In line with the current coronavirus situation, car dealers are now finding ways to reach out to their customers who are probably stuck in their houses and practicing social distancing. Worse, there are those who are in need of a car right now but having difficulties because of the lockdown in place in some places.
Several deals are being employed by car brands right now, including 90-day deferral of payments, among others. Some of the best deals we've seen are GM brand's zero percent retail financing of up to 84 months with a 120-day payment deferral. Genesis and Hyundai, on the other hand, add a job loss assurance program that offers payment of up to six months for those who lose their jobs to COVID-19, courtesy of the company themselves.
The Battle Against Coronavirus:
Even better, you can do the car shopping at home, courtesy of the TrueCar Buy from Home feature. As the name suggests, the feature offers remote paperwork processing, home vehicle delivery, and verified vehicle sanitization. TrueCar's service is also available through Motor1.com's Car Buying Service.
Note: The incentives and offers listed here are based on the information collected at any given period. These are subject to change without prior notice, so we encourage you to connect with your dealers to verify. We are also updating this list as more information comes in.
Here's a list of car brands that participate:
Alfa Romeo
Offer: 0% financing for 84 months and deferred payments for 90 days on select FCA 2019/2020 models
Eligible Vehicles: 2020/2019 Giulia and Stelvio
Aston Martin
Offer: $10,000 dealer discount combined with a super lease rate equivalent to 0% APR
Eligible Vehicles: Contact dealer for more details
Bentley
Offer: 90-day payment deferral
Eligible Vehicles: Contact dealer for more details
BMW
Offer: 90-day deferral of the first payment when financing through BMW Financial Services on new vehicle retail contracts up to 72-month term and used vehicle retail contracts up to 60-month term, valid through 6/30/2020 (offer not available to customers in Maine or Pennsylvania)
Eligible Vehicles: Contact dealer for more information
Customer Eligibility: Requires Elite or Super Elite Credit Tier status
Buick
Offer: 0.0% special retail financing for up to 84 months with a 120-day payment deferral
Eligible Vehicles: All 2019 models and the 2020 Encore and Envision
Cadillac
Offer: 120-day payment deferral on vehicles financed through GM Financial
Eligible Vehicles: Contact dealer for more information
Chevrolet
Offer: 0.0% special retail financing for up 84 months with a 120-day payment deferral
Eligible Vehicles: All 2019 models and 2020 Equinox, Silverado 1500, and Trax
Additional Considerations: Vehicle delivery now available when purchased online from a local participating dealer
Chrysler
Offer: 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
Offer: 0% financing for 84 months and deferred payments for 90 days on select FCA 2019/2020 models
Eligible Vehicles: All Dodge vehicles, excluding 2019 and 2020 Challenger SRT Hellcat and SRT Redeye, 2019 and 2020 Charger SRT Hellcat, and 2020 Durango SRT
Fiat
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
Offer: Assurance Job Loss Protection Program and Hyundai Motor Finance
- 90-day payment deferral on new purchases financed through Hyundai Motor Finance through April 30
- Up to 90 days deferred payment option for qualified customers through April 30, 2020, when financed through Hyundai Motor Finance (HMF). Contract and documentation package must be received and funded by May 14, 2020
Eligible Vehicles and Terms:
- Up to 72-month term: MY19 Elantra, MY20 Elantra, MY19 Tucson
- Up to 60-month term: MY19 Elantra GT, Sonata, Sonata HEV, Sonata PHEV, MY20 Elantra GT, Kona, Tucson, Santa Fe
- Up to 48-month term: MY20 Accent
- Up to 36-month term: MY20 Venue
Additional Considerations: Hyundai Assurance Job Loss Protection Program offers up to six months that Hyundai will make your payments for new owners who lose their jobs due to COVID-19 and have purchased or leased their vehicle between March 14 and April 30, 2020 through Hyundai Motor Finance
Infiniti
Offer: Zero percent financing and 90-day deferred payments
Eligible Vehicles: All 2020 Infiniti models
Jaguar
Offer:
- 0% APR for 72 months across the lineup, including 2021 Jaguar F-Type.
- 90-day first payment deferral through Jaguar Land Rover Financial Group
Eligibility: Contact dealer for more details
Jeep
Offer: 0% financing for 84 months and deferred payments for 90 days on select FCA 2019/2020 models
Eligible Vehicles: 2020 Cherokee, 2020 Compass, 2020 Grand Cherokee and 2019/2020 Renegade
Kia
Offer: Up to 120 days deferred payment option for qualified customers, effective March 18– 31, 2020
Eligible Vehicles/Terms:
- 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
Offer: 90-day payment deferral
Eligible Vehicles: Contact dealer for more details
Land Rover
Offer:
- 0% APR for 72 months across the lineup
- 90-day first payment deferral through Jaguar Land Rover Financial Group
Eligibility: Contact dealer for more details
Lexus
Offer: 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
Offer: 120-day deferred payment APR Financing, effective March 18, 2020
Eligible 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 models: 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
Offer: 0% financing for 84 months for 2019 models until April 30, 2020.
Eligible Vehicles: Contact dealer for more details
Mercedes-Benz
Offer: 90-day deferred first payment program when financing a new vehicle up to 63-month term (including 90-day deferral period) through Mercedes-Benz Financial Services. Valid 3/20/20 through 3/31/2020, offer not available in Pennsylvania
Vehicle Eligibility: All new vehicles, excluding ex-Courtesy Vehicles (CVP)
Customer Eligibility: Credit Tiers A1-T2 only
Nissan
Offer: Special 90-day delayed payment option to qualified customers purchasing any new Nissan financed with Special APR or Dealer Choice APR, now through June 30
Eligible Vehicles: All models
Porsche
Offer: 90-day payment deferral
Eligible Vehicles: Contact dealer for more details
Ram
Offer: 90-day deferred payment on Chrysler Capital retail financing contracts
Eligible Vehicles: 2020/2019 Ram Pickup 1500, Ram Pickup 2500 and ProMaster City
Toyota
Offer: 90-day deferred first payment on new Toyota vehicles when financed through Southeast Toyota Finance (valid only in Southeast region)
Customer Eligibility: Requires minimum 660 FICO score
Additional Considerations: 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
Offer: Deferred first 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.
Customer Eligibility: Requires minimum 660 FICO score
Source: TrueCar