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buying Ford rolls out 1-year return policy for car buyers amid COVID-19 uncertainty

21:52  30 june  2020
21:52  30 june  2020 Source:   cnet.com

Ford Will Let You Return Your New Car If You Lose Your Job in the Next Year

  Ford Will Let You Return Your New Car If You Lose Your Job in the Next Year Ford Will Let You Return Your New Car If You Lose Your Job in the Next YearAvailable to customers who finance their purchases or leases through Ford Credit, this "Ford Promise" scheme offers laid-off buyers of 2019 though 2021 models the freedom to return their vehicles and forego up to $15,000 of the vehicle's NADA-appraised trade-in value--minus deferred or late payments or any damage fees. This coverage doesn't apply for commercial sales, and only activates one month after vehicle purchase, so today isn't the day to let your boss know how you feel about their mask apathy.

Buying a new car likely isn't a priority as economic uncertainty begins to bake in amid the coronavirus era, but Ford's latest program hopes to lay some of those fears to rest.

Ford's buyback program adds a safety net for buyers during coronavirus crisis

  Ford's buyback program adds a safety net for buyers during coronavirus crisis Ford's buyback program adds a safety net for buyers during coronavirus crisis originally appeared on Autoblog on Mon, 29 Jun 2020 12:53:00 EDT. Please see our terms for use of feeds.

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Titled the Ford Promise, the US automaker said on Monday it will allow new car buyers and lessees who finance through Ford Credit to return a vehicle with no strings attached in the event they lose their job. No, buyers won't be guaranteed a full refund, but they will have a burden of debt taken off their backs, should a worse-case-scenario play out.

Diving into the details, Ford said it will value any car based on the National Automobile Dealers Association average trade-in value, reduce a customer's amount owed by the NADA figure and then waive up to $15,000 extra. If there's a remaining balance after the assistance, the buyer or lessee will be responsible, but even then, it should hopefully be a fraction of the original loan or lease amount.

Collapse of air traffic: Rolls-Royce will cut "at least" 9,000 jobs

 Collapse of air traffic: Rolls-Royce will cut © AFP The Rolls-Royce engine manufacturer, which has already reduced its workforce by 4,600 people since 2018, will cut "at least "9,000 jobs due to the crisis in the airline industry. Handled by the collapse of air traffic linked to the Covid-19 pandemic, the British aircraft engine manufacturer Rolls-Royce announced on Wednesday the abolition of "at least" 9,000 jobs. Bad news keeps coming for jobs in the aeronautics sector.

Those who enroll should also know they'll be responsible for any late fees and deferred payments arranged through Ford Credit. However, once everything's squared away, Ford will report the account paid and closed -- no derogatory marks.

Some other details important for interested parties: Ford Promise will only cover buyers for a full year after 30 days of the initial purchase. Thus, if you buy a car today and lose your job on Friday, the program won't be applicable. After the 30-day period, owners and lessees will see the benefits become active.

Anyone who purchases or leases a new or used 2019, 2020 or 2021 Ford vehicle will have the Ford Promise benefits available to them; enrollment runs until September 30.

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This was originally published on Roadshow.

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