Ford commits over $500k to community assistance, delays new car loan payments for 90 days
Earlier this week, Hyundai and Genesis announced vehicle loan forgiveness opportunities for buyers. Now, Ford is stepping up to the plate to help not just their customers, but the community where the company has its headquarters.
"Ford is committed to lending a hand to the people who rely on us," said Mark LaNeve, vice president, U.S. marketing, sales and service. "The peace of mind of our Ford and Lincoln customers is our top priority as we work through the developments of this outbreak."
Though the move is usually in relation to a natural disaster, Ford Credit is urging customers in the U.S. affected by Covid-19 who have purchased or leased vehicles through Ford Credit to contact Ford Credit to discuss options if they are having payment difficulty. In some instances, Ford Credit may be able to change a payment due day or delay a payment.
Customers are encouraged to access their Account Manager profile either online at accountmanager.ford.com or through the FordPass app; visit http://www.fordcreditsupport.com/ or call a special hotline – 1-800-723-4016 – to discuss options.
Additionally,Ford Credit is offering a program giving customers who buy new vehicles the option to delay their first payment for 90 days.
Turning to their local community, Ford's charitable arm, the Ford Fund, has directed more than $500,000 to help nonprofit groups in southeast Michigan and will support the delivery of food to senior citizens and children who don't have access to school means while schools are not in session.
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The two Ford Resource and Engagement Centers in Detroit are serving as drive-up food pantry distribution centers. Ford Fund also is supporting Detroit-area nonprofits that provide shelter to families and other at-risk people. In addition, Ford Fund is exploring how employee volunteers can assist nonprofits that are short-staffed.
In other parts of the U.S., Ford Fund is redirecting funds to support food programs for children no longer in school. It also is launching an emergency aid program with the UNCF (United Negro College Fund) to help students with financial difficulties at historically black colleges and universities get home following the sudden closure of some of these institutions.
"We are immediately targeting resources to ensure that the most vulnerable people are being cared for during this unprecedented situation," said Mary Culler, president, Ford Motor Company Fund. "We appreciate all that our nonprofit partners are doing and will continue to work with them to address critical needs in our communities as the situation evolves."