Ford Motor Credit Introduces Retail Financing In India - Overdrive
n18

Ford Motor Credit introduces retail financing in India

02 Nov 2015 / 1

Ford Motor Credit Company, Ford’s global automotive financial arm has launched its retail financing service in India. In its first phase, only 17 cities will get the retail financing – Delhi, Chandigarh, Dehradun, Ludhiana, Jhansi, Agra, Moradabad, Ahmedabad, Mehsana, Jamnagar, Bangalore, Chennai, Cochin, Hyderabad, Gaya, Dhanbad and Durgapur. Other dealerships will get this facility in the upcoming phases. Ford Credit India also launched its first finance program where the 2015 Ford EcoSport is offered at a discounted interest rate of 8.99 per cent annually for five years.

New Ford EcoSport - I

Mark Constable, managing director, Ford Credit India said, “Customers have the convenience of financing facilitated by the dealer, along with the expert service of a company that specialises in Ford financing and builds customer relationships. Our goal is to contribute to the great experience consumers have with Ford vehicles.”

Ford India has recently launched the facelifted EcoSport. It comes with three engine options – a 999cc three-cylinder EcoBoost producing 125PS/175Nm, a 1499cc Ti-VCT four-cylinder producing 112PS/140Nm and a 1498cc TDCi diesel engine produces 100PS/205Nm. All the models get a 5-speed manual transmission with an option of an automatic gearbox in the 1.5-litre petrol engine. Prices start at Rs 6.79 lakh, going up to Rs 10.44 lakh (ex-Delhi).

Ford Credit India Begins Retail Financing; Introduces Special Interest Rate on Ford EcoSport

· Ford Credit India begins retail vehicle financing for consumers

· Special financing program available on 2015 Ford EcoSport at 8.99% per annum

· Ford Credit India now financing both dealer inventory and consumer purchases to support Ford growth

NEW DELHI, India, October 28, 2015 – For consumers looking to bring a Ford vehicle home this festive season, Ford Credit India today announced the launch of retail financing in key dealerships across India.

In the first phase of its rollout, the retail financing is available to customers in 17 cities across India: Delhi, Chandigarh, Dehradun, Ludhiana, Jhansi, Agra, Moradabad, Ahmedabad, Mehsana, Jamnagar, Bangalore, Chennai, Cochin, Hyderabad, Gaya, Dhanbad and Durgapur. More Ford dealerships will follow in the subsequent phases of launch.

“There are new financing channels for customers purchasing a Ford vehicle,” said Mark Constable, managing director of Ford Credit India. “Customers have the convenience of financing facilitated by the dealer, along with the expert service of a company that specializes in Ford financing and builds customer relationships. Our goal is to contribute to the great experience consumers have with Ford vehicles.”

Ford Credit India also launched its first special financing program. Just in time for the festive season, qualified customers may finance a 2015 Ford EcoSport for an 8.99 percent annual percentage rate for contracts up to 60 months.

Ford India recently launched the New EcoSport with enhanced power, performance, appeal and features starting at INR 679,563 (ex-showroom Delhi). More than 200,000 EcoSport compact sport-utility vehicles have been delivered locally and overseas since the vehicle was introduced in 2013 in India.

“Globally, Ford Credit has more than 55 years of experience. The addition of retail financing to the dealer financing successfully launched earlier this year enables us to take advantage of this experience to support Ford growth plans,” said Nigel Harris, president and managing director of Ford India. “The new offering for the 2015 EcoSport is just one example of the types of programs that Ford Credit will be able to offer our dealers and customers in the future.”

Ford Credit began financing new-vehicle inventory for dealers in India in March and added used-vehicle inventory financing a few months later.

India is a key market in Ford’s Asia Pacific strategy. As part of its overall commitment to India, Ford has invested $2 billion, nearly half of which is being spent on a new manufacturing facility in Sanand, Gujarat. That facility, which opened in March, nearly doubles the company’s installed production capacity to 610,000 engines and 440,000 vehicles a year in India. Ford plans to serve both the domestic and export markets through its enhanced capacity. The company is expanding its sales and service network in India.

“Ford Credit is a great partner and helps us meet customer needs globally,” Harris said. “The financing solutions from Ford Credit promote sales and, importantly, help build satisfaction and loyalty for our customers.”


To stay at the cutting edge of automotive news in India, follow Overdrive on Twitter (@odmag) or on Facebook (facebook.com/odmag). Or download our app from the iOS or Android app stores today.


Find your next car
OR
opinion
Shubhabrata Marmar
quote
23 Jun 2017
Income lax department
Should someone earning a living from a vehicle get priority at...
Bob Rupani
quote
15 Jun 2017
The lal batti and VIP culture
The government has banned the ‘lal batti’ or red beacon...