Ford automaker announced on Monday, June 29, that it would benefit customers who lose their jobs within a year of buying their car to return it. This follows the harsh economic times brought about by the pandemic.
Under the recent financing terms known as the Ford Promise Plan, in case a customer loses their job within a year of buying their Ford machine, they can return it.
On their part, Ford credit will cover for the cost of the car’s value t the time and what the buyer owes up to $15,000.
According to ALG, a firm that tracks the estimate of used vehicles, the provided $15,000 limit will sufficiently cover for the one-year loss.
However, this offers only applies to financed Lincoln vehicles or leased through Lincoln Automotive Financial Services. Also, used or new Ford cars leased or financed through Ford credit.
Lincoln is one of Ford’s opulent vehicle band. The offer doesn’t apply to vehicles purchased through other companies, leased, financed, or paid in cash.
Besides, may restrictions apply. For example, the loss of a job can’t be within a month of signing the lease or purchase contract, and it must be spontaneous.
If forced to take personal bankruptcy, self-employed individuals with Ford vehicles can take advantage of the program.
Additionally, the provisions only apply to Ford vehicles leased or bought on June 26, 2020, or later on. Any vehicle leased or purchased earlier doesn’t fall under this category.