Ford will offer 2009 F-150 buyers a choice of $2,000 in trade-in assistance or 6.9% financing to help bridge the gap between the resale value of their current truck and the cost of a new half-ton, according to The Wall Street Journal.
Resale values for pickups have fallen dramatically over the past 18 months due to a rise in fuel prices and a slowdown in housing construction, which reduced demand for new trucks. This double whammy has left many pickup owners who financed their truck purchase "upside-down" on their loan as to original cost versus current trade-in or resale value.
F-150 sales have stumbled in this tough market. Year-to-date sales volume has fallen almost 27 percent, to 392,698 units through September, compared to last year's figures.
Ford says the new 2009 F-150 has best-in-class towing ratings in the industry for all cab configurations, at 11,300 pounds.
The new F-150 starts at $21,320. Its most popular XLT SuperCab model starts at $29,160, according to the WSJ.