Ford Motor (NYSE:F) wants to be the company for customers to run to whenever they need the best products! It works to appeal them in many ways. This time around, it creates a leeway that will make it possible for people who lose their jobs to return the vehicles. Some of the vehicles to be returned include trucks, the Ford car, or SUV.
The Ford Promise plan
The business guru says that these persons won’t have to pay anything in the undertaking. The company is currently focused on a new financing program known as the Ford Promise Plan. It is a plan meant to cushion persons that will lose their jobs within one year from the point they bought new Ford Vehicles.
According to the automaker, its plan will pay for the difference between the value of the car at the moment and what is owed by the customer. It is projected to cater to a figure of up to $15,000. The company outlines that this amount is enough to take care of the loss in the value experienced over one year by the Ford vehicles.
Ford has mentioned some of the restrictions. For example, the company will make important decisions based on the duration from the point of purchase or the leasing exercise. There are plans to strike out anything below 30 days.
The take of other manufacturers
Other car manufacturers say they will provide deferred payments to customers. They will uphold that for months. A good example is Hyundai, which seeks to cushion the various customers who lost their jobs after the outbreak of the deadly COVID-19 pandemic.
Experts have applauded Ford’s plan saying that it is quite favorable to the customers. They say that it will be an opportunity for customers to walk away almost freely after a long time.
Ford has spoken about its collaboration with Disney Media Networks. In the new plan, the two sought to mark the return of the popular and iconic Bronco SUV. This is expected to be done through a series of short films. They will be broadcasted across several digital and cable properties.