Every Brand With Coronavirus Car Deals & Assistance

By

Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - April 3, 2020

Automakers are trying to offer some relief for car buyers in the wake of the ever-changing environment caused by the coronavirus pandemic. While some dealers are offering online buying and options for home delivery, manufacturers have introduced unusually flexible financing deals for new car buyers.

The latest offers amidst COVID-19 range from unbelievably low finance rates to payment deferrals involving no payments for up to 6 months. In some cases, consumers will be able to lower their car payments by over $100/month during this time of uncertainty.

Here's a look at current offers from every major brand in alphabetical order. This page will be updated as more information becomes available.

For additional insight, be sure to read our analysis of what coronavirus means for car buyers.

Updated April 3: Volvo is offering 0% APR for the first time, Jaguar is offering 0% APR for 72 months on all models, Audi is offering deferred payments for 60 days, and Mazda has doubled its loyalty discount. We've also added MINI.

BMW & MINI

BMW X3

What's Being Offered: BMW and MINI are offering 90 days to make your first months' payment. BMW hasn't cut financing rates like some of its competitors. However, that could change as the brand's offers are due to change on April 6.

At the moment, the best rate is 3.19% APR for 60 months plus an APR Credit worth up to $4,000 in the case of the 2020 BMW 5-Series. Lease prices start at $349/month for the more popular 2020 BMW X1 when coming from a competitor.

Stay tuned for updates.

Who's Eligible: Well-qualified shoppers.

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FCA (Chrysler, Dodge, Jeep, RAM)

Chrysler Pacifica

What's Being Offered: Well-qualified buyers can enjoy 0% APR for up to 84 months on select models. plus a 90-day deferral on your first month's payment. In some cases, this equates to a significant drop in both monthly payment and money paid in interest.

For example, the longest loan for the 2020 Jeep Grand Cherokee was 3.9% APR for 72 months. With a $35,000 vehicle, that meant over $4,300 in interest and a payment of $546/month. Now, the payment has fallen to $417, an advantage of $129/month plus $0 in interest.

2020 Chrysler Pacifica models also qualify for Employee Pricing which is 5% below invoice price plus a $200 fee. This can be combined with the payment deferral plus 0% APR for 60 months or 1.9% APR for 72 months.

Who's Eligible: New car buyers with a FICO score above 680.

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Ford & Lincoln

Ford Explorer

What's Being Offered: For those who are looking to buy a new Ford or Lincoln during the outbreak, Ford is offering customers the option to delay first payments up to 90 days when purchased through Ford Credit. Additionally, most remaining 2019 models are eligible for 0% financing for 84 months.

Although Ford is taking a case-by-case approach, current customers financing or leasing through Ford Credit are encouraged to call the company in order to explore possible delay of payment or payment rescheduling options.

Who's Eligible: Current and prospective Ford and Lincoln customers.

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GM (Chevy, Buick, GMC, Cadillac)

Chevrolet Silverado

What's Being Offered: General Motors is now offering customers 0% APR for 84-months on select models, which is up to two years longer than recent 0% financing offers. In addition, customers can also get their payments deferred up to four months.

Who's Eligible: Only customers with top tier credit are eligible for full offers while those with lower credit may not qualify for the low interest. Payment deferral is available on most 2019/2020 Chevrolet, Buick, Cadillac, and GMC models while promotional financing is only available on the following:

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Honda & Acura Updated

Honda Pilot

What's Being Offered: Honda and Acura are offering 90-day payment deferrals on new vehicles. Honda has also lowered lease payments by anywhere from $10 to $30. You can now lease a 2020 Pilot LX from as little as $269/month, making it one of this month's best SUV leases.

Both companies are also among brands offering new loyalty discounts to help current customers. Honda is offering an extra $1,000 off while Acura owners can get an additional $500 when buying or leasing through the automakers' captive finance companies.

For current owners, be sure to contact your lender to discuss payment extensions, deferrals, and late fee waivers.

Who's Eligible: Well-qualified new car buyers and current customers.

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Hyundai & Genesis

Hyundai Venue

What's Being Offered: Hyundai & Genesis launched a Job Loss Protection Program and are offering to cover up to six months of payments for any new owners who have lost their job because of coronavirus-related cutbacks. The customer must have bought or leased their vehicle between March 14 and April 30, 2020.

Hyundai is now offering 0% APR for 84 months plus a 120-day deferral on your first month's new car payment on select 2019 vehicles. While no 2020s offer the bargain-basement rate, the deferral is available on any new Santa Fe, Tucson, Elantra, Elantra GT, Kona, Venue, and Accent and can be combined with other offers for buying & leasing. Genesis is also extending the same deal on the 2019 G70.

Rates on the redesigned 2020 Sonata have also been cut to 0% APR for 60 months (down from 1.9% earlier this month). On a $30,000 car, that can equate to nearly $1,500 in interest cost savings.

We've also learned that Hyundai is offering a $500 loyalty discount on most models, with up to $1,000 available on the Santa Fe.

Who's Eligible: New car shoppers are eligible for deferred payments but 0% financing is only available to those with top-tier credit. For Job Loss Protection, Hyundai Motor Finance or Genesis Finance customers who involuntarily lose their job should contact their lender for more information.

