Ford to Extend More Loans to Young Buyers
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Ford to Extend More Loans to Young Buyers
Here is your chance to pick up a new car.
NEW ORLEANS - Ford Motor Co. (F) hopes to eke out a gain in its U.S. sales this year by offering more loans to young car buyers, a senior company official said on Sunday.
``Ford Credit is doing some things for young buyers that we think will make a difference,'' Lyons said, referring to Ford's financial arm.
Among other moves to ease its lending policies, Lyons said Ford Credit was ``changing the way they look at debt to income ratios for young buyers.''
He did not elaborate, but said the changes meant that Ford would not longer use the same credit standards to assess people across all age groups and income levels.
For young people, who often have no credit rating at all, Ford Credit's analysts will now allow them ``to stretch a little more, anticipating growth in income later on,'' Lyons said.
``We will not finance people that don't pay us back. Nobody wants us to do that,'' Lyons said.
In a new consumer incentive, also aimed at ratcheting up Ford's sales, Lyons said Ford was also now matching downpayments toward purchases of its compact Focus car.
``We'll match up to $500 in addition to any other rebates. If you want to put the $500 down we'll match it,'' he said.
NEW ORLEANS - Ford Motor Co. (F) hopes to eke out a gain in its U.S. sales this year by offering more loans to young car buyers, a senior company official said on Sunday.
``Ford Credit is doing some things for young buyers that we think will make a difference,'' Lyons said, referring to Ford's financial arm.
Among other moves to ease its lending policies, Lyons said Ford Credit was ``changing the way they look at debt to income ratios for young buyers.''
He did not elaborate, but said the changes meant that Ford would not longer use the same credit standards to assess people across all age groups and income levels.
For young people, who often have no credit rating at all, Ford Credit's analysts will now allow them ``to stretch a little more, anticipating growth in income later on,'' Lyons said.
``We will not finance people that don't pay us back. Nobody wants us to do that,'' Lyons said.
In a new consumer incentive, also aimed at ratcheting up Ford's sales, Lyons said Ford was also now matching downpayments toward purchases of its compact Focus car.
``We'll match up to $500 in addition to any other rebates. If you want to put the $500 down we'll match it,'' he said.
I bet that deal is on select cars and it's just a ploy to get people in there. Chances are some people think their credit is too poor to qualify for a loan. When in reality they are okay. Ford wants to get these people in to make sales but they haven't changed their policies one bit. Just bait for the borderline people...
I'm a sceptic when it comes to these things.
I'm a sceptic when it comes to these things.
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'98 Laser Red Cobra #634 of 5174
UPR Power Pipe, BBK off-road H, Flowmasters, 4.10 gears, battery relocated to da' trunk, rear seat delete, Cobra R 17x9 rims with Nitto 315's out back, shaved door locks, 13.35 @105
'01 Silver Cobra #2709
Procharger P1SC w/10# pulley, 3 core IC, Bassani OR X, Steeda catback, 42# injectors, Lightning 80mm MAF, Tri-Ax, Fat Knob, Battery in da' trunk, JMS Tune 432rwhp / 390rwtq 12.54 @ 115 on street radials
SOLD 6-13-03
'98 Laser Red Cobra #634 of 5174
UPR Power Pipe, BBK off-road H, Flowmasters, 4.10 gears, battery relocated to da' trunk, rear seat delete, Cobra R 17x9 rims with Nitto 315's out back, shaved door locks, 13.35 @105
welcome to 20% interest.
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Jeff
93 Coupe - check out my blog - http://www.93coupe.com
01 Cobra - Stockified - Wife Owned and operated
68 Coupe PROJECT <- Been in the family for 25 years!
Jeff
93 Coupe - check out my blog - http://www.93coupe.com
01 Cobra - Stockified - Wife Owned and operated
68 Coupe PROJECT <- Been in the family for 25 years!
Re: Ford to Extend More Loans to Young Buyers
Originally posted by Scott
NEW ORLEANS - Ford Motor Co. (F) hopes to eke out a gain in its U.S. sales this year by offering more loans to young car buyers, a senior company official said on Sunday.
NEW ORLEANS - Ford Motor Co. (F) hopes to eke out a gain in its U.S. sales this year by offering more loans to young car buyers, a senior company official said on Sunday.
Sure, it may cost more, but in the long run, they will gain the market-share by means of retaining customer loyalty.
They need to stop worrying about how much they can gain in the next quarter, and worry more about how to gain in the next 5 to 10 years.
-Snedogg
Former Ford Customer (6 times)
i was one of those young buyers they were looking for, i was told i was getting a great deal at 11.99 pecent of a brand new car, ford credit can go suck a dick.
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SOME PEOPLE ARE ALIVE SIMPLY BECAUSE IT IS ILLEGAL TO KILL THEM
SOME PEOPLE ARE ALIVE SIMPLY BECAUSE IT IS ILLEGAL TO KILL THEM
I would rather wait and get a Mazda 3 instead of buying a Ford Focus. Much better setup and we NEVER work on them at the dealership. Just the Mazda 6's and POS RX-8's . If I couldn't afford either I would really go with a Hyundai, they are cheap, reliable, have nice ass warranties, and are the easiest car I've ever had to work on. They keep it simple.
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"Genuine" ASE certified Mazda, Hyundai, Isuzu Technician
Escort Enthusiast Site
Automotive Electrical Specialist, Tuning Specialist