Ford delays car payments for victims of Iowa tornado
Car payments are way down on the list of concerns for victims of the recent tornados in Iowa. Thus, Ford Motor Credit has introduced a Disaster Relief Program that will offer grace from one or two monthly payments to qualified customers. Lease customers, or buyers who financed purchases through Ford Credit or other brand-specific financing arms (Jaguar Credit, Land Rover Capital, Mazda American Credit, Primus, or Volvo Car Fiance) will be notified by mail about how to register. Once registered, customers can postpone one or two months worth of payments, allowing them to focus on putting their lives back together again before worrying about the next check to Ford. We expect other automakers to follow Ford's lead this week as the extent of damage caused by Iowa's strongest tornadoes in 32 years is fully revealed.
[Source: Ford Motor Credit, Photo: NOAA]
PRESS RELEASE
Ford Motor Credit Offers Financial Relief to Tornado Victims
DEARBORN, Mich., May 30 -- Ford Motor Credit Company is offering customers affected by the recent devastating tornados in Iowa the option to delay some car payments. Ford Motor Credit's Disaster Relief Program allows qualified customers to delay one or two monthly payments, resuming their regular payment schedules when their situations improve.
Ford Motor Credit customers who are eligible for the Disaster Relief Program will be sent letters with instructions on how to register. The offer is available to customers who are leasing or have purchased vehicles with financing from Ford Credit, Jaguar Credit, Land Rover Capital, Mazda American Credit, PRIMUS or Volvo Car Finance.
Customers also may call the toll-free number listed for their brand to register for the Ford Motor Credit Disaster Relief Program:
Ford Credit: 1-800-723-4016
Jaguar Credit: 1-800-945-7000
Land Rover Capital Group: 1-877-507-2264
Mazda American Credit: 1-800-945-4000
PRIMUS Financial Services: 1-800-945-4000
Volvo Car Finance: 1-800-770-8234
"Some of our customers may have temporary financial problems because of the devastating tornado," said Mike Bannister, CEO and chairman. "We understand that. We hope our Disaster Relief Program will ease our customers' financial concerns as they focus on rebuilding and healing."
Ford Motor Credit Company LLC is one of the world's largest automotive finance companies and has supported the sale of Ford products since 1959. Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company. It provides automotive financing for Ford, Lincoln, Mercury, Jaguar, Land Rover, Mazda and Volvo dealers and customers. More information can be found at www.fordcredit.com and at Ford Motor Credit's investor center, www.fordcredit.com/investorcenter/ .
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Reader Comments (Page 1 of 2)
justin 8:09AM (6/02/2008)
Good move Ford!
This is common sense good business practice.
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Chris 8:36AM (6/02/2008)
Many lenders do this. Its not a Ford thing, apparently someone in Ford is wanting bragging rights and made sure people who do talk would.
Blake 11:13AM (6/02/2008)
Chris, it's called good PR, dude.
Dustin 5:11AM (6/03/2008)
Ford Credit will do this for anyone, they just move that payment to the end of your term. Just call and ask, it took me all of 3 minutes one tough month, no questions asked.
I do like the attention they give to those in need, but I question their motives.
Randy 9:50AM (6/03/2008)
Yes! It's good PR!
I'm really getting tired of negative people on here! Ford could cure cancer and "certain people" would say something like "yeah they cured cancer, but do you remember the bad wire on that other model?"
To Anti-Fanboys
Go Find a Cure - For Yourself
Ben 8:14AM (6/02/2008)
This is assuming their mailboxes are still standing, right?
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John 8:23AM (6/02/2008)
That's exactly what I was thinking... "notify by mail"??
Nick 8:45AM (6/02/2008)
A lot of the cars were destroyed when the tornadoes came through so insurance is probably going to buy out the loans within a couple of months anyway. Still, this is at least one less thing that the people who lost everything will have to worry about, good move Ford and hopefully others will follow.
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G Curnew 9:03AM (6/02/2008)
Ford likely loves that whatever drivel they (and their subs) spit out in "news releases" will be picked up by bloggers. Mailing notices to people whose houses have been destroyed, telling them how to register for a program Ford could simply expedite by email or telephone makes as much sense as Lincoln-branded pickup trucks. What an anachronistic joke of an organization.
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cameron42985 9:24AM (6/02/2008)
Another good deed by Ford shot down by some nobody.
Makes me laugh.
Randy 2:29PM (6/03/2008)
So should they call the phones that are attached to the houses that blew away with the mailboxes?
Gcurnew 3:21PM (6/03/2008)
Wow, this isn't rocket science, Randy. Chances are pretty good Ford Credit would have a cell phone or a work number on file.
boulderhorn 9:15AM (6/02/2008)
Nissan credit extended this offer to me when the tornado came through Atlanta a little while back. I was not affected by the storms but the offer was very nice of them.
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Alex 9:25AM (6/02/2008)
I am amazed by the cynicism of people. It is so easy to take shots on the American Auto Industry, but when one of them steps up and offers relief, it's not enough.
The one form of communication that is not shut off when a storm hits is the postal mail. E-mail? Phone calls? Are you kidding? Do you honestly think that most of these people even have them up right now?! The US Postal service is not making mail deliveries right now and throwing mail on the shattered remains of a house. They keep a hold of it, and you can go to the post office and pick it up.
Grow up people. You sound more like a contemptuous ass than the educated elitist you were trying to be.
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Kaptain75329 10:39AM (6/02/2008)
And this is what you get when someone with a working brain posts what should be obvious.
+1
Ben 12:34PM (6/02/2008)
That is assuming the post office is still standing as well.
Lots of assumptions here to make sure customers get their notices.
Skywriting is their Plan "Z". :)
JoeBlack 8:03PM (6/02/2008)
A good, intelligent post Alex.
Ben, the post office doesn't need to be standing. If the PO building was destroyed they will use another facility. "Nor rain, nor sleet, nor snow" isn't just hot air; USPS would be the most reliable and comprehensive form of communication after such a disaster.
Mal Fuller 10:15AM (6/02/2008)
What a relief, following the loss of your home, car and everything else you own to know that you don't need to worry about the car payment for a couple of months.
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Hamud 10:18AM (6/02/2008)
It's always the same thing, if they do something wrong then a lot of people line up to bash, if they do something right, guess what, the same people line up again to say they are trying to gain some space in the midia...
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Richard Warren 12:39PM (6/02/2008)
Good for Ford. Living in Iowa 30 miles away I can tell you that town is in distress. Any help helps.
The two companies I own have already assisted the folks in that town as well as our city helping out.
It's easy to be cynical when it hasn't happened to you.
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