Ford announced today that it will continue offering zero percent financing and customer cashback up to $US2,500 until Monday, April 8, on most 2002 Ford brand cars, trucks and SUVs.

Meanwhile, General Motors Corp announced that it would "remain in Overdrive" with a new programme that offers $2,002 cashback or APR financing rates of 0.0/2.9/3.9% (36/48/60 months) for qualified buyers on the purchase of most new 2002 model Chevrolet, Pontiac, GMC, Buick, and Oldsmobile cars and trucks until the end of March.

Several models will offer $1,500 customer cashback or the 0.0/2.9/3.9 APR rates including the Chevrolet TrailBlazer; Silverado Extended Cab and Crew Cab; Suburban and Tahoe; GMC Envoy; Sierra Extended Cab and Crew Cab; Yukon and Yukon XL models; Oldsmobile Bravada and Pontiac Aztek.

Cadillac, Saturn, Saab, Hummer, Chevrolet Corvette, GMC Envoy XL and all 2003 models are excluded.

The current Ford incentive programme, scheduled to expire Tuesday, March 5, offers $1,000 to $2,500 customer cashback or zero percent financing on 36-month contracts for most vehicles. Financing rates of 2.9 and 4.9 percent are available on 48- and 60-month contracts.

Details of the new programme will be released on Monday.

Ford has also announced a new lease incentive, offering lease loyalty bonuses of up to $1,500 on most 2002 Ford brand vehicles for returning lease customers.

Available from today until Monday, April 8, the new lease loyalty bonuses are in addition to current cashback rebates, up to $2,500, being offered on most vehicles.

The additional lease loyalty bonuses of $1,000 for cars and $1,500 for trucks and SUVs are available on all models, except the Thunderbird.

Since September, Ford has continued to offer a zero percent financing option due, it said, to high customer demand.

Of those Ford customers who finance their vehicles, about 30 percent choose the zero percent, 36-month contract.