On March 31, 2009 Ford Motor Company announced the details on their Ford Advantage Plan which is similar to the popular plan announced months ago by Hyundai. In a nutshell the Ford Advantage Plan lets you buy or lease a new Ford, Lincoln or Mercury vehicle with the peace of mind of the Ford Payment Protection Program.
I have provide a link to page to the Ford Advantage Plan Q&A Sheet which has more details on the offer, but here is the high level details:
It pays the monthly amount due on your new vehicle purchase/lease up to a maximum monthly benefit of$700, for a maximum of 12 Benefit payments
Benefit is paid directly to your financing source
No cost to you
It is important for you to continue to make your monthly financing payments on your account until you have received notification that your Benefits have been approved in order to maintain your current account status
With Ford’s move into a payment protection plan it would seem that the Automotive industry has done enough research to show that the only way to get people to buy a new car is to limit their downside risk.
Building Consumer Confidence and giving Added Value for the consumer.
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