WEST PALM BEACH, Fla. – Credit union presidents and trade association economists have been saying all along that the 0% financing deals being offered by auto finance companies are unsustainable. Now at least one auto manufacturer has said so as well. A recent USA Today article reported that Ford Motor Company's no-interest financing offer had "fueled a $502 million third-quarter operating loss" for the auto manufacturer. The article also quoted Ford's Chief Financial Officer Martin Inglis as having said the cost of the no-interest offer was "unsustainable." It further noted that "Ford's marketing costs, driven by the no-interest offer and longer-term low-interest rates, rose about $2 billion in the third quarter." [email protected]
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