Ford to take on insurance companies

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Ford Credit, the finance arm of the US motor giant, is claiming a UK first by launching Ford-branded car insurance for its customers.

The scheme, which will launch this autumn in the UK’s 6bn motor insurance market, will be available through the Ford Dealer network to new and existing customers.

Ford customers will be able to buy a car and drive away from the showroom with insurance and car tax within an hour.

One motor industry source suggests that the move could be a precursor to Ford launching a home insurance scheme. He says because the car manufacturer has such an extensive database, the cost of launching such a scheme would be limited.

Ford Credit Europe claims to be the largest automotive banking and finance company in Europe. Its UK subsidiary, Ford Contract Motoring, has 30,000 leases.

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