Hyundai, Toyota, Honda, General Motors and Ford have all announced financing plans to assist those affected by the coronavirus [aka COVID-19] virus outbreak.
Hyundai Motor America announced they were reinstating their Hyundai Assurance plan – which states that “When you buy or lease a new Hyundai between now and April 30, we’ll cut your payments for up to six months in the event you lose your job this year as a result of COVID-19.”
The Hyundai Assurance plan was originally conceived in January 2009 as a response to the financial crisis of that time period.
Hyundai turned away from their usual spring sales event advertisements to focus on their new Hyundai Assurance plan, joining General Motors, Honda, Ford and Toyota.
Toyota is not offering a finance plan change like Hyundai but is “…adjusting current sales event-focused advertising to reflect a more timely market message.”
For their Cadillac owners and purchasers, General Motors is offering “…flexible payment arrangements. It is also extending OnStar Crisis Assist Services and in-vehicle WiFi data to all Cadillac owners for a limited time. For those in need of a new Cadillac, it is offering the ability to shop online and have your new vehicle shipped directly to your home.”
For their Chevrolet, Buick and GMC customers: “…we are offering current owners complimentary crisis assist services. Should you need a vehicle, we’re offering 9% financing for up to 84 months with deferred payment options for up to 120 days. Plus you may have the option to shop online and take delivery at home.”
Ford has offered financial relief for current, eligible Ford Credit customers if they have been affected by the pandemic.
American Honda has not yet announced specific plan but says they are working on a financial relief plan with options for their car owners and purchasers.
