Amid news of a U.S. government shutdown, a couple automakers are stepping up to the plate, offering payment relief for workers directly affected by the furlough. Hyundai was the first automaker to react, saying it would use its Hyundai Assurance plan to extend all auto loan and lease payments for owners that are affected by the shutdown.
“We recognize the impact on family budgets that the furlough will drive,” said Hyundai’s North American president and CEO, John Krafcik, adding “this is our way of saying ‘we’ve got your back’ during this uncertain time.” Under the Hyundai plan, all current owners can defer payments for as long as they are out of work. Furloughed employees that want to purchase a Hyundai in the month of October will be granted a 90 day payment deferral.
Nissan Joins with Payment Extensions
Just today, Nissan’s financial arm–Nissan Motor Acceptance Corp.–announced that it too would offer assistance to existing and new customers by adding a standard extension of up to 90 days. NMAC’s president, Mark Kaczynski, said “NMAC is sympathetic to any of our customers who find themselves in difficult financial circumstances—many times outside of their control—and we want to provide assistance to help them through those times of uncertainty.”
Source: Hyundai, Nissan