It is reported that Ford and General Motors are following Hyundai's innovative customer confidence program of covering car payments for anyone who loses their job after purchasing a new Ford or GM car.

Ford, calling its Ford Advantage Plan best in industry will cover payments for up to 12 months on any new Ford, Lincoln or Mercury vehicle if customers lose their jobs. The program also offers a 0% loan on select Ford, Lincoln or Mercury vehicles. Ford will also be working with dealers supporting local charity programs.

The GM plan will give purchasers payment protection for first 24 months of ownership. If a new owner loses his or her income, General Motors will make up to nine payments for up to USD 500 per month. General Motors also covers the value of a GM car by guaranteeing that the customer won’t be upside down on the vehicle loan.

The General’s 'Total Confidence' plan also includes an impressive 5 year/100,000 mile powertrain transferable warranty with a one year subscription to OnStar as a sweetener.

Mr Mark LaNeve VP at GM North America vehicle sales, service and marketing said that "By protecting a customer's payment, investment, vehicle and family, we are reinventing the customer experience. The 'GM Total Confidence' plan addresses today's most pressing concerns for new car buyers. We asked customers what they wanted, and simply put, this package is it."

Mr Ken Czubay VP of sales and marketing at Ford "Consumers remain anxious about the eco. Lose your job, keep your car and keep its valuenomy and their own outlook for the future. We at Ford want to do our part to rebuild faith in the marketplace by offering payment protection on every new Ford, Lincoln or Mercury vehicle for up to a year if our customers lose their jobs."

(Sourced from www.examiner.com)