The AP reports, "Ford Motor says it is offering a payment protection plan to help reassure consumers who may be putting off a car purchase because of worries about losing their job."  The automaker "said Tuesday it will cover payments of up to $700 each month for up to a year on any new Ford, Lincoln or Mercury vehicle if consumers lose their jobs. The program runs until June 1."

The automaker has issued a press release on the program, but it is short on details.   The release reads: "The plan gives customers another reason to "Drive One" with payment protection of up to 12 months on any new Ford, Lincoln or Mercury vehicle, 0 percent financing on select vehicles and added local charity support."

Hyundai has largely insulated from an auto sales downturn in recent months because of a similar service through its Assurance Plus program, which will make up to three payments, and allows buyers to return their new car with no damage to their credit if they lose their income. 

Kicking Tires notes, "Unlike Hyundai's Assurance Plus plan, the Ford plan will not include buying back the vehicle with no loss in equity."

If you're in the market for a new car, check out the US News rankings of this year's best cars as well as this month's best car deals.