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FORD, GM To The Rescue: Auto Companys Announce Plans To Cover Car Payments For Unemployed

March 31, 2009

FORD, GM To COver Auto Payments For Unemployed

FORD, GM To COver Auto Payments For Unemployed


Source: The Huffington Post

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.

Hours later, GM said it will make a similar offer. GM’s new CEO, Fritz Henderson, said the company will make up to nine car payments of $500 each for customers who have lost their jobs through no fault of their own.

Customers must qualify for state unemployment to be eligible for the program. The program starts April 1 and runs until April 30.

Read more HERE.

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3 comments

  1. well something good is finally happeneing inthe auto world – maybe that stupidity of a plan was a kick in the ass too them….but uhmmzzzz – what is chrsyler doing…hopefully kissing fiats ass cause they need them severely…

    good stuff there darling


  2. Wow. A bailout recipient that is actually using their money to help repair the economy?! Who knew!? It’s acutally a vey smart idea to generate income long-term. People will be paying off cars long after the economy (hopefully) rebounds. Smart strategy.


  3. this is true…but that is IF the economy rebounds – which i think could potentially start with the auto companies get back on their feet – casue when that does…micghian gets back on its feet (yeaaa we are total slackers right now) and i mean thats 1 state down 49 more to go – and there isnt as much work to do in the other states cause – we are ranking as the 2nd worst economy in the USA…

    ugh why do i even admit im from MI…?
    now if we can get the banks on board – well wham bam problem solved



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