotive columnist, Jimmy is also author of the book “Mustang by Design” and “Ford Trucks: A Unique Look at the Technical History of America’s Most Popular Truck”. Follow Jimmy on Facebook, and Twitter.


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Comments

Ford is trying to keep selling vehicles while the economy is in a free for all straight to hell. I’m toying with the idea of trading in my 19 platinum for a for a 20 xl single cab. This would lower my monthly payment and no payments for a few months. I can afford to make my payments but with the uncertainty, this is an option.
Check Ford's interest rate before you take up the offer. If the interest rate is high, it's not worth it.
Ford's interest rates are not high for people that don’t overspend, miss payments, etc that have good credit... 0% here.
Kudos to Ford but more could be done. Myself and many more like me have purchased a new Ford in the last 2-3 years and are financed thru Ford credit. We deserve the same deals as though buying 19-20 vehicles. We are all going thru this not just current buyers.