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div class=”postBody description e-content”> Given the present COVID-19 circumstances, automobile vendors are now exploring methods to connect with their clients who may be confined to their residences, observing social distancing guidelines. Furthermore, there are individuals who currently require a car but are facing challenges due to enforcement of lockdowns in some regions.
Various promotions are being utilized by car manufacturers at present, such as deferring payments for up to 90 days. Some of the most attractive offers we’ve come across include GM’s brand offering zero percent financing for retail up to 84 months with a 120-day payment deferral. In contrast, Genesis and Hyundai have introduced a program to assist those who have lost their jobs due to COVID-19, promising up to six months’ payment coverage, courtesy of the companies themselves.
The Fight Against Coronavirus:
Moreover, you can engage in car shopping from the comfort of your home, thanks to the TrueCar Buy from Home feature. As implied by its name, this feature provides remote paperwork processing, home delivery of the vehicle, and verified vehicle sanitization. TrueCar’s service is also accessible through Motor1.com’s Car Buying Service.
Disclaimer: The incentives and promotions mentioned here are based on the current information available. These are subject to alterations without prior notification; hence, we advise you to reach out to your dealers for verification. We are also continuously updating this information as more details emerge.
Below is a rundown of car manufacturers participating in these offers:
Alfa Romeo
Deal: 0% financing for 84 months and delayed payments for 90 days on specific FCA 2019/2020 models
Eligible Vehicles: 2020/2019 Giulia and Stelvio
Aston Martin
Deal: $10,000 dealer discount combined with an attractive lease rate equivalent to 0% APR
Eligible Vehicles: Contact dealer for additional details
Bentley
Deal: 90-day payment deferral
Eligible Vehicles: Contact dealer for additional details
BMW
Deal: 90-day deferral of the initial payment when financing through BMW Financial Services on new vehicle retail contracts with up to 72-month terms and used vehicle retail contracts with up to 60-month terms, valid until 6/30/2020 (not applicable to customers in Maine or Pennsylvania)
Eligible Vehicles: Contact dealer for more details
Customer Eligibility: Requires Elite or Super Elite Credit Tier status
Buick
Exclusive Deal: 0.0% special retail financing for a duration of up to 84 months with a 120-day payment deferral
Eligible Automobiles: All 2019 models and the 2020 Encore and Envision
Cadillac
Exclusive Deal: 120-day payment deferral on vehicles financed through GM Financial
Eligible Automobiles: Contact dealer for further details
Chevrolet
Exclusive Deal: 0.0% special retail financing for up 84 months with a 120-day payment deferral
Eligible Automobiles: All 2019 models and 2020 Equinox, Silverado 1500, and Trax
Additional points to consider: Option for vehicle delivery when purchased online from a local participating dealer
Chrysler
Exclusive Deal: 0% financing for 84 months and deferred payments for 90 days on select FCA 2019/2020 models
Eligible Vehicles: 2020/2019 300 and 2020 Pacifica, excluding Hybrid
Dodge
Exclusive Deal: 0% financing for 84 months and deferred payments for 90 days on select FCA 2019/2020 vehicles
Eligible Automobiles: All Dodge cars, except for 2019 and 2020 Challenger SRT Hellcat and SRT Redeye, 2019 and 2020 Charger SRT
Demon, and 2020 Rebel
Ram
Offer: 0% financing for 84 months and deferred payments for 90 days on select FCA 2019/2020 models
Eligible Vehicles: 2019 500e
Ford
Offer: Ford Credit is encouraging current US customers impacted by COVID-19 to contact the company to discuss the potential delay of payments to provide relief. For customers purchasing a new vehicle, Ford Credit is offering the option to delay their first payment for 120 days. Financing at 0% is available for 84 months on a new vehicle through Ford Motor Credit
Eligible Vehicles: Contact dealership for more information
Additional Considerations: Ford has set up a special hotline for customers to discuss options: 1-800-723-4016
Genesis
Offer: Up to 90 days deferred payment for qualified customers, effective March 14–April 30, 2020
Eligible Vehicles: MY19 G70 only
Additional Considerations: The Genesis Cares Job Loss Protection Program offers six months that Genesis will make your payment for anyone who purchases a new Genesis vehicle between today and April 30, 2020. Financing or leasing through Genesis Finance and impacted by an “involuntary job loss” due to COVID-19 any time this year are requirements.
