What Are the Best New-Car Deals and Incentives during the Pandemic?

Colin Beresford
Photo credit: helen89 - Getty Images

From Car and Driver

  • Did you know you can get help during the coronavirus pandemic from the lender that writes up your lease or loan?
  • There are deals from automakers' own lenders and several other banking institutions.
  • The list below breaks it down by brand.

If you’ve been in search of a new car, almost every major manufacturer has made now a great time to pull the trigger. The spread of COVID-19 has brought the economy to a standstill, and with it, auto sales. As a result, automakers are piling on incentives for new vehicles and, in some cases, for leases. The offers are valid when you finance through one of the lending subsidiaries listed below, which is most often the captive financing arm of the given automaker.

Here is a list of all of the manufacturers with hot deals on new cars:

Acura

Acura Financial Services is offering new vehicle buyers three months of deferred payments as well as $500 toward the purchase or lease of certain Acura models.

BMW

BMW Financial Services is offering three months of deferred payments for vehicles, both new and certified pre-owned, bought between March 1 and June 30.

FCA

FCA, through Chrysler Capital, is offering buyers with top-tier credit history zero percent interest on loans up to 84-months, as well as three months of payment deferrals. The offer is available for select Alfa Romeo, Chrysler, Dodge, Ram, Fiat, and Jeep models.

Ford

Ford Credit, the lending subsidiary of the company, will make three of your payments and then offers three more months of payment deferral.

Genesis

Genesis Finance will provide up to six months of payment relief for customers who buy or purchase a new vehicle between March 14 and April 30 and lose their job due to COVID-19. The lending arm of the company will also allow buyers of the Genesis G70 who finance the vehicle at zero percent APR to defer payments for up to three months.

GM

GM Financial is offering zero percent interest on loans of up to 84-months for buyers with a top-tier credit history. New-vehicle buyers can also opt to defer payments for up to four months. The offers apply to select Chevy, Buick, Cadillac, and GMC models.

Honda

Honda Financial Services is offering $1000 toward the purchase or lease of certain models and new-vehicle buyers up to three months of payment deferrals.

Hyundai

Hyundai Motor Finance will make up to six months of payments for buyers who purchase or lease a new vehicle between March 14 and April 30 and lose their jobs due to COVID-19. Additionally, for select new purchases before April 30, the lender is offering zero percent APR for buyers with top-tier credit history and payment deferrals for up to four months

Jaguar/Land Rover

Jaguar Land Rover Financial Group is offering new-vehicle buyers zero percent APR on 2020 Jaguar and Land Rover models, as well as the 2021 Jaguar F-Type, for up to 72 months. The lender is also offering the opportunity for certain buyers to defer payments for up to three months.

Kia

Kia Motors Finance is offering new-vehicle payment deferrals for up to three months on select vehicles with zero percent APR for up to 75 months.

Maserati

Maserati Capital is offering new-vehicle buyers up to three months in payment deferrals.

Mazda

Mazda Capital Services is offering new-vehicle buyers payment deferrals for up to three months and 0.9 percent APR for up to 60 months on select new vehicles. Returning owners can qualify for a $1500 credit toward any new-vehicle purchase or lease.

Mitsubishi

Ally, Mitsubishi’s preferred financing source, is offering new-vehicle buyers payment deferrals for up to three months.

Nissan

For new vehicle buyers, Nissan Motor Acceptance Corp., the lending arm of the company, is offering a payment deferral of up to three months and will also cover payments for two months.

Subaru

Subaru Financial Services is offering new car buyers payment deferrals for up to three months.

Toyota and Lexus

Toyota and Lexus Financial Services are offering new vehicle buyers who make a purchase between March 18 and May 4 up to three months of payment deferrals.

Volkswagen

Volkswagen Credit will waive payments for up to $750 for as long as six months for new car buyers who lose their jobs due to COVID-19. The lending arm of the company is also offering zero-percent interest loans for up to 60 months for certified pre-owned vehicles. Additionally, Volkswagen Credit is offering new-vehicle buyers the option to defer payments for up to six months and is offering zero-percent APR loans for up to 72 months on select new vehicles.

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