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Ford, GM announce new buyer assurance incentives

Nelson Ireson

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The plan pays for new cars if the buyer loses their job

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All the great deals on new cars going around are tempting to many who would be buyers but for the tenous state of the overall economy, but not tempting enough to overcome the fear of a lost job, repossession and the trouble that follows. So Ford and General Motors are both stepping up today with new buyer assurance plans that will cover car payments if a new car buyer loses their job.

The two American carmakers are late to the party, however, with Hyundai having pioneered the idea over a month ago. Ford's deal goes further than Hyundai's, however, covering a full 12 months of payments compared to the Korean carmaker's 3 months. Ford caps the payment size at $700 month - enough room for a well-equipped Lincoln MKS under the right financing conditions.

GM limits the payment coverage amount to $500 per month, but covers any nine months during the first 24 months of ownership. The package also comes with a standard 5-year, 100,000mi powertrain warranty with roadside assistance.

Both Ford and GM's deals are directly targeted at allaying consumers' worst fears and getting them back onto showroom floors, where they can actually take advantage of the incentives and new models now available.

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sales GM Hyundai Assurance

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Ford Hyundai News

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Comment (1)

jay bailey Posted: 3/31/2009 11:36pm PDT

It's amazing just how far these car companies are willing to go right now. Check out a funny take by Spin Serum on the new marketing strategy. Good stuff.

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