Ford offering safety net for customers

FISHERS, Ind. - Ford has unveiled a new payment protection program for consumers who buy a new Ford, Lincoln or Mercury. If a consumer loses his or her job, the automaker will cover the payments for up to a year.

Ford is in a better economic position than its U.S. competitors. But like all automakers, sales are down. So company leaders are hoping the new program drives a boost in its slumping sales.

Ford's F-Series pickup was the nation's best selling vehicle until gas prices peaked last year. For some, buying a big truck is a must.

Don Leer has 22 horses and routinely pulls a big trailer. He's shopping for a big truck.

"I like Ford," Leer said. "I like the big, square hood where you can see where you're at. I just like 'em."

But Leer is worried about spending the money, and he's not alone. Ford's February sales plunged 48 percent.

"It's been a very start-and-stop climate," said Bud Colglazier, owner and president of Don Hinds Ford in Fishers. "We really don't know what to expect. So it has been tough for us."

Ford hopes its new payment protection plan helps address consumer concerns about economic uncertainty. The automaker hopes the program drives new car sales. The owner of Don Hinds Ford estimates new car sales this year have been down about 15 percent. But used car sales have been up 40 percent.

As for Don Leer, he did decide to buy a truck. But he chose a used truck. His decision is indicative of the challenge facing car dealers: convincing the cost-conscious consumer to buy a new vehicle. That's not always an easy sell.