With the virus affecting so many of us, I thought I’d share a little bit about what car manufacturers, lenders and dealers are doing to help.
No payments for 90 and 120 days - 0% loans
The payment deferral and low rate loans are a result of the automakers and their captive finance arms working together to provide this type of offer to consumers. These offers can provide a tremendous amount of value, especially if you must purchase a vehicle in near-future. We are still unsure if any of the manufacturers will offer this on their lease programs, many lease customers (myself included) have a lease maturing in the next few months, and may want to find a replacement lease. As soon as we get more info on any special lease programs, I will update this page.
So far I have seen offers like these from GM, Ford, Fiat Chrysler Ram Jeep and Hyundai. Not all vehicles in their lineups will qualify for this, so be sure to check and see if the car/truck you are after is included.
Payment deferral for current loans
For those with a car loan, most lenders that we have spoken with are offering some form of payment relief for folks who may run into trouble making their current car payment. So far we have heard from banks such as Ally Financial, Wells Fargo Auto, and many of our local Colorado credit unions. Here is a list of manufacturers that have announced these relief programs:
https://www.caranddriver.com/news/a31789232/automakers-incentives-support-borrowers/?utm_campaign=socialflowFBCD&utm_source=facebook&utm_medium=social-media&src=socialflowFBCAD&fbclid=IwAR2bvP2jzPR0wfwydoPEtr7HliUZlhOY4w9d-cgEnNqpJ7h-Tm34T6Wo7tY
Dealerships and Brokerages
Our auto brokerage H.M. Brown & Associates, along with some dealers will be enhancing how we do business:
We at H.M. Brown are vastly increasing the level of detailing: Every vehicle, whether it is one of our vehicles for sale or a customer vehicle will be wiped down with sanitizing solutions on all key touch areas – door handles, dashboard controls, center consoles, etc. before and after either a staff member or customer interacts with a vehicle.
For the foreseeable future, we will be maintaining normal business operations at our office in Centennial, Colorado.. Our entire team of automotive professionals takes great pride in the quality, experience and value we offer our customers. While we are currently maintaining regular operations, we are prepared to modify the ways we service your automotive needs.
As always, we offer off-site delivery for new and used vehicle sales. We will continue to monitor this rapidly evolving situation and make adjustments to our safety protocol as needed to ensure we are complying with CDC guidelines and putting the health and safety of our customers and employees first.
We have been closely monitoring the evolving situation regarding coronavirus (COVID-19). Our core focus at this time is caring for the health and well-being of our customers and employees. In addition, we are doing our part to play an active role in helping to contain the spread of this virus in our local communities.
Final Thoughts
If you have any questions about whether you would qualify for these programs, please feel free to reach out to us. We work with each and every car brand out there, which makes getting the information you need a breeze.
Regards,
Joe
