US:Ford Motor Credit allowing hurricane victims to defer car payments
Ford Motor Credit allowing hurricane victims to defer car payments
DETROIT -- The finance arms of General Motors Corp. and Ford Motor Co. said Tuesday they are allowing customers affected by Hurricane Katrina to defer their car payments.
GMAC spokeswoman Joanne Krell said customers should contact local GMAC offices for an extension of up to 90 days. The company also will waive late charges for people who have been affected by the hurricane.
"We take a very commonsense approach to this," Krell said. She added that GM and GMAC plan to donate at least $500,000 to the relief effort.
Ford's program is open to customers living in counties that have been declared disaster areas by the Federal Emergency Management Agency. The offer includes customers of Ford Motor Credit Co., Jaguar Credit, Land Rover Capital Group, Mazda American Credit, PRIMUS Financial Services and Volvo Car Finance.
Eligible Ford customers should receive a letter within a week and must register within 60 days to qualify. Customers also may contact the companies if they believe they're eligible but haven't been notified.
It wasn't immediately known whether Chrysler Group also would defer payments. Messages were left with DaimlerChrysler Services.
Ford shares fell 10 cents to $9.67 in early afternoon trading on the New York Stock Exchange. GM shares were up 9 cents to $34.13.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....