Ford Offering Cheap Loans on Pickup Trucks

DETROIT Oct 3, 2006; Reuters reported that Ford Motor Co. said it was offering low-rate financing deals on many of its 2007 model-year vehicles and interest-free loans on its 2006 vehicles to boost sales.

The No.2 U.S. automaker, as part of its new "Truck Month" campaign, is offering zero-percent loans for 60 months on its 2006 pickup trucks, including the F-Series lineup, in an effort to clear inventory.

"In some instances, some of the zero percent financing deals on 2006-model year products has been extended from earlier offers," Ford spokeswoman Lydia Cisaruk said.

Also, the company is offering a loan rate of 2.9 percent for 60 months on 2007 model year F-Series Super Duty and Ranger pickup trucks or a $2,000 cash rebate on these vehicles.

Ford, which will release its September U.S. sales results later on Tuesday, has cut fourth quarter production by 21 percent to reduce swollen inventories of unsold vehicles.