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Mark Rechtin | | Automotive News / August 23, 2006 - 12:06 pm / UPDATED: 8/23/06 4:45 P.M.
Ford Motor Co. will crack open the incentives vault for a month-end sales blitz that will offer 0 percent financing for as much as 72 months for Ford, Lincoln and Mercury buyers, including those with subprime credit ratings.
The program, called the Labor Day Sales Event, begins Thursday, Aug. 24, and runs through Sept. 5, the day after Labor Day. It will be available on purchases of nearly all 2006 model vehicles, even ones in tight supply. Zero percent financing will be available to customers with subprime credit ratings, not just customers in the top two tiers, as in past programs.
Dealers were notified of the program in a conference call Tuesday by Al Giombetti, president of Ford and Lincoln Mercury; and Cisco Codina, Ford's group vice president of North America marketing, sales and service.
"It's part of our aggressive 2006 selldown and we want to get our customers the best deal nationwide," spokeswoman Whitney Drake said today. "It will move our 2006 inventory."
Dealers said the program will benefit buyers who might have been turned down because of inability to make a monthly payment.
"I have a customer who was turned down, and he'll be approved," one dealer said. "In a matter of a few days, he'll be in a new car."
The Ford GT and some commercial trucks will be excluded from the offer.