There are very good reasons that American consumers are seeking financial support and car-payment alternatives in the wake of the coronavirus pandemic and the business shutdowns that accompanied it. The unemployment numbers are staggering. At this writing, 22 million American workers have filed for unemployment benefits in the past four weeks alone. Millions of others have seen their hours cut, their salaries shaved, and their overall economic prospects severely diminished. If you are wondering how you’re going to make your next car loan or lease payment, you are certainly not alone. The COVID-19 scare is full of negative effects for everyone.
Yet, there is some good news on this score. Lenders and leasing companies don’t want your car; they want you to keep it. And if they have to wait a month — or two or three — to get those payments that you owe them, well, they can live with that. Most major car brands and their financial partners that fund the loans and leases are offering financial support and payment alternatives. Here’s a rundown.