Ford & Hyundai doing their part to help those affected by the Coronavirus
It seems every day the news gets worse. The Coronavirus is shutting the world down one country at a time. Given the uncertainty surrounding the pandemic you couldn't blame people for worrying. After you get past the very real health concerns the next major issue concerning people is, "what happens if I get laid off?"
Lay-offs are happening around the country as more and more of the non-essential businesses get shut down. What happens to those who just purchased or are in need of purchasing a new car? New cars are a major expense and with the spectre of unemployment looming on the horizon what do these people do?
Ford and Hyundai have stepped forward to try and offer some help. Ford will give new customers via their credit division the option to divert their first 90 days worth of payments.
Hyundai will also offer a 90 day deferal option to those who lose their jobs involuntarily however, they aren't stopping there. In an attempt to give their owners "peace of mind in uncertain times" Hyundai will make up to six months worth of payments for owners who lose their jobs.
The auto industry saw better than projected sales in February, prior to the full scale outbreak in the United States. Hyundai is implementing the same plan they used during the "Great Recession" which saw their market share significantly rise as a result.