Carmatic is here for you. We are on this ride together.

We hope that everyone is staying healthy and staying home! Carmatic is doing everything we can to help during this unfortunate time in history. We’ve been getting a lot of questions that we are so happy to field such as:

– What do I do about my lease ending soon?

– Can I still take my car for servicing?

– Does my car brand offer any time of financial hardship benefits?

– Can you still help me lease/buy a new car?

We have answers to all of these questions and most likely any automobile question you may have. Please just shoot us a quick email at concierge@carmatic.com to get help immediately!

In the meantime, we thought it would be a good idea to send out some information regarding which automakers/banks are offering incentives in the form of deferred payments and the likes that would be good for everybody to know.

By Lender

ALLY BANK: Existing auto customers can defer payment for up to 120 days, and new customers have the option to defer their first payment for 90 days. Please call 1-800-200-4622.

BANK OF AMERICA: Offering assistance with auto loans on a case-by-case basis. If you have a Bank of America account, you can apply for deferral online. Please call 1-800-215-6195.

CAPITAL ONE: Encourages customers who are facing financial hardship due to call 1-800- 946-0332 to discuss payment options.

CHASE: If you’ve leased a car through Chase and your term is coming to an end, Chase will automatically extend your lease for up to six months, so you don’t need to call to confirm your extension. The company is offering a variety of payment assistance programs for car owners and lessees. If you have a Chase auto loan, you can call 1-800-336-6675. If you have a lease, call 1-800-227-5151.

CHRYSLER CAPITAL: Chrysler Capital has programs to help customers affected by the coronavirus, but it doesn’t provide details on its website. The company encourages people to call 1-855-563-5635 to discuss payment assistance.

FIFTH THIRD BANK: Offering auto loan payment deferral for up to 90 days, and you will not have to pay late fees. The bank is also pausing auto repossessions for 60 days. Please call 1-800-972-3030.

SANTANDER BANK: You can apply for a payment deferral through Santander without facing a late fee. The bank is also offering lease extensions for people who can’t return their car during this time. Please call 1-888-222-4227.

USAA BANK: Mentions on its website that it’s providing assistance with consumer loans, but it doesn’t go into detail. You can call 1-855-764-4617 to speak with a representative about your situation.

WELLS FARGO: Providing payment deferrals, fee waivers, and other assistance for auto loans on a case-by-case basis. The bank has paused automobile repossessions until further notice. Please call 1-800-289-8004.

 

By Manufacturer

ALFA ROMEO

Offer: Deferred payments for 90 days on Chrysler Capital retail financing contracts
Eligible Vehicles: 2020/2019 Giulia and Stelvio

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 Carmatic 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 Carmatic 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

CHRYSLER

Offer: 90-day deferred payment on Chrysler Capital retail financing contracts
Eligible Vehicles: 2020/2019 300 and 2020 Pacifica, excluding Hybrid

DODGE

Offer: 90-day deferred payment on Chrysler Capital retail financing contracts
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: 90-day deferred payment on Chrysler Capital retail financing contracts
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 Carmatic for more information
Additional Considerations: Ford has set up a special hotline for customers to discuss options: 1-800-723-4016

GENESIS FINANCE AND GENESIS CARES JOB LOSS PROTECTION

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

::Update:: In response to concerns over servicing vehicles while maintaining social distancing, Hyundai is extending U.S. warranties that expire between March and June until June 30 in order to give customers time to get service work done at dealerships that remain open for maintenance and warranty work

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 FINANCIAL SERVICES

Offer: 90-day delayed payment option for qualified customers who purchase any new INFINITI financed with Special APR or Retailer Choice APR, now through June 30, 2020
Eligible Vehicles: Any new INFINITI

JEEP

Offer: 90-day deferred payment on Chrysler Capital retail financing contracts
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

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

MAZDA

Offer: 90-day deferred first payment on retail contracts up to 72-month term when financed through Mazda Financial Services. Valid 4/1/2020 through 4/30/2020, program not available to customers in Pennsylvania
Eligible Vehicles: Any New, Certified Pre-Owned (CPO), and untitled Mazda vehicles including demonstrators with 6,000 miles or less
Customer Eligibility: Tier 1+ through Tier 3 applicants

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 MOTOR ACCEPTANCE CORPORATION

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

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: 180 days to first payment when financing a new vehicle through Volkswagen Credit (VCI), valid through April 30, 2020
Customer Eligibility: Requires minimum 660 FICO score

*Incentives in this article are based off data available to Carmatic as of 04/08/2020. Incentives and eligibility conditions are subject to change without notice. See manufacturer’s website or contact Carmatic for additional information.

We hope that this information is helpful and that if you are in need, you can take advantage of any offers out there. If you have any other questions or need something else for your car, including leasing, buying or financing a new vehicle, please let us know!
Stay safe and Stay Home.

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About the Author
Jason Barrie is the Chief Operating Officer for Carmatic. In his free time, Jason enjoy spending time with his wife, two daughters and puppy. One day, Jason hopes to own Eleanor herself, that is of course a reference to Gone in 60 Seconds in regards to a 1967 Ford Mustang Shelby GT500 . You can reach Jason direct at Jason@carmatic.com.