PROSPECTUS and Pricing Supplement No. 107
PROSPECTUS SUPPLEMENT, each Effective at 04:02 P.M.
Dated October 24, 1996 July 31, 1997
Rule 424(b)(3)
Registration
Statement No. 33-64237
U.S.$5,000,000,000
FORD MOTOR CREDIT COMPANY
MEDIUM-TERM NOTES
Due from 9 Months to 30 Years from Date of Issue
Interest payable each March 15 and
September 15 and at Stated Maturity
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The Notes offered hereby are Fixed Rate Notes as more fully
described in the accompanying Prospectus and Prospectus
Supplement. Interest rates offered by Ford Credit with respect
to the Notes may differ depending upon, among other things, the
aggregate principal amount of Notes purchased in any single
transaction.
Issue Date: August 12, 1997
Stated Maturity: August 13, 2001
Interest Rate: 6.03% per annum
Minimum Denomination and
Purchase Amount: $1,000 and integral
multiples thereof
Agent's Discount or Commission .75%
Agent's Capacity ____ Agent _X__ Principal*
* If acting as principal, $3,000,000.00 aggregate principal
amount of the Notes are being purchased by Merrill Lynch & Co.,
Lynch, Pierce, Fenner & Smith Incorporated at the discount set
forth above for resale to investors at varying prices related to
prevailing market prices at the time of resale.
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MERRILL LYNCH & CO.
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