Ford Motor is ramping up efforts to drive sales of its flagship F-150 pickup truck before the close of the third quarter, launching a financing program aimed at consumers with less-than-perfect credit. The initiative allows subprime borrowers — those with FICO scores below 620 — to access lower interest rates typically reserved for customers with stronger credit profiles.
Ford Credit, the automaker’s financial services arm, confirmed the promotion, describing it as a way to improve affordability and help manage inventory levels. While such programs are not new, they do carry added risk, as lower-credit borrowers are statistically more likely to default during times of economic stress.
Pickup trucks, particularly the F-150, are among the most important vehicles for Detroit automakers, contributing significantly to profits while also serving as a key indicator of demand from small businesses and contractors.
A Ford Credit spokeswoman emphasized that while promotional rates are being extended, creditworthiness remains central to lending decisions. Ford uses a proprietary scoring system that incorporates more than just FICO scores when determining a borrower’s ability to repay. “We only finance customers we believe are creditworthy and have the capacity to pay,” the company said, adding that similar programs have been rolled out nationally in the past.
Industry data shows that financing remains a challenge for many buyers. In July, the average new auto loan rate hovered around 9%, with subprime borrowers often facing rates as high as 18% to 20%, according to Cox Automotive. Ford Credit has maintained a relatively conservative approach, with only 3% to 4% of its financing since 2024 going to higher-risk consumers. The average FICO score among its customers was 748 during the first half of the year, a slight drop from 757 in 2023.
Sales of Ford’s F-Series lineup, which includes the F-150, are up 12.7% year-to-date but slipped 3.4% in August compared with last year. Pricing for the 2025 F-150 starts at around $39,000 and can exceed $100,000 depending on trim and features. Rising vehicle prices and elevated borrowing costs have made affordability a central concern for automakers and buyers alike, with the average new vehicle price nearing $50,000.
Ford’s financing push comes shortly after the Federal Reserve approved a quarter-point rate cut, signaling potential additional reductions in 2025. Rival automakers are also offering deals: Stellantis’ Ram brand is advertising 0% financing on select models, while General Motors’ Chevrolet and GMC brands are extending low-interest offers, including 0% financing for well-qualified buyers through the end of the month.
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