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Jaguar & Land Rover New

Jaguar F-TYPE

What's Being Offered: Jaguar and Land Rover are now offering 0% APR for 72 months on every single vehicle, something we've never seen before. Even all-new models like the 2021 Jaguar F-TYPE are eligible. Both brands are also offering a 90-day deferment on your first payment.

That said, we're seeing no major changes in lease prices. As a result, these offers favor those looking to buy rather than lease.

Who's Eligible: Well-qualified shoppers looking to purchase by April 30.

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Kia

Kia Sportage

What's Being Offered: Kia is offering to defer your first payment for up to 120 days across most of its lineup. In most cases, you can combine the incentive with rates as low as 0% APR for 66 months on vehicles like the 2020 Optima and Sportage.

At the moment, we aren't seeing the same type of Job Loss Protection Program that sister company Hyundai is offering to current customers.

Who's Eligible: New car shoppers are eligible for deferred payments through April 30.

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Mazda Updated

Mazda CX-5

What's Being Offered: Mazda is offering no payments for 90 days on new and used vehicles purchased through its new finance arm, Mazda Financial Services. Shoppers can combine the offer with rates as low as 0.9% APR for 60 months on models like the 2020 Mazda CX-5.

Current Mazda owners should also be aware that the automaker has doubled its loyalty discount to $1,500. Other noteworthy improvements include a full percentage point cut in financing rate for the all-new 2020 Mazda CX-30 from 1.9% APR to just 0.9% for 60 months.

Who's Eligible: Well-qualified shoppers will find offers in all regions but it's important to remember that rebates and lease prices may vary depending on zip code. Contact your local dealer for details.

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Mercedes-Benz

Mercedes-Benz S-Class

What's Being Offered: Mercedes-Benz is offering up to a 90-day deferral on your first month's payment.

We've also learned the automaker is offering unusually good loyalty discounts worth up to $5,000 off vehicles like the 2020 S-Class when financing or leasing through Mercedes-Benz Financial Services.

Who's Eligible: New car shoppers and current customers.

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Nissan & Infiniti

Nissan Sentra

What's Being Offered: Nissan has cut financing rates to as low as 0% across much of its lineup. Well-qualified buyers can also enjoy a 90-day deferral on their first month's payment. In some cases, the brand is offering interest-free financing for up to 84 months.

However, our analysis finds that models with 0% APR for 84 months are limited to the 2019 Frontier and Titan pickups. Vehicles like the budget-oriented 2020 Kicks are limited to 1.9% APR for 60 months. That said, there are some great deals to be had if you know where to look.

For example, the 2020 Sentra is now eligible for 0% APR for 60 months plus a $500 cash incentive here in Southern California. Previously, the best deal was 0% for 36 months plus a $750 bonus. This small change can potentially lower the payment on a $20,000 car by over $200/month.

Who's Eligible: Shoppers with above-average credit financing through Nissan Motor Acceptance Corp. (NMAC) or Infiniti Financial Services (IFS).

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Subaru

Subaru Outback

What's Being Offered: 2020 Subaru vehicles are now featuring some of the lowest financing rates we've seen to date. Most models such as the Ascent, Forester, Impreza, Legacy, and Outback are eligible for 0% APR for up to 63 months.

The BRZ and WRX rarely see drops in interest rate but are now available for 0.9% for 48 months, two whole percentage points lower than earlier this month. The drop in interest can result in significant savings for consumers.

We've also learned that Subaru is giving dealers up to $1,500 in dealer cash to provide better deals on the Ascent. The catch is that the offer can't be combined with Subaru's special financing rates or lease deals. Contact your local dealer to explore your options.

Who's eligible: Well-qualified Subaru shoppers. Offers may vary by region.

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Toyota & Lexus

Toyota RAV4

What's Being Offered: Toyota is offering to waive your first month's payment for up to 90 days. However, the brand is resisting the urge to lower auto loan rates like its competitors. In fact, we're seeing no major improvements in rebates or lease prices so far in April.

Both brands are offering payment relief to current customers financing through Toyota Financial Services or Lexus Financial Services. At the moment, that consists of either deferred lease payments or payment extensions for loan contracts. Contact your lender for details.

Who's Eligible: Current customers financially impacted by COVID-19.

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Volkswagen & Audi

Volkswagen Atlas Cross Sport

What's Being Offered: VW is offering 0% APR for 72 months on nearly every model it sells. In addition, eligible buyers can defer their first month's payment up to 180 days. This is an unprecedented deal you can even get on all-new vehicles like the 2020 Atlas Cross Sport.

Audi is offering up to 60 days to make your first payment and has lowered 2020 vehicle rates to as low as 1.99% APR for 66 months (or 2.99% for 75). That's a full percentage point improvement. Current customers can also take advantage of a $1,000 loyalty discount.

Who's Eligible: Well-qualified buyers looking to buy before April 30.

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Volvo Updated

Volvo XC40

What's Being Offered: Volvo has cut financing rates on the 2020 S60, XC60, and XC90 to 0% APR for 60 months. Last month, the lowest rate was 2.99%. On a $40,000 vehicle, that translates to a difference of over $3,100 in interest with a $52 cut in estimated monthly payment.

Loyalty discounts have been increased on both lease and purchase contracts. In western states, $1,500 is available for leases and $2,000 on purchases. In New York, current owners can get as much as $2,500 off when buying.

Who's eligible: Well-qualified buyers and current Volvo owners and lessees looking to buy before April 30.

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, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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