After troubled Toyota announced last week its unusual move of offering zero-percent financing for up to 60 months on several models, General Motors followed with no-interest incentives of its own. Now comes word that Ford has expanded its incentive programs.
Ford is offering zero-percent financing for 60 months on some models, including the Focus, Fusion, Milan, Edge, Escape and Mariner — or cash back options, the Detroit Free Press reported today.
General Motors is offering O percent financing for 60 months on several models on transactions occurring during March.
It was Toyota’s U.S. division that started the March zero-percent APR wave last week when it made a splash with its new promotions describing it as history-making. Before Toyota’s massive worldwide recall for unintended acceleration issues, the auto giant rarely initiated widespread incentives with deep discounts.
According to Edmunds.com, Toyota’s promotions quickly generated “nearly a 40 percent spike in purchase intent by visitors in Toyota vehicles,” as measured by the automotive research site. Purchase intent has a strong correlation to sales, Edmunds said.
