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Ford Credit, the financial services arm of Ford Motor Company, has reached the 2 million customer milestone for its flexible Options product in the UK.
At present, the business’ primary focus, it has said, is on supporting customers through the current cost-of-living crisis, helping them keep their vehicles and stay on the road as they navigate potential changes to their financial situation.
Looking to the future, Ford Credit said that it is focused on creating finance solutions that meet the needs of consumers looking to transition to an electric vehicle.
The business is developing its Options product to offer more flexibility, including different terms so that consumers can enjoy the long-term benefits of EVs more easily.
Ford Credit’s flexible finance options can help with the initial upfront cost of an EV, as well as providing additional protection against the risk of vehicle depreciation.
Ford Credit is also piloting a range of products to support with the transition to electric vehicles more broadly, including financing options for EV accessories, such as home charging units, and subscription services.
Carlos Treadway, CEO of Ford Credit Europe, said: “Customers’ needs are changing – the way they want to purchase their vehicles and engage with Ford Credit is changing as are the types of vehicles they are choosing. But we know customers; we’ve been doing this for a number of years supporting over two million customers with our Options product. We’re continually looking ahead and already learning from our first electric Mach-E customers to understand their needs. Alongside Ford, we are helping customers transition to electric with advice on total-cost-of-ownership and charging solutions, and not just that but we’ll support them through the ownership cycle.
“As vehicles become more connected we’re also exploring how to best support other non-vehicle services customers desire that can be enabled through the car. As I said there are other companies that provide auto financing but there’s not companies that know Ford customers like we do.”