The Top 19 Deals on Automobiles Amid the COVID-19 Pandemic
Updated: Mar 13
The COVID-19 pandemic has turned the economy upside down. What was once a thriving economy with low unemployment has now turned into a disaster. Businesses are going bankrupt, and millions of Americans remain unemployed.
One industry, in particular, hit hard was the automobile industry. With so much unemployment, people don’t have an incentive to purchase vehicles right now. That is why several renowned automobile manufacturers are introducing exclusive deals to encourage people to buy their cars.
Many lenders and banking institutions that partner with automobile manufacturers are offering generous deals on their car loans. You can find a unique deal provided by virtually every famous automobile manufacturer in the business. You have to agree to take out your car loan through their lending partner or subsidiary.
Let’s examine the top 19 deals on automobiles amid the COVID-19 pandemic.
Acura Financial Services will defer your car payments for the first three months if you purchase an Acura vehicle for the first time. And if you agree to lease or buy from a specific selection of Acura model vehicles, you will receive $500 to help you with the deal.
If you purchase a certified pre-owned BMW or brand-new BMW of any model, then BMW Financial Services will defer your payments for the first three months. However, you have from March 1st until June 30th to make the purchase, or the deal is no longer available.
If you are a car buyer with nearly perfect credit, you will love the deal that FCA has available for certain customers. The catch is that you must purchase from a select group of RAM, Jeep, Fiat, Dodge, Chrysler, and Alfa Romeo car models. If you do, then Chrysler Capital will let you take out a loan with a term of 84 months or less at 0% interest. They will also defer your car payment obligations for the first three months.
If you purchase a Ford vehicle, then Ford Credit will pay your first three months of car payments. Not only that, but it will defer your next three car payments after that too.
If you purchased a new Genesis vehicle at any time from March 14th to April 30th, then Genesis Finance will cover your payments for six months if you lost your job because of the coronavirus situation. For anyone who purchased the Genesis G70 model vehicle, they can defer three months of car payments if they took out a car loan with 0% APR to pay for it.
If you have a high credit score, then GM Financial has a great deal available if you purchase from a selection of certain GM models, such as their GMC, Cadillac, Buick, and Chevrolet models.
First, you can receive a car loan with 0% APR if the term is no more than 84 months. But if you purchase a brand-new vehicle from this GM model selection, you can defer the first four months of car payments.
If you buy or lease a vehicle from a specific selection of Honda models, then Honda Financial Services will give you $1,000 to help you close the deal. And for anyone who purchases a new Honda vehicle, you can defer your car payments for three months.
If you leased or bought a new Hyundai vehicle from March 14th to April 30th, then Hyundai Motor Finance will pay for your first six months of car premiums. The only catch is that you must have lost your job because of the coronavirus pandemic. Also, if you purchased from a specific selection of Hyundai models before April 30th, then Hyundai Motor Finance will give you 0% APR on the car loan if you have a high credit score. They will also let you defer your car payments for four months.
Infiniti Financial Services will approve you for a car loan with 0% APR for no more than 72 months if you purchase any Infiniti vehicle model and possess a high credit score. They will also let you defer payments for three months too.
Jaguar Land Rover
If you purchase a new 2020 Jaguar Land Rover model or the 2021 Jaguar F-type model, then Jaguar Land Rover Financial Group will approve you for a 0% APR car loan with a term of no more than 72 months. You can defer your first three months of car payments too.
If you purchase from a selection of new Kia model vehicles, then Kia Motors Finance will let you defer your first four months of payments. They will also approve you for a 0% APR car loan with a term of 75 months.
Maserati Capital will defer payments for three months if you purchase a new Maserati vehicle.
If you purchase a new Mazda from a select group of vehicle models, then Mazda Capital Services will let you defer payments for three months and approve you for a 0.9% APR car loan with a term of no more than 60 months. If you already own a Mazda vehicle and you wish to lease or purchase a new one, you may qualify to receive $1,500 in credit that can be applied to the deal.
If you purchase a new Mitsubishi vehicle, then Ally will let you defer payments for three months. Ally is the leading financing partner of Mitsubishi.
If you purchase a new Nissan vehicle, then Nissan Motor Acceptance will let you defer payments for three months. They will even pay two months of car payments for you too.
If you purchased a new vehicle or certified pre-owned vehicle at some point from April 4th to June 30th, you could defer your car payments for three months if you used Porsche Financial Services to obtain your car loan. They offered 1.95% APR with a term of 60 months for anyone with a high credit score.
If you purchased a new Subaru, then Subaru Financial Services will defer your payments for three months.
Toyota / Lexus
If you purchased a new Toyota model vehicle or one of their luxury Lexus vehicles at some point from March 18th to May 4th, then Toyota Financial Services will let you defer payments for three months.
Did you lose your job because of the coronavirus pandemic? If so, you can purchase a new Volkswagen and have $750 worth of payments waived for up to 6 months by Volkswagen Credit. The lender offers 0% APR car loans with a term of no more than 60 months if you purchase a certified pre-owned vehicle. And if you purchase from a selection of new Volkswagen vehicles, then Volkswagen Credit will give you a 0% APR car loan with a 72-month term and let you defer payments for six months.
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