Ford Credit looks at subscription and flexible financing as it gears up for new Ford EV product

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AS Ford prepares to discard its past (bye-bye Fiesta, Mondeo) and embrace a new electric future (hello three new EVs and four electric vans), the OEM’s financing arm is preparing to create financial products sutiable fort ehse new products.

Ford Credit says it is piloting a range of products to support the transition to electric vehicles. This includes a subscription service as well as financing options for EV accessories, such as home charging units.

In addition, Ford Credit says it 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, including lower whole life costs.

Customer needs are changing as are the types of vehicles they are choosing. 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.

Carlos Treadway, CEO of Ford Credit Europe

Car subscriptions are starting to become an interesting channel for leasing brokers to explore as customers look to a more flexible approach to using vehicles, while bundling together all the services in a single monthly payment.