Ford Credit Finances Fewer Autos as Zero Percent Loans Decline
Ford Motor Co.'s consumer-credit business is financing fewer Ford, Lincoln and Mercury cars and trucks as the world's second-largest automaker cuts back on zero percent financing, the unit's president said, according to Bloomberg News.
Ford Motor Credit financed 69 percent of Ford, Lincoln and Mercury vehicles in the fourth quarter, when no-interest loans -- first offered by General Motors Corp. and then by
Ford, Chrysler, and some of the Japanese imports -- gave the biggest boost to U.S. sales.
The unit's share of Ford financing is probably down 10 percentage points under the current program, which offers rebates of as much as $2,500 or no-interest loans, according to Ford executive Greg Smith.
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