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Ford is launching a credit assistance program for new-car shoppers and those affected by the coronavirus.
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The automaker’s Ford Credit arm will allow buyers and lessees of Ford and Lincoln models to defer their first payment up to 90 days and is also setting up a hotline to work with existing customers who lose their jobs on the options available to them, including modifying their payment schedules.
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Hyundai and Genesis are offering similar 90-day deferral plans and will also make up to six monthly payments for customers who purchase a vehicle by April 30 and lose their jobs through Dec. 31.
The plans echoes previous offers extended to customers by Ford, Hyundai and other automakers during the 2009 financial crisis.