Ford is giving its customers more legroom when buying vehicles as the company has updated its return policy.
Considering the current situation in the United States where more than 2.6 million people have been diagnosed with COVID-19, add to that the instability of the economy, buying a new vehicle may be the last thing in people’s minds.
Despite the availability of 0% financing deals and other offers presented by several automakers all over the country, car sales continue to face challenges in recent months.
As part of its efforts to encourage people to purchase vehicles, Ford is launching a 1-year return policy that allows customers to return vehicles they’ve purchased if they lose their jobs within a year of purchase.
Called the “Ford Promise,” the program is available to customers who will make their purchases or leases through Ford Credit. It applies to products from the 2019 through 2021 model years and also allows laid-off buyers to forgo as much as $15,000 of trade-in value minus deferred payments or damage fees.
However, the program does not cover commercial sales and is only activated one month after the vehicle was purchased.
According to a survey, about 32% of car shoppers are hesitant to commit to a new vehicle because of the current situation in the U.S. Through the Ford Promise program, the automaker is aiming to convince potential buyers to purchase a new car.
A spokesperson for Ford confirmed that the program started accepting enrollments on June 26 and will continue to do so until it closes on September 30.
It is worth noting, however, that buyers who decide to return their vehicles through the Ford Promise program are still obliged to pay for their outstanding balance but on a more flexible payment scheme.