Ford and Hyundai are the latest two automakers to offer Canadian customers financial relief and incentive during the global novel coronavirus pandemic.
Ford of Canada has initiated the “Built to Lend a Hand Program.” Through the program, Ford Credit is encouraging existing customers across Canada impacted by COVID-19 to contact the company to discuss payment extensions of up to 90 days. At the same time, eligible new purchases of most 2019 and 2020 models financed through Ford Credit receive up to six months of payment relief; three months of deferred payments, and three months covered by Ford of Canada.
Ford is also rolling out two new services to Canadians in self-isolation or who are otherwise unable to leave home or work during regular business hours. Customers who need their vehicle serviced can request pickup and delivery service from participating dealers. Dealership staff will pick up the vehicle from the customer and return it after service is completed.
For customers looking to purchase or lease a new vehicle, participating dealers will offer remote sales delivery, meaning dealership staff will deliver the new Ford or Lincoln vehicle directly to the customer.
However, Ford warns that with directives and guidance from national, provincial, regional and local authorities changing regularly, some dealerships might be required to temporarily close their doors, while others have made the decision to suspend operations.
“Ford of Canada respects and supports each dealer with the decision they feel is best for their employees and customers,” the automaker said in a statement.
Hyundai Canada is also offering financial assistance to its customers.
Those Hyundai owners who financed their vehicle can receive a three-month payment deferral.
Current lease customers can qualify for a one-month payment deferral. A maturity-date extension option also exists, where lease customers in self-isolation can delay their vehicle return at the end of the term by an additional 30 days to three months.
The automaker is also offering a six-month payment deferral program on all new vehicles financed at a Hyundai dealership, at the customer’s request.
Hyundai Canada is also offering a rate break of one per cent on most new vehicles.
General Motors and Nissan have also offered similar financial programs in Canada in light of the pandemic.