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Ford Offers Zero Percent Financing for Hybrids

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Sales Slump: Ford Offers Zero Percent Financing for Hybrids

Date posted: 04-08-2006

DEARBORN, Mich. — Ford is offering no-interest loans on the gas/electric hybrid Escape and hybrid Mercury Mariner SUVs, effective immediately and running through July 5.

At the same time, Toyota has cut production of its Highlander Hybrid SUV by more than a third after 2005 sales of the vehicle fell 20 percent short of target.

Ford is turning to the no-interest loan program after having success with a pilot program that offered $1,000 rebates on the vehicles in California and Washington, D.C., last month. The program yielded double-digit increases for the hybrid models in those test markets. Buyers taking advantage of the nationwide program can choose between zero-percent financing and a $500 down-payment-matching deal.

Ford has also started a hotline for dealers to call for the latest information on federal, state and local tax incentives for hybrid buyers. Ford says those tax breaks range from $1,950 to $6,350.

Ward's AutoInfoBank reports that sales of Honda's Accord Hybrid dropped 69 percent from the previous year.

What this means to you: This is an excellent time to get a good deal on a hybrid, as automakers scramble to make them more appealing.

Link: http://www.edmunds.com/insideline/do/News/articleId=109932

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