Several automakers and lenders are offering financial relief to customers and residents in communities affected by Hurricane Michael.
Ally Financial, a major lender, is offering deferrals, credit extensions and other options to affected dealerships to help resume normal business operations. Ally Financial said it will also waive late charges, offer payment extensions and waive upfront charges to consumers affected by the storm. Ally is also matching employee donations to the American Red Cross, up to $250 per employee.
Ford Motor Credit
Ford Motor Credit Co. is allowing qualified customers purchasing new vehicles to defer their first payment for 120 days — until 2019. Ford Motor Credit says existing Ford Credit and Lincoln Automotive Financial Services customers affected by the hurricane may apply to defer one or two monthly payments.
Mercedes-Benz Financial Services and Daimler Truck Financial will offer extensions and deferred payments, redirected billing statements and no-cost phone payments.
Nissan Motor Acceptance
Nissan Motor Acceptance Corp. is offering deferred payment options and employee pricing on new vehicles for those affected. Employee pricing with a delayed payment option will be available on most Nissan vehicles to affected victims of Hurricane Michael. Discounts for those affected in Florida, South Carolina, North Carolina, and Georgia, have until Jan. 2, 2019 to apply.
Toyota Financial Services
Toyota Financial Services is offering payment relief options that include extensions and lease deferred payments, redirected billing statements, and phone or online payments. TFS says customers seeking relief could be offered up to a 60-day extension for a loan or a 60-day deferral on a lease. The captive finance arm will also wave deferral fees for lease customers. No fees will be charged for loan extensions or lease deferrals. Assistance will be offered for the next 30 days and may be extended, if necessary.