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Automakers offer relief, deals to Harvey victims

September 8, 2017
In addition to making donations to relief agencies such as the American Red Cross and community food banks, some automakers announced various offers of payment relief to customers whose vehicles were damaged by Hurricane Harvey flooding.
Cox Automotive estimated the number of vehicles damaged or destroyed by that hurricane and associated flooding to be between 300,000 and 500,000.
In addition to relief, the automaker offers could help them sell more vehicles in what has been a very slow market.
Ford’s special assistance bundle, "Texas Is Family," includes no-haggle, below-invoice employee pricing, no payments until next year, and low Ford Credit APR or lease rates. First responders in hurricane-affected areas can get a special $1,000 discount, in addition to all available incentives, toward the purchase of any Ford or Lincoln vehicle.
GM Financial is assisting impacted customers with payment arrangements and waiving related fees. Eligible customers who are replacing a vehicle may qualify for a 90-day deferred first payment. Chevrolet, Buick, GMC and Cadillac also are offering $1,000 in Disaster Relief Assistance to customers in the most heavily impacted areas of Texas and Louisiana through Oct. 2. Also, General Motors is moving used-vehicle inventory to Chevrolet, Buick, GMC and Cadillac dealerships so that people with flood-damaged vehicles have access to rental cars and courtesy transportation.
Honda announced that its credit arm is offering loan extensions and is "significantly curtailing collection activities in the areas" and is working with its dealerships that are in need of assistance.
 
Hyundai Capital America offered to extend payment terms and redirect billing statements, and Hyundai and Genesis will give a $750 discount on all 2017-2018 models for customers who had a vehicle damaged by the hurricane.
Nissan’s captive financiers are proactively attempting to reach consumers living in FEMA-designated disaster areas to offer payment extensions and deferrals. 
Subaru Finance1 will waive or refund late fees for accounts through Sept. 10, and is providing payment options for customers having trouble making monthly payment
Impacted lease and finance customers of Toyota Financial Services also can seek payment relief options, including extensions and deferrals, and redirected billing statements. Volvo Car Financial Services has relief options, and Volvo Car will give a $1,000 benefit on any Volvo vehicle, whether or not the customer owned a Volvo.
 
 

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