We're used to seeing car commercials that feature a happy family embarking on a road trip together in one of the advertiser's latest models, culminating in a promotion for a lease or financing offer. In the last couple of weeks, nearly every automaker has changed the tone of their ads into a message of hope and community during the COVID-19 crisis. Although the commercials look different, automakers still need to sell cars, and now more than ever, shoppers need assistance buying them. Fortunately, assistance is coming in the form of special offers such as payment deferments and financing incentives. We did some virtual digging to find the top 5 auto deals being offered during the COVID-19 crisis.
Kia is offering a long list of deals and incentives to help car shoppers with their vehicle purchases in uncertain times. "You don't have to defer your dreams" proclaims the webpage outlining Kia's "Accelerate the Good" program. This program offers everything from a 4-month payment deferral to 0% financing deals, and a special lease deal on Kia's newest Seltos crossover. To help keep shoppers safe, Kia is facilitating online sales and leasing and providing shuttle service and home pickup and delivery for service.
- 0% APR financing for 24-66 months for 2020 Kia Forte, Sportage, Sedona, Soul and Stinger
- 0% APR financing for 24-75 months for 2020 Optima, Sorento and Niro
- 120-day payment deferral, with a zero-percent financing rate (APR) when the payments begin
- $199 per month lease on the all-new Kia Seltos
Hyundai, which is Kia's sister company, has launched a program that is equally generous. The "Hyundai Assurance Job Loss Protection" program was first offered in 2009 as a response to the financial crisis and it now returns in the thick of the COVID-19 crisis. The program gives new customers peace of mind with the promise to cover 6 months of car payments if the customer loses their source of income. The offer is valid if they purchased the vehicle between March 14 and April 30th.
- 0% APR financing on select vehicles
- 120 days of deferred payments on select new Hyundai vehicles through April 30
- Up to six months of payments for Hyundai owners who purchased or leased a Hyundai vehicle between March 14 and April 30, 2020, if a job loss occurs due to COVID-19
3. Fiat Chrysler
If you're looking to buy a Jeep, Dodge, Ram or any other vehicle that falls under the FCA umbrella, the newly launched "Drive Forward" initiative couldn't come at a better time. The program allows shoppers to take advantage of incentives such as 0% financing and a 90-day payment deferral. The program will also enable shoppers to purchase vehicles from the safety of their homes via the Chrysler, Dodge, Jeep, Ram Truck, FIAT, and Alfa Romeo websites.
- 0% financing for 84 months on select Ram, Dodge, and Jeep models.
- 0% financing for 60 months on 2020 model Chrysler Pacificas and deferred payments for 90 days on some 2019 and 2020 models
- No payments for 90 days on select FCA 2019 and 2020 models
General Motors, which encompasses brands like Chevrolet, Buick, GMC, and Cadillac is offering 0% financing for up to 84 months and a generous 120 day deferred payment options on select vehicles like the Chevy Silverado, Chevy Corvette, or the Buick Enclave. To protect shoppers, GM is making it easy to shop online from a participating dealer and get the vehicle delivered right to your home.
- Interest-free financing for 84 months on select models including 2019 and 2020 Chevy Equinox, Silverado 1500 and Trax models.
- Deferred payments for up to 120 days on select vehicles
Last week, Ford launched its "Built to Lend a Hand" program to both help current owners and to make buying a new Ford easier for prospective customers. The program includes a 6-month payment relief plan for new customers who finance with Ford Credit. Ford will make 3 months of payments and allow customers to defer payment for an additional 3 months. The program includes 2019 and 2020 Ford models, with the exception of the 2020 Super Duty.
- Ford will cover your first three payments on most vehicles
- First payment deferred for 90 days