GM and Ford Announce Customer ProtectionPosted on March 31st, 2009
Automakers hope payment protection and equity assurance will boost sagging sales
Today General Motors and Ford announced customer protection plans that cover car payments in the event the buyer loses his job. The General Motors program includes all purchases made during the month of April; Ford’s Advantage Plan runs through June 1.
“Our Total Confidence plan is an unprecedented offer that reinvents the ownership experience in an extremely positive way,” said Mark LaNeve, GM vice president for sales, service and marketing.
The General Motors plan covers vehicle payments up to $500 for a maximum of nine months. An equity assurance clause adds negative equity assistance once the customer is halfway through the loan, if he wants to buy another GM vehicle.
All General Motors customers get a 100,000 mile powertrain warranty on new car purchases that is transferable and includes five years of roadside assistance. Vehicles equipped with OnStar come with a year of the basic safety and security package with automatic crash response.
Ford and dealerships partner to assist local charities
Ford is partnering with its dealer network to assist local charities impacted by the economic turndown. The automaker will announce further details on the outreach program in April.
The Ford Advantage Plan gives new car buyers up to $700 of payment protection for twelve months on any new Ford, Lincoln or Mercury. The program includes zero percent financing through Ford Motor Credit on select vehicles.
“This is the strongest product lineup we have ever offered,” said Ford vice president of sales and marketing, Ken Czubay. “When you combine these great products with payment protection, zero percent financing and support for local charities, customers can feel confident about getting back into the market for a new car or truck.”
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