Exhibit 12-A

                          FORD MOTOR CREDIT COMPANY AND SUBSIDIARIES

                               CALCULATION OF RATIO OF EARNINGS
                                        TO FIXED CHARGES
                                (dollar amounts in millions)



                                 Nine Months                     For the Years Ended December 31
                             --------------------  -----------------------------------------------------
                                1995       1994       1994       1993       1992       1991       1990
                             ---------  ---------  ---------  ---------  ---------  ---------  ---------
                                                                          
Fixed Charges
 Interest expense            $ 3,655.5  $ 2,522.0  $ 3,557.8  $ 2,943.5  $ 3,108.3  $ 3,840.6  $ 4,307.4
 Rents                            11.3        9.9       14.1       11.0       10.8        8.9        7.5
                             ---------  ---------  ---------  ---------  ---------  ---------  ---------
  Total fixed
   charges                     3,666.8    2,531.9    3,571.9    2,954.5    3,119.1    3,849.5    4,314.9

Earnings
 Income before income
  taxes and cumulative 
  effects of changes in  
  accounting principles        1,448.5    1,510.2    1,999.1    1,875.0    1,323.2    1,075.1      763.2

 Less equity in net income
  of affiliated companies        174.7      166.2      232.5      198.3      155.2      191.0      145.0


 Less minority interest
  in net income of
  subsidiaries                    10.5        8.1       10.7        7.9        6.1        2.3          0
                             ---------  ---------  ---------  ---------  ---------  ---------  ---------
 Earnings before fixed
  charges                    $ 4,930.1  $ 3,867.8  $ 5,327.8  $ 4,623.3  $ 4,281.0  $ 4,731.3  $ 4,933.1
                             =========  =========  =========  =========  =========  =========  =========
 Ratio of earnings to
  fixed charges                   1.34       1.53       1.49       1.56       1.37       1.23       1.14
                             =========  =========  =========  =========  =========  =========  =========

<FN>
For purposes of the Ford Credit ratio, earnings consist of income before taxes and cumulative effects of
changes in accounting principles and fixed charges.  Income before income taxes and cumulative effects of
changes in accounting principles of Ford Credit includes the equity in net income of all unconsolidated
affiliates and minority interest in net income of subsidiaries.  Fixed charges consist of interest on
borrowed funds, amortization of debt discount, premium, and issuance expense, and one-third of all rental
expense (the proportion deemed representative of the interest factor).