Captive automakers and major auto lenders Monday said customers impacted by the coronavirus crisis will be eligible for payment relief. Some lenders are also offering to delay payments on new-vehicle purchases or leases to entice buyers who might have postponed a purchase because of financial insecurity.
Ford Motor Credit Co., Nissan Motor Acceptance Corp. and Toyota Financial Services are among the automakers offering malleable payment and repayment programs, with larger lenders Wells Fargo Auto and Ally Financial following suit.
General Motors is offering 0 percent interest on 84-month loans and 120-day deferred payments on new-vehicle purchases for customers in top credit tiers, a spokesman said. GM also is providing complimentary OnStar crisis-assist services for Chevrolet, Buick, GMC and Cadillac owners, plus 3GB of data.
Ford Credit, NMAC and Ally Financial are offering customers who buy a new vehicle the option to delay their first payment for 90 days. Ford Credit will…