With 6-year loans, Detroit takes a risk for sales

Newswire

By Justin Hyde DETROIT, Oct 31 (Reuters) - As cash rebates and interest-free loans for new vehicles show signs of losing their allure to nervous American consumers, automakers are starting to rely on another tool: six-year loans. In the latest escalation of Detroit's price battles, Ford Motor Co. earlier this month quietly began offering 72-month loans with interest rates as low as 1.9 percent on most of its 2003 Ford-brand lineup. Automakers usually discount loans only up to five years, ...

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