In the worst case scanario if Ford was forced to sell out. Should I speak to an attorney to protect myself. If they sale out would, would I be affected at all; if so what changes will I see?
2006-10-23 04:21:41 · 6 answers · asked by glenn s 2 in Cars & Transportation ➔ Buying & Selling
If you have signed a contract for that vehicle, the terms and conditions will not change.
Don't worry. Ford will not sell out.
If they do, they will sell your loan to recover costs, but the finance company that buys your loan will continue to charge the same interest and your payment, principle, APR, etc should not be affected.
2006-10-23 04:24:52 · answer #1 · answered by trigam41 4 · 0⤊ 0⤋
Ford financing is a seperate entity from Ford Motor company.
If Ford financial would go bankrupt,
another finance company would take it over and the only thing that would change for you is who you make your payment to.
There is no need to get an attorney involved.
2006-10-23 11:29:26 · answer #2 · answered by msdagney 4 · 0⤊ 0⤋
You won't get out of your payments if that is your brain storm! They'll be following trough with that portion of the business you can bet on that even if they have to sell it to an outside firm. I sincerely doubt Ford will go out completely. They are just experiencing some down falls from VERY poor management and with time and lots of investors pumping money in they will be back on their feet before long! Now that gas has gone down their high profit trucks and SUV's will start selling again. Just the normal panic they have seen many times before created by media!
2006-10-23 04:38:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Ford is going nowhere, and if they did that loan would be picked up by the group buying them. Don't waste your money on an attorney as they will take it and say HA gotcha...
Ford is like GM they are having issues but they are not planning on going anywhere.
2006-10-23 05:19:03 · answer #4 · answered by Uncle Red 6 · 0⤊ 0⤋
Parts aren't made by ford anyway, shouldn't be a problem unless you keep the car for a long time.
2006-10-23 04:30:02 · answer #5 · answered by Anonymous · 0⤊ 0⤋
See above. Your loan will be sold and you will still be required to fulfill it. Nothing will be changed.
2006-10-23 04:29:57 · answer #6 · answered by Karrien Sim Peters 5 · 0⤊ 0⤋