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FORD CREDIT OFFERS ASSISTANCE TO CUSTOMERS IMPACTED BY COVID-19

Date: 23 Apr 2020 Author Type: Press Release
Author: Ford South Africa
Source: Ford South Africa
  • Ford Credit customers that find themselves in financial distress due to the coronavirus lockdown can request a payment deferral
  • Offer open to personal and business Ford Credit clients affected by COVID-19
  • Ford Credit COVID-19 Support page added to Ford website with detailed information
PRETORIA, South Africa, 22 April 2020 –Ford Motor Company of Southern Africa (FMCSA) has confirmed its support for Ford Credit customers in response to the growing impact of the COVID-19 lockdown. Personal and business Ford Credit customers that are impacted by reduced income or cashflow now have the option of requesting a payment deferral.

“Ford is continuing to evaluate the impact of COVID-19, including its economic impact, on an ongoing basis. While it is too soon to speculate about the impact on defaults, we are looking at various possible scenarios and related actions that may become necessary should customers find themselves in financial difficulty,” says Kerry Henderson, MD of Ford Credit South Africa.

“The payment deferral option has been introduced for Ford Credit customers to alleviate some of the financial pressures during these unprecedented times,” Henderson adds. “Customers are invited to approach us directly in the event of any form of uncertainty or financial distress.”

Personal customers will be required to provide a motivational letter with the deferral application, including proof of lost income and the inability to work due to the COVID-19 restrictions, and a letter from the employer advising of the suspension of remuneration during the national lockdown.

Business customers will need to provide proof of the inability to generate revenue in line with the gazetted COVID-19 restrictions. While the payments will be deferred, it’s important to note that finance charges will continue to accrue for the period, once approved.

Ford Credit customers that have any concerns or would like to restructure their finance can call0860 667 667or e-mailFCrelief@absa.africa. Information is also available by following this link to a dedicated page on the Ford website:https://www.ford.co.za/buying/ford-credit/covid-19support/.
 
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