AutoGuide News Blog
The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
Just as General Motors announced it’s GM Total Confidence plan earlier today, Ford is getting into the incentive game with its new Ford Advantage Plan.
The “Plan” one-ups GM’s offer by covering 12 months of car payments for anyone who loses their job. Better still, the Ford will make those payments up to $700.
“Consumers remain anxious about the economy and their own outlook for the future. We at Ford want to do our part to rebuild faith in the marketplace by offering payment protection on every new Ford, Lincoln or Mercury vehicle for up to a year if our customers lose their jobs,” said Ken Czubay, vice president of Sales and Marketing.
The Ford Advantage Plan also includes zero percent financing on select Ford, Lincoln and Mercury vehicles.
Ford is not, however, offering a “negative equity” plan like General Motors, instead citing that FoMoCo cars have a high residual value.
“Ford’s improvements in quality have contributed significantly to our year-over-year improvements in residual values,” said Czubay.
“This is the strongest product lineup we have ever offered. When you combine these great products with payment protection, 0 percent financing and support for local charities, customers can feel confident about getting back into the market for a new car or truck.”
The Ford Advantage Plan runs from today until June 1st.
Official release after the jump:
In a bid to help pump-up auto sales in the month of April, General Motors has just announced a new list of incentives. Called “GM total Protection” the package includes some added GM bonuses as well as a few new items aimed at protecting the buyer.
Two two major incentives are what GM calls Payment Protection and Vehicle Value Protection.
Payment Protection will cover monthly car payments on a financed vehicle for 9 months, in the case the the owner loses his or her job due to the economy. It applies to the first 24 months of ownership and GM will cover car payments u to $500.
As for Vehicle Value Protection, this incentive is aimed at helping buyers out down the road. (Not to mention it will likely keep a GM buyer coming back to GM). The way it works is that after a customer has completed half of a finance contract, they are eligible for negative equity assistance if they purchase a new GM product. In other words, if after 30 months of a 60 month contract you wish to trade in your Impala on which you owe $15,000 (but which is only worth $12,000) GM will ignore the difference – making purchasing another GM product down the line an attractive offer.
The other two incentives in the “GM Total Confidence” program are a 5 year/100,000 mile limited powertain warranty with roadside assistance, as well as one free year of OnStar.
“Our Total Confidence plan is an unprecedented offer that reinvents the ownership experience in an extremely positive way,” said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. “Unlike other programs out there, ‘GM Total Confidence’ provides comprehensive coverage for new vehicle owners – from protecting their new vehicle investment to protecting their family’s income. GM Total Confidence provides customers peace of mind in uncertain times.”
The GM Total Confidence package is available from April 1st to 30th.
For more info visit: www.gmconfidence.com