Ford has begun advertising a new 0% finance for up to 72 months deal for most 2006 models on its US consumer website.
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The ‘Labour Day Sales Event’ runs until 4 September and even offers the 0% rate to some ‘subprime’ borrowers rather than the top two tiers of credit worthiness as in previous campaigns.
The 0% rate will not be offered in conjunction with any cash incentives, such as rebates or discounts, Ford spokesman Jim Cain told Dow Jones Newswires, which noted that customers can opt to take a cash incentive instead of the cut-rate financing.
Automotive News, which broke the news on Wednesday following a Ford conference call with dealers, said the promotion was aimed at reducing inventory with Ford Division alone having 593,100 vehicles in stock on 1 August.
Cain told Dow Jones that each of Ford’s three domestic brands would have a different way of advertising the deal.
“When it’s model year sell-down time, people want a plan that’s simple and easy to understand and applies across the board and that’s what we’ll deliver,” Cain reportedly said.
