Sledge
08-23-2006, 12:56 PM
From AutoNews:
Ford Motor Co. will crack open the incentives vault for a month-end sales blitz that will offer 0 percent financing for as much as 72 months for Ford, Lincoln and Mercury buyers, including those with subprime credit ratings.
The program, which begins Thursday, Aug. 24, and runs through Labor Day, will be available on purchases of nearly all 2006 model vehicles, even ones in tight supply. Zero percent financing will be available to customers with subprime credit ratings, not just customers in the top two tiers, as in past programs.
Dealers were notified of the program in a conference call today by Al Giombetti, president of Ford and Lincoln Mercury; and Cisco Codina, Ford's group vice president of North America marketing, sales and service. A Ford spokesman declined comment until the company announces its Labor Day sales program.
Dealers said the program will benefit buyers who might have been turned down because of inability to make a monthly payment.
"I have a customer who was turned down, and he'll be approved," one dealer said. "In a matter of a few days, he'll be in a new car."
Dealers said the Ford GT and some larger F-series work trucks were the only exclusions.
Ford is struggling with too many cars in inventory. As of Aug. 1, Ford Division had 593,100 units in stock. Ford already has said it would cut fourth-quarter production by 168,000 units, or 21 percent of total output.
Ford Motor also received a kick in the stomach by being outsold by Toyota Motor Sales for the first time ever in July. Ford is trying to cut back sharply on sales to fleet customers, which had padded its true performance.
A Mercury Mariner Hybrid with the moonroof and premium package at 0% for 72 months is $479/mo. Tempting :)
Ford Motor Co. will crack open the incentives vault for a month-end sales blitz that will offer 0 percent financing for as much as 72 months for Ford, Lincoln and Mercury buyers, including those with subprime credit ratings.
The program, which begins Thursday, Aug. 24, and runs through Labor Day, will be available on purchases of nearly all 2006 model vehicles, even ones in tight supply. Zero percent financing will be available to customers with subprime credit ratings, not just customers in the top two tiers, as in past programs.
Dealers were notified of the program in a conference call today by Al Giombetti, president of Ford and Lincoln Mercury; and Cisco Codina, Ford's group vice president of North America marketing, sales and service. A Ford spokesman declined comment until the company announces its Labor Day sales program.
Dealers said the program will benefit buyers who might have been turned down because of inability to make a monthly payment.
"I have a customer who was turned down, and he'll be approved," one dealer said. "In a matter of a few days, he'll be in a new car."
Dealers said the Ford GT and some larger F-series work trucks were the only exclusions.
Ford is struggling with too many cars in inventory. As of Aug. 1, Ford Division had 593,100 units in stock. Ford already has said it would cut fourth-quarter production by 168,000 units, or 21 percent of total output.
Ford Motor also received a kick in the stomach by being outsold by Toyota Motor Sales for the first time ever in July. Ford is trying to cut back sharply on sales to fleet customers, which had padded its true performance.
A Mercury Mariner Hybrid with the moonroof and premium package at 0% for 72 months is $479/mo. Tempting :)