Ford Lowers Rate Incentive: Ford Motor Co....

Ford Lowers Rate Incentive: Ford Motor Co. announced a new incentive program with interest rates as low as 2.9%, 2 percentage points lower than the program it replaces. The last time auto makers’ financing companies offered interest rates as low as 2.9% was in mid-1987. Robert Rewey, Ford’s vice president for North American sales, said the nation’s No. 2 auto maker made the move because car and truck sales during the first 80 days of the year fell below projections. Ford’s new incentive program, which expires May 31, offers consumers the option of cash rebates, ranging from $300 to $4,000 or financing as low as 2.9% for a two-year loan, depending on model.