Wednesday, February 28, 2024
News COVID-19: Canadian Consumers To Get Financial Breaks From Some Automakers

COVID-19: Canadian Consumers To Get Financial Breaks From Some Automakers

A number of carmakers are working towards easing financial burdens during the coronavirus pandemic.

  • Ford, Hyundai, and Toyota are offering various types of financial relief.

  • Payment deferrals and various incentives are in place to ease the pressure.


As we double-down and dig in our heels to face the ongoing coronavirus outbreak, many of us are finding ourselves with reduced incomes and possibly without work. In an effort to help out, many car manufacturers are offering to ease the financial burden of car payments through a number of programs.

Hyundai will provide new vehicle customers with a 6-month payment deferral program on top of a 1% rate reduction on various eligible vehicles. Exiting leasing customers get a 1-month payment deferral while those financing will be entitled to 3 months. And, if your lease is almost up, Hyundai will give these customers a 1 to 3-month extension.

Meanwhile, Ford invites its existing customers to take advantage of their “Built to Lend a Hand Program” and call 1-877-636-7346 to work out a possible 90-day extension on payments. Those shopping for a new 2019 or 2020 vehicle and looking to finance through Ford Credit will be entitled to 3 months paid by Ford plus 3 months of deferred payments.

As well, Toyota Financial Services invites its customers to contact them at 1-800-661-3062 to work out accommodations.

In order to help you out, here are links to information or contact pages for the following manufacturers in Canada:


Acura

1‐866‐899‐4440

concierge@acura.ca.


Audi

1.888.412.2834

info@audifinance.ca


BMW

1-800-3000-BMW

service@BMWFinance.ca


FCA

1-800-465-2001

email


Ford

1-877-636-7346


Genesis

1 (800) 205-0402

service@genesisfinance.ca


GM Financial

1-800-465-4591

cservice@gmfinancial.com


Honda

1‐800‐387‐5399

cs@honda.ca.


Hyundai

1-800-205-0540

service@hyundaifinancing.ca


Infiniti

1-800-268-6499

IFScustomer.service@infiniticanada.com


Kia

1-866-250-3151


Lexus

1-800-265-3987


Lincoln

1-855-768-8909


Mazda

1-888-703-8857 (Lease)

1-800-472-6842 (Finance)


Mercedes-Benz

1-888-532-7362


Mitsubishi

1-877-739-9837

customerservice@mmfs.ca


Nissan

NCFcustomer.service@nissancanada.com


Porsche

1-866-321-2933

pfs.customerservice@porsche.ca


Subaru

1-888-513-5949

Toyota

1-800-661-3062


Volvo

1-800-663-8255


Volkswagen

1.800.668.8224

info@vwfinance.ca

Here are two pieces of advice: It’s important to know that we’re all in this together. As well, it’s equally important to understand that no one, no matter the circumstances, can simply decide to arbitrarily stop paying down a loan – this will cause more harm than good in the long run.

 

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Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

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