Nissan, Toyota offering payment deferments to people affected by government shutdownTue, 15 Oct 2013 17:30:00 EST
Two weeks into the budget-related government shutdown and it sounds like some progress is finally being made, but that doesn't really help furloughed government employees pay their bills. To help out a little, Nissan and Toyota are joining Hyundai with offering payment deferments to current owners and lessees.
In a release, a Nissan spokesperson said the company is "sympathetic to any of our customers who find themselves in difficult financial circumstances – many times outside of their control."
Both Japanese automakers are allowing payment extensions of up to 90 days without penalties or fees. Unlike the Hyundai Assurance Plan, though, it doesn't seem like the Nissan or Toyota assistance will be extended to those who are still in the buying process. Scroll down for press releases from both companies about their respective payment deferment programs.
Nissan Offers Payment Extensions to Customers in Need
NASHVILLE, Tenn. - Nissan's financial services division, Nissan Motor Acceptance Corp. (NMAC), continues to be a leader in providing payment assistance to existing and new Nissan customers in times of need by offering a standard extension of payments up to 90 days*. This policy may become helpful to the hundreds of thousands of federal employees who are indefinitely furloughed during the government shutdown.
"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," said Mark Kaczynski, president, NMAC. "Our customers' needs are the No. 1 priority at Nissan, which is why we have this program available on an ongoing basis."
NMAC's payment extension plan allows qualifying lease and retail customers to delay payment up to three months without extension fees, where allowed by law and subject to certain conditions, to provide extra assistance to those in need.
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Toyota Financial Services Offers Payment Relief to Customers Affected by Federal Government Shutdown
TORRANCE, Calif., October 14, 2013 – Toyota Financial Services (TFS) announced it is offering payment relief options to its customers affected by the federal government shutdown. This broad outreach includes any Toyota Financial Services (TFS) or Lexus Financial Services (LFS) customer financially burdened by the government shutdown, including furloughed workers, businesses and employees of businesses directly affected by the shutdown, government contractors, and suppliers. TFS or LFS customers in good standing with their accounts may be eligible to defer up to three months of payments.
"The government shutdown has placed an unanticipated financial strain on many individuals and families," said Al Smith, Toyota Financial Services Group Vice President of Service Operations. "Toyota Financial Services and Lexus Financial Services remain committed to making the lives of our customers easier, so we are pleased to be able to provide some flexibility to our customers affected by this situation."
Customers who have been affected by the shutdown and would like to discuss their account options are encouraged to contact TFS or LFS:
Toyota Financial Services customers may call (800) 874-8822 or contact TFS via email using the Mail Center function after logging into ToyotaFinancial.com.
Lexus Financial Services customers may call (800) 874-7050 or contact LFS via email using the Mail Center function after logging into LexusFinancial.com.
By Jeffrey N. Ross
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