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Manufacturing Industry Updates

Ford Will Let You Return Your New Vehicle if You Lose Your Job

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The coronavirus pandemic continues to cause economic uncertainty, resulting in fewer people buying big ticket items like new cars. In an effort to put buyers’ minds somewhat at ease, Ford will allow anyone who loses their job within a year of buying a new Ford car, truck or SUV to return it at no cost if the vehicle was financed through Ford Credit, the automaker said.

Under the Ford Promise Plan, Ford Credit will pay for the difference between what the car is worth at that time and what the customer still owes, up to $15,000. The offer applies to vehicles purchased or leased on June 26, 2020, or later.

Ford Chief Operating Officer Jim Farley said in early June that the company has built about 96% of its planned volume and was in the process of adding a third shift back to key facilities, according to The Detroit News. The automaker plans to return all of its U.S. plants to full, pre-COVID-19 capacity by Monday.

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