Ford Loyalty Program Removing Payment History Requirement

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Managing Editor

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Managing Editor - January 21, 2022

Ford Credit is changing up a loyalty program for current customers looking to get a better interest rate. According to a bulletin sent to dealers, the updated loyalty incentive will remove tier and payment history requirements and could make it easier for Ford owners & lessees to get a better deal amid an inventory shortage.

While Ford loyalty discounts offer many ways to save on a new car, truck, or SUV, the deal in question involves a Customer Loyalty Program through Ford Credit. The captive lender says approved applicants will receive a one-tier improvement, which could enable customers to access lower rates when buying or leasing.

Key requirements with the simplified program include:

  • 12-month minimum account history with Ford Credit (and active within the last 36 months)
  • No prior repossession or open bankruptcy
  • Vehicle must be for personal use only

Interestingly, this isn't the first time that Ford has revised its financing requirements. Last year, Ford Credit removed its minimum FICO score for 84-month loans. At the time, the lender told CarsDirect that it would instead rely on a proprietary formula to enable more customers to take advantage of the flexibility of a 7-year loan.

If you own or lease a Ford and are looking to get a better interest rate, it could be worth talking to a dealer about your options. The fine print states the program can be combined with promotional rates or so-called standard rates. As a result, this could enable some shoppers to enjoy rates as low as 0% APR to start the year.

Explore Top Ford Lease Deals & Rebates

, Managing Editor

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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