Finances

Ford offers vehicle loan payment delay option for Texans affected by severe winter weather

Ford Motor Company's financial services arm is offering relief to its customers.

Photo courtesy of Ford Motor Company

Ford Motor Credit Company, the financial services arm of Ford Motor Company (NYSE: F) has activated a disaster relief program to allow customers affected by the recent serve winter weather in Texas. The program allows certain qualifying customers impacted by Winter Storm Uri to be able to delay monthly payments.

"We care about our customers and understand many of them are going through a very difficult time right now," said Shannon Mokhiber, vice president, North America Business Center Operations. "We want to help and are offering them some time to recover."

The offer, which extends the deadline for up to two monthly payments, is available only to Ford Credit customers in a Federal Emergency Management Agency (FEMA) -declared disaster area who are leasing or have purchased vehicles with financing from Ford Credit or Lincoln Automotive Financial Services. Over 60 Texas counties were part of FEMA's recent Texas Severe Winter Storms (DR-4586-TX). It is currently categorized as an active disaster.

Pedestrians walk on along a snow-covered street on February 15, 2021 in Austin, Texas. Photo by Montinique Monroe/Getty Images

Customers may initiate a payment deferral immediately using the Ford Credit Account Manager digital tool or may call this toll-free number: 1-800-723-4016. Customers in other areas who need help are encouraged to contact the company. The financial services company will send postcards and/or emails with information on how to request help to customers in the affected areas.

Nearly all Texans were at least somewhat impacted by the early February storm, which left left dozens of residents dead, millions without power, and nearly 15 million with water issues. "All 254 counties will have been impacted in some way by the freeze," Lee Loftis, director of government affairs for the Independent Insurance Agents of Texas, told The Texas Tribune. "That is just unheard of."

Houstonians are also able to receive additional relief for disaster-related issues. The Harris County Appraisal District announced that Houstonians whose home saw at least 15 percent damage and who live in a disaster-declared area are entitled to a temporary exemption of a portion of the appraised value of the property, according to CultureMap reporting.

Trending News

 
 

Lincoln will not make a performance variant to compete with Cadillac.

Lincoln

TheLincoln Navigator and Cadillac Escalade have been duking it out at the top of luxury SUV rankings for decades, but there’s one area of the Caddy’s development that Lincoln won’t touch. In a recent interview, a company executive told Ford Authority that it has no plans to create a performance variant of the Navigator to compete with the upcoming Escalade V from Cadillac.

2022 Lincoln NavigatorThe new Navigator features several upscale touches and excellent tech. Lincoln

That means the Navigator will stick with the powertrain it’s carried for years, which is a twin-turbocharged 3.5-liter EcoBoost engine that makes 440 horsepower and 510 pound-feet of torque. It’s paired with a smooth ten-speed automatic and either rear- or four-wheel drive. While there’s more than enough power to get the hulking Lincoln moving, it’s not a powertrain that inspires excitement or engagement, and though beefy, it’s tuned much more for comfort and quietness than drama.

Though more than adequate, those specs are a far cry from the numbers we expect from the Escalade V. The full-size bruiser from Cadillac is expected to get a supercharged 6.2-liter V8, similar to the unit seen in the CT5-V Blackwing and Chevrolet Camaro ZL1. We don’t know power numbers yet, but the engine should deliver horsepower and torque numbers in the high 600s.

Cadillac Escalade VThe Escalade V will be massively powerful. Cadillac

That Lincoln is taking a different approach isn’t surprising. The automaker has already announced its intention to go all-electric, so pouring more time and resources into creating a performance gas-powered SUV isn’t in line with its goals. Company executives have also expressed a desire to avoid imitating rivals, so the decision to leave a performance Navigator behind is not surprising.

Trending News

 
 

First-year Ford F-150 Lightning production numbers doubled
Ford

Ford has begun serial production of the new F-150 Lightning electric pickup truck, marking what could be one of the most important days in recent automotive history. The first trucks rolled off the assembly line at Ford's Rouge Electric Vehicle Center in Michigan today, so America's best-selling truck has finally gone electric. Ford wants to sell two million EVs per year by 2026 and have half of its global sales volume to be electric by 2030.

Ford F-150 LightningPast meets future: Ford's new electric pickup will be the F-150 Lightningautomotivemap.com

Ford has seen extreme demand for the trucks, with 200,000 reservations since the books opened. To deliver, the automaker plans to increase production to an annual rate of 150,000 units by next year, which involved huge investments in the Rouge Center and created hundreds of jobs. Ford's total investment for the F-150 Lightning crests $1 billion across Michigan alone, and has created 1,700 jobs across various facilities in the state.

Ford F-150 LightningThe first production trucks left the factory today.
Ford Motor Company

Though the Lightning starts around $40,000, the most mainstream models will cost much more than that. The F-150 Lightning Pro, while affordable, is a stripped-down truck intended for commercial buyers. It's still a forward-looking electric truck with amazing capabilities, but it lacks much of the creature comforts and features that everyday drivers expect. Higher trims get the latest driver assistance features, including BlueCruise, which is Ford's semi-autonomous hands-free driving assistant. A 12-inch touchscreen is standard, along with Apple CarPlay and Android Auto, navigation, a Wi-Fi hotspot, and more.

Trending News