August 23, 2006
Ford Motor plans a zero percent loan sales promotion through Labor Day offering no-interest financing for as much as 72 months for Ford, Lincoln and Mercury buyers. The promotion will include loans to people with sub-prime credit ratings.
The no-interest sale will be available on nearly all 2006 model vehicles, even vehilces in tight supply.
Zero percent financing will be available to customers with sub-prime credit ratings and not just customers in the top two credit tiers as has been the case with past programs.
Ford will not offer zero percent financing on the Ford GT super-car and some larger F-series work trucks.
Ford is struggling with a hefty inventory with 593,100 units in stock. The automaker also plans to cut fourth-quarter production by 168,000 units, or 21 percent as Ford continues to struggle with mounting losses.
Toyota outsold Ford for the first time ever in July as Ford cut back on sales to fleet customers, which had padded its true performance.
