Automakers, lenders extend relief, assistance to Michael victims

Donathan Fabie and his wife Monica save beer on Friday from their restaurant damaged by Hurricane Michael in Mexico Beach, Florida Photo Credit: REUTERS

Several car manufacturers and lenders provide financial assistance to customers and residents in communities affected by hurricane Michael.

Ally Financial

Ally Financial, a major lender, offers deferment, credit enhancements and other options to affected dealers to resume normal business operations. Ally Financial said it will also abandon late indictments, offer payment expansions and waive prior costs to consumers affected by the storm. Ally also applies donations from employees to the American Red Cross, up to $ 250 per employee.

Ford Motor Credit

Ford Motor Credit Co. allows qualified customers to purchase new vehicles to postpone their first payment for 120 days – until 2019. Ford Motor Credit says that existing customers of Ford Credit and Lincoln Automotive Financial Services affected by the hurricane can submit an application to Or to postpone two monthly payments.

Mercedes-Benz / Daimler Truck

Mercedes-Benz Financial Services and Daimler Truck Financial offer extensions and deferred payments, redirected invoices and free telephone payments.

Nissan Motor Acceptance

Nissan Motor Acceptance Corp offers delayed payment options and employee prices on new vehicles for those affected. Employees with a delayed payment option will be available to affected victims of Hurricane Michael on most Nissan vehicles. Discounts for those affected in Florida, South Carolina, North Carolina and Georgia will apply until January 2, 2019.

Toyota Financial Services

Toyota Financial Services offers payment enhancement options with extensions and lease-deferred payments, redirected invoices, and telephone or online payments. TFS says that customers seeking help can offer a 60-day extension for a 60-day loan or deferment for a lease. The captive finance arm will also generate deferred compensation for lease customers. No fees will be charged for loan renewals or rent deferment. Assistance is offered in the next 30 days and can be renewed if necessary.

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