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Ford will let you return your new car if you lose your job

Ford announced Monday that it would allow anyone who loses their job within one year of buying a new car, truck or SUV to return it at no cost.
(WTVG)
Published: Jun. 29, 2020 at 5:04 PM EDT
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KNOXVILLE, Tenn. (WVLT/CNN) - Ford announced Monday that it would allow anyone who loses their job within one year of buying a new car, truck or SUV to return it at no cost.

CNN reported that, under the terms of the Ford Promise Plan, Ford Credit will pay for the difference between what the car is worth and what the customer owes up to $15,000. That should be enough to cover the loss in value for most Ford vehicles, ALG reported. That’s a company that tracks used car values.

The offer applies to only new or used Ford vehicles financed or leased through Ford Credit or used Lincoln vehicles financed or leased through Lincoln Automotive Financial Services.

There are restrictions, such as, the job loss can’t be within 30 days of signing the purchase or lease contract, and it must be involuntary. Self-employed people can take advantage of the program if they’re forced to declare bankruptcy. The offer only applies to vehicles purchased or leased on June 26, 2020 or later.

The offer only applies to those vehicles purchased or leased on June 26, 2020, or later.

Copyright 2020 WVLT. All rights reserved.

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