Ford Consumer Finance Co. is test-marketing a home equity loan product that would give consumers as much as $2,500 to be used toward the purchase or lease of a Ford vehicle.

The program, called Ford Reward, is in place in 40 states but is only being offered through direct mail to selected homeowners.

Consumers receive an annual rebate of as much as $2,500. Borrowers can also earn an extra $500 credit if they take out an initial loan of $10,000 or more. The rebates are cumulative up to five years.

Consumers who choose to finance the purchase of a new automobile through Ford Motor Credit Co. get an extra 10% increase in the rebate amount.

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