Today Ford plans to kick the Hyundai Assurance Plan up to 11 with the "Advantage Plan," a payment-protection plan paying up to $700 per month for up to 12 months if customers lose their jobs.
The Ford Advantage Plan, also known as "FAP" (That reminds us, do automaker marketing teams ever read the internet?) offers payment protection of up to $700 per month for up to 12 months on any new Ford, Lincoln or Mercury vehicle if customers lose their jobs. Additionally, customers can take advantage of 0% financing on certain Ford, Lincoln and Mercury vehicles through Ford Motor Credit. But you'd better act now as the program only runs from today through June 1.
But the bigger question is — how does this new Ford plan stack up against the reigning champ — the Hyundai Assurance program? Let's take a look.
Negative Equity Coverage: Well, since Hyundai only provides $625 per month (up to $7500 in 12 months) in guaranteed negative equity coverage, and Ford provides up to $700 per month, on that metric, we'd go with Ford. But, Hyundai also provides coverage in cases of medical disability. Will Ford cover that? We don't yet know.
Financing: As far as financing, Ford's offering of 0% interest financing also ups the ante on the what-do-we-need-to-do-to-get-you-in-our-car-today scale.
Hyundai? They've got a deal on the Santa Fe!
Warranty: Although Hyundai does have that whole "America's Best Warranty" at 10 years and 100,000 miles, but Ford has that whole "Warranty Backed By America" thing. Never heard of it? What? Yeah, you know, the thing where they can ask for money from the Feds and then just jump into the "Warranty Commitment Program"
Overall: We'd go with Ford, if only because they now have an option on America's real best warranty — the Obama protection plan.
While this is certainly a way to up the ante, we want to wait and see some details before we declare a winner.