GMC
Offer: 0.0% special retail financing for up to 84 months with 120-day payment deferral
Eligible Vehicles: All 2019 models and the 2020 Acadia, Sierra 1500 and Terrain
Hyundai
Deal: Coverage for Job Loss and Financial Assistance
- Delaying payments for 90 days on new purchases financed through Hyundai Motor Finance until April 30
- Option to delay payments for up to 90 days for qualified customers until April 30, 2020, when financed through Hyundai Motor Finance (HMF). Paperwork and funding must be completed by May 14, 2020
Eligible Vehicles and Terms:
- Terms up to 72 months for MY19 Elantra, MY20 Elantra, MY19 Tucson
- Terms up to 60 months for MY19 Elantra GT, Sonata, Sonata HEV, Sonata PHEV, MY20 Elantra GT, Kona, Tucson, Santa Fe
- Terms up to 48 months for MY20 Accent
- Terms up to 36 months for MY20 Venue
Additional Considerations: Hyundai Assurance Job Loss Protection Program provides up to six months of payment relief for new owners who lose their jobs due to COVID-19 and have purchased or leased a vehicle between March 14 and April 30, 2020, through Hyundai Motor Finance
Infiniti
Deal: Zero percent financing and 90-day payment deferment
Eligible Vehicles: All 2020 Infiniti models
Jaguar
Deal: Up to 120 days delayed payment option for qualified clients, effective March 18– 31, 2020
Qualifying Vehicles/Conditions:
- Up to 60-month term: MY20 Forte, Soul, MY19 Niro PHEV
- Up to 66-month term: MY20 Optima (incl. Hybrid, PHEV), Sorento, Sportage, Sedona, Stinger, MY19 Niro (excl. PHEV), Niro EV
- Up to 72-month term: MY19 Stinger, Cadenza, and K900
Lamborghini
Deal: 90-day payment deferral
Qualifying Vehicles: Contact dealer for further information
Land Rover
Deal:
- 0% APR for 72 months across the lineup
- 90-day first payment deferral through Jaguar Land Rover Financial Group
Eligibility: Contact dealer for further details
Lexus
Deal: 90-Day Deferred Retail Payment Customer Support program for the purchase of a Lexus Certified vehicle and 90-day Deferred Retail Payment Customer Support program for the purchase of a new Lexus vehicle. This program is effective March 18–May 4, 2020.
March 2020 Lease Loyalty Incentive Program offers a Lexus Lease Loyalty Incentive of $1,000 on any new MY 2020 model to any current owner or lessee of any Lexus model to lease a new eligible Lexus model, pending eligibility. It is effective March 18–31, 2020.
Lincoln
Deal: 120-day delayed payment APR Financing, effective March 18, 2020
Qualifying Vehicles:
- 2020 models: MKZ Hybrid Reserve, MKZ Reserve, Continental, Continental Black Label, Navigator, Navigator Black Label, Nautilus, Nautilus Black Label, Aviator Black Label Gas, Aviator Gas, Corsair
- 2019 editions: Continental, Continental Black Label, MKZ Hybrid Reserve, MKZ Hybrid Standard, MKZ Reserve, MKZ Standard, Navigator, MKC, MKC Black Label, Nautilus, Nautilus Black Label, Navigator Black Label
Maserati
Deal: 0% financing for 84 months for 2019 versions until April 30, 2020.
Qualified Automobiles: Reach out to dealer for additional information
Mercedes-Benz
Offer: 90-day deferred initial payment program when financing a brand new vehicle up to a 63-month term (including the 90-day deferral period) through Mercedes-Benz Financial Services. Valid 3/20/20 through 3/31/2020, the promotion is not available in Pennsylvania
Eligible Autos: All brand-new cars, except ex-Courtesy Vehicles (CVP)
Customer Qualification: Credit Tiers A1-T2 only
Nissan
Offer: Special 90-day payment delay alternative for qualified clients buying any brand-new Nissan financed with Special APR or Dealer Choice APR, now until June 30
Qualifying Vehicles: All models
Porsche
Deal: 90-day payment postponement
Qualified Automobiles: Reach out to dealer for additional information
Ram
Dea: 90-day delayed payment on Chrysler Capital retail financing contracts
Eligible Cars: 2020/2019 Ram Pickup 1500, Ram Pickup 2500 and ProMaster City
Toyota
Dea: 90-day delayed initial payment on recent Toyota vehicles when financed through Southeast Toyota Finance (valid only in Southeast region)
Client Availability: Requires minimum 660 FICO score
Additional Thoughts: Toyota/Lexus Financial Services officials state that they are “providing payment relief options to customers who are affected. This includes extensions and lease deferred payments”
Volkswagen
Dea: Delayed initial payment to 180 days when financing a new vehicle through Volkswagen Credit (VCI), valid through April 30, 2020. Volkswagen also offers 90-day payment assistance for customers impacted by COVID-19 pandemic.
Client Availability: Requires minimum 660 FICO score
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