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Ford, GM Launch Assurance Programs
Mar 31 2009 by Jennifer Newman
It’s tough out there, but Ford and GM are joining Hyundai in launching assurance programs to take some of the worry out of buying a car in these difficult economic times.
If you lose your job within nine months of buying a new Ford, Lincoln or Mercury car, the Ford Advantage Plan will cover your car payment, up to $700 a month, for a year. The program, which begins today, runs through June 1.
GM’s program is called GM Total Confidence, and it offers payment protection on a new GM car for the first 24 months of ownership. If you lose your job, GM will make up to nine car-loan payments of up to $500 a month. GM’s program also offers Vehicle Value Protection, which covers the difference in trade-in value if the car’s loan balance is more than its retail value. To qualify for this, you’ll need to have made half of your car’s total loan payments when you go to trade it in. The Total Confidence program begins Wednesday and runs through April 30. You can visit GM’s website for the plan at gmconfidence.com.
Hyundai started its Assurance Plan in January. Under the plan, car buyers who have lost their jobs can return their new Hyundais with little to no penalty during the first year of ownership. Hyundai will also cover three months of car payments. The plan ends April 30.
The Ford Motor Company is an American multinational corporation and the world’s fourth largest automaker based on worldwide vehicle sales, following Toyota, General Motors, and Volkswagen. Its really a good start that thse two companies are going to start a new phase for giving assurance. - Concept Cars.
http://www.localcarsnow.com