Automaker Ford (NYSE:F) is racing to sell more F-150 pickups this quarter by offering lower interest rates to buyers with the weakest acceptable credit histories, the Wall Street Journal reported on Tuesday, citing a spokesperson from the company.
According to the report, the deal available until the end of the month will allow customers with weaker credit profiles to pay lower interest rates, which are usually offered to those with stellar credit records.
This is an attempt by Ford to court these low-credit customers as it looks for a strong close to the quarter for its F-150 pickup.
The automaker highlighted its struggle with tariffs a few months ago. Ford has been largely absorbing the cost of tariffs on imported steel, aluminum, and auto parts to keep sales volume high, despite it cutting into profits.
“We wanted to provide the opportunity to those with credit ratings that may not be perfect the opportunity to have the best rates available,” a Ford spokesman said, as cited by the Journal.
The program isn’t expected to continue beyond the end of the month, the spokesman said.