DETROIT – First credit unions had to compete with dealer incentives that offered consumers the choice of 0% financing or rebates. Now credit unions will have to deal with new dealer incentives. After suffering a 4.6% decline in sales in April, Ford announced a new incentive in an effort to boost sales. The programs offer more cash to dealers, plus extra cash and 0% financing for buyers. The new dealer incentives are specifically focused on Ford's F-150 pickup. Dealers who meet their sales quotas on the vehicle will get up to $1,500 per unit sold. Meanwhile, customers can get a $1,000 rebate and 0% financing for 60 months on the Freestar minivan and Explorer four-door model. In addition, financing through Ford Motor Credit Co. brings the customer another $1,000 rebate. Ford also raised its rebate to $3,000 for the Explorer Sport Trac and $3,500 for the Crown Victoria. Chysler also raised its rebate to $3,500 on some of its models.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.