Ford Motor says it is offering a payment protection plan to help reassure consumers who may be putting off a car purchase because of worries about losing their job.
The offer comes as auto sales have been battered by the recession and tight credit. 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. Hyundai Motor Co. has been offering a deal that allows buyers to return a vehicle within a year if they can't make the payments due to a job loss or disability. Dearborn, Mich.-based Ford is also offering zero percent financing on certain vehicles.