Ford Credit Consumer Finance Contracts to Include New Disclosure Language

DEARBORN, Mich., Feb. 12, 2004 -- Ford Motor Credit Company today announced it will change its contracts to make it clearer that consumers can negotiate finance rates and that dealers may retain a part of the finance charge.

Ford Credit was the first to adopt a plain-language financing contract and was active in discussions with industry groups such as the American Financial Services Association and the National Automobile Dealers Association in developing the new industry-standard disclosure language.

"We strongly support dealer and association initiatives that will provide additional transparency in automotive financing," said Greg C. Smith, chairman and CEO. "Consumers should understand the process as they make this important financial commitment, and we support the industry's call for additional disclosure language in auto finance contracts."

Ford Credit is an industry leader in educating consumers about the financing process and took an active role in credit education more than 10 years ago with the launch of the Credit Drives America program. Since then, the company has sponsored numerous cross-cultural credit education programs for students and adults, including Jump $tart, Credit For A Lifetime and the Multi Cultural-Alliance.

Ford Credit and its affiliates have received more J.D. Power consumer finance awards than any other captive finance company, bank or credit union. Those awards are given based on satisfaction levels with automotive finance sources.

Ford Credit is a wholly owned subsidiary of Ford Motor Company. Now in its 45th year, Ford Credit provides vehicle financing in 36 countries to more than 11 million customers and more than 12,500 automotive dealers. More information can be found at www.fordcredit.com and at Ford Credit's investor center, www.fordcredit.com/investorcenter/ .