Automakers have been reaching out to vehicle owners during the pandemic, trying help them with potential problems whether that’s with making payments, vehicle maintenance or other problems.
Hyundai Motor Co.’s latest effort is a warranty extension policy for its vehicles worldwide, which aims to aid customers facing problems with getting vehicles serviced and repaired during the COVID-19 pandemic.
U.S. owners with a 5-year/60,000-mile new vehicle limited warranty or a 10-year/100,000-mile powertrain warranty expiring between March and June 2020, will now get the warranty coverage extended to June 30, 2020. All eligible customers will be contacted with more details about the program.
“This is another great example of how we have our customer’s back and continue to reinforce America’s Best Warranty,” said Barry Ratzlaff, chief customer officer, Hyundai Motor America. “While most Hyundai dealers are open to provide service, we want our customers to feel comfortable visiting their dealerships for warranty work and any vehicle service.”
Officials at the South Korean automaker point out that maintenance has been deemed an essential business in most places across the country. Many Hyundai dealership showrooms are closed due to shelter-in-place and other restrictive orders by local, state and federal officials. However, most service departments have remained open during the pandemic.
In addition to extending the warranties on vehicles, Hyundai’s Job Loss Assurance Program will make up to six months of payments for new owners who lose their jobs due to COVID-19 and have purchased or leased their vehicle between March 14 to April 30, 2020, through Hyundai Motor Finance.
The company is also providing a free three-month extension of Hyundai’s Blue Link Connected Care service, which includes SOS Emergency Assistance, Enhanced Roadside Assistance and Automatic Collision Notification, for customers with accounts expiring March 20 through the end of May.
The automaker isn’t alone. Others are offering similar help to current owners, including:
BMW (including BMW and Mini brands)
- The automaker says it will work with customers on an individual basis to discuss possible assistance or relief with loans and leases
Fiat Chrysler Automobiles (brands including Alfa Romeo, Dodge, Fiat, Jeep, Maserati, Ram)
- Current owners and leasees may qualify for flexible payments or payment extensions, the automaker to decide on a case-by-case basis
- FCA also is offering 0% financing and/or deferred payment options on a variety of models
Ford (including Ford and Lincoln brands)
- Existing owners and lessees can negotiate flexible payment plans and payment extensions on a case-by-case basis
- New buyers may be able to defer payments for up to 90 days
General Motors (including Buick, Cadillac, Chevrolet, GMC)
- Existing owners and lessees can discuss flexible payment plans and payment extensions, again, on a case-by-case basis
- Qualifying customers can get 0% loan rates for up to 84 months while also deferring payments for up to 120 days
- For existing customers, case-by-case consideration of options including payment deferral
- For existing customers who financed through Ally, up to 120 days of payment deferments
- New customers may qualify for up to 90 days of deferred payments
Nissan (including Nissan and Infiniti brands)
- Automaker has set up hotline for existing customers who may be eligible to reschedule current repayment plan
- Prospective customers may be eligible for deferred payments, depending on loan length
Toyota (including Toyota and Lexus brands)
- Current customers may qualify for flexible payment arrangement or payment extensions on a case-by-case basis
Note that the payment assistance an automaker might be offering may be available only to customers who used their “captive,” or in-house lending units, such as Ford Motor Credit. But not everyone goes that route. Some banks and other lenders are also offering payment relief. That includes Capital One and Wells Fargo, who tell customers to reach out to them on a one-by-one basis.