As the country battles the spread of COVID-19 and the resulting financial crisis now facing many families, automakers are tackling two separate issues. One, helping customers who may be severely impacted by COVID-19 and find themselves unable to make payments. To that end, automakers are offering to discuss payment options and help for current owners.
At the same time, automakers know they need to do something to bolster sales during this uncertain financial time. So you’ll find many automakers offering incentives on new vehicle purchases, in the way of deferred payments on some new models purchased during a certain time frame.
Here is a snapshot of the current list of automaker assistance information and deferred payment offers which we’ll update regularly. Also be aware that call times may be longer than usual due to reduced staff. Also, other lenders like Ally Financial are offering financial assistance for auto loan customers. Read More Here.
According to an email received by a Car Pro staffer and Audi finance customer, Audi says it is “here to help owners and lessees with payment assistance if needed.” VISIT AUDI FINANCE.
Chrysler Capital says its teams are standing by to review accounts of customers who need assistance. Phone number to call: 855-563-5635. VISIT CHRYSLER CAPITOL WEBSITE.
Ford Motor Company
Ford Credit customers (Ford and Lincoln) are being offered flexible payment arrangements, and potential payment extensions on a case-by-case basis. Special hotline to call: 1-800-723-4016. VISIT FORD CREDIT.
The automaker will reportedly offer Interest-free financing for 84 months with deferred payments for up to 120 days on new vehicle purchases.
Genesis will pay up to six months of payments for new owners who lose their jobs and have purchased or leased their vehicle between March 14 to April 30, 2020, through Genesis Finance. VISIT GENESIS.
Deferred payments up to 90 days on new 2019 G70 models.
UPDATED 3/23: "Our thoughts are with you, our customers and communities across the nation during this challenging time. We understand that some of you may have a financial impact from COVID-19. We are here to help. If you require assistance with your Honda Financial Services account due to the impact of COVID-19, please click here to contact your local HFS office. For more on American Honda’s response to COVID-19 CLICK HERE
Hyundai owners and lessees if offering up to six months of payments for new owners who lose their jobs and have purchased or leased their vehicle between March 14 to April 30, 2020, through Hyundai Capital. VISIT HYUNDAI CAPITAL.
Deferred payments up to 90 days on selected vehicles (Santa Fe, Tucson, Elantra, Elantra GT, Kona, Venue and Accent.)
Current KMF customers (financed or leased before March 14, 2020) who are providing care for themselves or a member of their household resulting from the current global health crisis and are temporarily not able to work, can request 30-day payment extensions up to three times.
Offer 120-day payment deferral on 0% APR Kia Motors Finance (KMF) contracts.
April 1: Mazda says it will offer a payment deferral program for up to 90 days on new and Certified Used Mazda Vehicles to eligible customers who finance a new or Certified Used Mazda vehicle on or after April 1, 2020, through April 30, 2020. No details on help for existing loan customers.
Nissan ‘s finance arm, NMAC, has a hotline set up for customers who need help to discuss their options: 1-800-456-6622 (Monday-Friday 7am-7pm CST and Saturday 9am-2pm CST.) VISIT NMAC.
Payment extensions of up to 90 days for loans and leases. Lease extensions for up to six months for Subaru Motors Finance customers who are near the end of their term. Loan: 1-800-662-3325, Lease: 1-800-644-1941. VISIT SUBARU FINANCIAL.
Toyota Financial Services and Lexus Financial Services are providing payment relief options to customers who are affected by COVID-19. Affected lease and finance customers may be eligible to take advantage of finance contract payment extensions or lease deferred payments. TFS and LFS are also providing options to assist customers at or near the end of their lease who are impacted by the pandemic. VISIT TOYOTA FINANCIAL.. VISIT LEXUS FINANCIAL.
5/14/20: Volkswagen’s Community-Driven Promise payment assistance programs for customers impacted by the COVID-19 pandemic extended through June 1
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