Ford’s failure looming
Ford angers me. They are in a bad spot, but much better off than rival GM. They insist, however, in doing stupid things. Their latest stupid idea is the 0% financing for 72 months. To offer this at all is a poor decision – interest rates are sky high. Not content with a merely stupid idea, Ford has decided to reinvent the word stupid. Now, any potential car buyer with a pulse can qualify for a 0% 72 month loan.
Ford, there a reason why people with bad credit pay 18% or higher. They are high risk! They have a documented history of not paying their bills. To subsidize loans for these people to the tune of 0% is absolute madness. Astute readers will remember that this has been done before, by Mitsubishi. Say, how is Mitsubishi these days? Link.
