Pricing Supplement No. 42 Dated January 11, 1996
(To Prospectus and Prospectus Supplement
Dated October 10, 1995)
Rule 424(b)(3)
Registration Statement
No. 33-55945
U.S.$35,000,000
FORD MOTOR CREDIT COMPANY
Medium-Term Notes Due from 9 Months
to 30 Years from Date of Issue
Ford Motor Credit Company ("Ford Credit") has designated
$35,000,000 aggregate principal amount of its Medium-Term Notes Due from 9
Months to 30 Years from Date of Issue having specific terms set forth below.
Merrill Lynch, Pierce, Fenner & Smith Incorporated has agreed to purchase the
Notes at a price of 99.875% of their principal amount for resale at an
initial public offering price of 100% of their principal amount. After the
initial public offering, the offering price may be changed.
Issue Date: January 17, 1996
Principal Amount: $35,000,000
Interest Rate Basis: 5.705% from and including January 17, 1996 to, but
excluding, the first Interest Reset Date and
thereafter LIBOR having an Index Maturity of three
months plus 8 basis points
Interest Reset Dates: Quarterly on March 1, June 1, September 1 and
December 1 commencing March 1, 1996
Interest Payment Dates: The 1st day of the months of March, June,
September and December commencing March 1, 1996
Stated Maturity: December 1, 1997
Reference Agent: Chemical Bank
MERRILL LYNCH & CO.
