Ford, GM to cover car payments if buyer loses job
Ford Motor Co. and
General Motors Corp. are offering payment protection plans to help reassure consumers who may be putting off
buying a new car because of worries about losing their job.
The offers come as auto sales have been battered by the recession and tight credit, reaching their lowest levels in 27 years.
Ford said Tuesday it will cover payments of up to $700 each month for
up to a year on any new Ford, Lincoln or Mercury vehicle if consumers
lose their jobs. The program runs until June 1. [AP]