Ford Credit Delays Payments and Other Options Due to Covid-19 Outbreak

Building on years of helping communities during times of need, Ford is working to help customers affected by the developing coronavirus outbreak.

Update 3/25 the deferred payments come with a major glitch according to our readers—-a 30% interest charge on each differed payment.

“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.”

Ford Credit has long helped customers impacted by local and federal disasters. Now, existing Ford Credit customers in the U.S. affected by COVID-19 who purchased or are leasing vehicles are encouraged to contact Ford Credit to discuss options if they are having payment difficulty. For example, they may be able to change a payment due date or delay a payment.

Customers are encouraged to access their Account Manager profile either online  or through the FordPass app; or hotline – 1-800-723-4016 – to discuss options.

 

In addition, Ford Credit is offering a program giving customers who buy new vehicles the option to delay their first payment for 90 days.

Ford Credit will launch an ad campaign beginning today to raise awareness of the new program.

“We want to make sure that anyone who needs assistance knows it’s available,” said Marion Harris, chief executive officer, Ford Motor Credit Company.

In addition, the Ford Motor Company Fund, Ford’s philanthropic arm, is providing assistance to nonprofit organizations meeting critical community needs.

As an initial step, Ford Fund is directing more than $500,000 to help nonprofit groups in southeast Michigan and will support delivery of food to senior citizens and to thousands of children who do not have access to school meals while schools are not in session.

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.”

 

6 thoughts on “Ford Credit Delays Payments and Other Options Due to Covid-19 Outbreak”

  1. This is beyond disgusting & unbelievable to do to people during a time of crisis!!! THIS IS NOT HELPING PEOPLE, this is taking advantage of a terrible situation out of everyones hands & sticking it to the people who invest their $$$ in your vehicles!!! SHAMEFUL The government even states to allow deferals on autos up to 4 months INTEREST FREE!! If this is how Ford does business to peo9ple that kp them in business, I will never buy Ford again!!!

    Reply
    • this is HORRIBLE!!! all of the other auto financing companies are doing deferrals for up to 4 MONTHS INTEREST FREE!! That is what the government suggested….how can FORD feel good about hurting people even more during these horrible times!!!! SHAMEFUL!! I honestly dont know what to do because you get screwed either way now!! I WILL NOT BUY ANOTHER FORD if this is how they do business!!!! Shameful!

      Reply
  2. I just contacted Ford Credit to inquire about the payment deferral due to Covid-19. What you don’t mention is they charge 30% interest on each deferred payment. That is shameful and in no way helpful to those of us who have lost jobs due to this pandemic.

    Reply
  3. What Ford Credit won’t tell you is that they are charging 30% interest for deferred payments on a current lease! They are crooks and I will never lease with them again!

    Reply

COMMENT: Let Us Know What You Think