New press releases from Dearborn, Michigan are announcing something called the Disaster Relief Program, a setup facilitated by the captive financing company FMCC or Ford Motor Credit Company, that will allow some Ford car, truck or SUV owners to defer monthly payments for up to two months following hardships related to the flooding and storm damage that has wracked America’s Mid-Atlantic coast, as well as other areas of the country.
Storms having been hitting the American coast hard in the first months of 2011. In some communities, churches and schools have collapsed, power outages have threatened families, and many homes have been partially or completely destroyed. With the new loan deferment offer, Ford Credit is adding one more resource for families who are struggling to manage their budgets after taking a hit from a tornado, hurricane or other storm, or after water damage has destroyed possessions or reduced home value.
The Ford Credit loan deferment opportunity involves more than just those who have bought a Ford car, truck or SUV directly from the company. The possibility of forestalling repayment temporarily also applies to some of Ford’s past ‘marque holdings’ such as Jaguar and Land Rover, as well as loans from Mazda American Credit, Volvo Car Finance or a more obscure financing company called PRIMUS. Ford Credit customers will get postcards with instructions about the loan deferment. Others should contact their loan companies and inquire.
Although the Ford Credit loan amnesty initiative looks brand new, a search of past news on the manufacturer’s web site shows that Ford Credit has been offering similar breaks to Americans in various areas for years. Some consumers are wondering whether the same offer will apply to Ford car, truck or SUV owners in communities hit by future storms. Others are applauding Ford for the loan deferment initiative and citing a lack of similar programs from Honda, Toyota or even Chevrolet. For more on Ford Credit eligibility standards and more, call the manufacturer at 1-800-723-4016.