Which Automakers Are Offering Incentives During the Coronavirus Crisis?

By Autolist Editorial | May 15, 2020

Numerous automakers are offering meaningful incentives and payment plan options to new-car buyers and to customers who are affected by the coronavirus crisis. Read on to see the specifics of what each brands is offering. This article was last updated on May 15, 2020; Autolist will continue to update the piece as more programs become available or change.

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Existing Acura and Honda Financial Services customers can take advantage of extensions and first payment deferrals of up to 60 days. The companies will also waive the late fees for people affected by COVID-19.

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The companies will offer up to $500 towards the purchase or lease of an Acura and up to $1,000 for the purchase of a new Honda as a loyalty purchase assistance.

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Audi is offering zero-interest financing on 2019 models for up to 72 months.

The German luxury automaker is also offering new customers the option of defering their first month's payment for 60 days on all new purchased models.

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Existing Audi owners whose warranties were set to expire between March 1 and May 31 will have those plans extended by three months at no charge.

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Honda and Acura certified preowned (CPO) buyers may be eligible for special financing rates on certain vehicles, such as the Acura TLX and RDX, and the Honda Civic, Accord, and CR-V.

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Both companies are offering 90 days of deferred payments for qualifying customers.

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Current FCA customers (which includes Dodge, Ram, Jeep, Chrysler, Fiat, Alfa Romeo, and Maserati) may be eligible for flexible payment arrangements, but payment plans are set up on an individual basis, so check with your dealer or lender for more details.

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Qualified prospective buyers can take advantage of 0% financing for up to 84 months on select Jeep, Dodge, and Ram vehicles. Other models in the Chrysler lineup may be eligible for 0% financing for up to 60 months and deferred payments for 90 days.

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Ford is offering six months of deferred payments for qualified new customers who finance or lease through Ford Credit. Ford covers the first three months, and customers can defer for another three months. Note: this only applies to 2019 models.

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Existing Ford customers may also defer payments for up to three months if they've been affected by this crisis.

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GM is offering 0% financing for up to 84 months for all 2019 and 2020 model year vehicles. Check with your Buick, GMC, Cadillac, or Chevrolet dealer for details.

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Payments may be deferred for the first four months of the financing arm, but only for customers with top-tier credit ratings.

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New Genesis buyers that purchase the G70, G80, or G90 sedans between now and April 30 can take advantage of up to six months of deferred payments, as long as the vehicle is financed through Genesis Finance. Proof of job loss is required.

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G70 buyers can defer payments for up to 90 days if the vehicle is purchased by April 30. Current owners can take advantage of the deferral program if they lose their job or have been medically impacted by COVID-19.

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Buyers of select Hyundai models purchased before April 30 may be eligible for up to 90 days of deferred payments. Vehicles covered in this program include the Santa Fe, Tucson, Elantra, Elantra GT, Kona, Venue, and Accent.

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Hyundai buyers that purchased their vehicle between now and May 17 may receive up to six months of payment coverage if their job was impacted by COVID-19.

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Consumers who currently own or lease a Jaguar or Land Rover can extend for up to six months a lease that's set to expire. Existing customers who start anew lease will have two payments of up to $750 covered by the automaker.

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New JLR buyers and lessees can choose 0% financing for up to 72 months and defer payments for the first 90 days if they finance through the automaker. This offer is currently set to expire at the end of May.

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New Kia buyers are being offered 72-month loans at 0% interest and deferred payments for up to 120 days.

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Existing Kia customers may be eligible for up to three 30-day payment extensions, if they have been affected by the coronavirus pandemic.

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Mazda is offering existing owners and lessees flexible payment plans if they financed through the automaker. Offers are on a case-by-case basis.

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Mazda is offering existing owners and lessees flexible payment plans if they financed through the automaker. Offers are on a case-by-case basis.

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Mini is extending warranties for 30 days for customers whose existing plans were set to expire between March 16 and April 16, 2020.

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Mini is extending warranties for 30 days for customers whose existing plans were set to expire between March 16 and April 16, 2020.

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If the vehicle was financed through Ally Financial, current Mitsubishi owners may be eligible for up to four months of deferred loan payments.

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New/prospective buyers may be able to take advantage of up to 90 days of deferred payments.

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Up to 90 days of deferred payments on loans of either 60 or 72 months.

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Individual support for payment arrangements and rescheduling.

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Up to 90 days of deferred payments on loans of either 60 or 72 months.

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Individual support for payment arrangements and rescheduling.

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Porsche has expedited its online buying service, which lets customers complete the entire purchase via the internet. The automaker is also offering home delivery of new and pre-owned models. Existing owners and lessees who have experienced financial hardship are being offered payment deferrals of 30 to 60 days on a case-by-case basis.

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Leases that expire in April can be extended for up to six months now (the normal length is two months).

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Prospective buyers may be eligible for 0% financing for up to 63 months on new Ascent, Forester, Impreza, Legacy, and Outback models.

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Prospective buyers may be eligible for 0% financing for up to 63 months on new Ascent, Forester, Impreza, Legacy, and Outback models.

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Up to 90 days of deferred payments on both new and CPO vehicles, as long as financing is done through Toyota or Lexus Financial Services. Credit restrictions may apply, and the financing term must be a maximum of 72 months.

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Payment extensions and other arrangements may be set on a case-by-case basis.

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Payment extensions and other arrangements may be set on a case-by-case basis.

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VW will cover up to six months of payments (up to $750 per payment) for customers who buy and finance through the automaker by June 1 and then lose their jobs up to 90 days later (offer isn't valid in New York).

New shoppers are being offered 0% interest for up to 72 months and deferred payments for the first 120 days (previously it was 180 days).

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Existing VW owners and lessees may defer payments for up to 90 days without fees.

Lesees may extend their leases for up to six months, with a 20 percent reduction in the monthly payment for up to five payments if they extend their leases for at least three months.

Dealers in some areas may also be offering at-home vehicle pickup and dropoff for VW vehicles that need service or repairs.

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Existing Volvo owners and lessees who are experiencing financial hardship due to the coronavirus are encouraged to contact the automaker for lease extensions or payment deferrals.

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Volvo is also promoting its online shopping availability and home delivery for new vehicles.

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