Acura Coronavirus Financial Relief and New Car Incentives

Rebecca A. Lindland | April 2, 2020

No one is protected from the destructive consequences of the COVID-19 pandemic, prompting automotive brands to offer assistance to prospective and existing customers though special coronavirus payment plans and programs. Acura is responding to the crisis by compiling a variety of programs for current owners and lessees, as well as offering new shoppers payment deferment and special offers for first responders and healthcare workers.

Acura Coronavirus Financial Relief and New Car Incentives

The infection rate of the coronavirus continues to climb, despite extensive national efforts to prevent the spread. No industry is spared the disruption to both personal and professional lives. While hundreds of dealer showrooms are closed for sales transactions, the service and repair bays are still open, with Acura carefully following CDC recommendations for all of its workers.

Here’s a recap of what Acura and its credit company, Acura Financial Services (AFS), is offering and what other services are impacted.

Acura Customer Relief Programs - Find the best deals!

Like most other automakers, Acura is providing financial assistance to existing customers in need of help during these trying times.

Acura owners who bought or leased a vehicle through AFS and are facing difficult financial circumstances can manage their account proactively using the institution’s customer website (AcuraFinancialServices.com). There, you can find details about late payment fee waivers, payment extensions, and payment deferrals, but you must contact AFS to confirm your eligibility.

For those account holders who need extra assistance due to the COVID-19 situation, specially trained AFS representatives are available. Find your regional service center to receive individualized attention. Acura Client Relations can be reached at 1-800-382-2238 or at their website, but wait times may be longer than normal.

 
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Acura New Car Incentives - Find the best deals!

If you’re shopping for an Acura, the brand is offering a 90-day deferred payment plan to qualified customers when financing through AFS. Keep in mind interest continues to accrue during the 90 days and this offer is not available in Florida.

Acura is also offering special loan rates on certified pre-owned examples of the TLX and RDX from April 1 to June 1, 2020. Additionally, on April 1, Acura announced a special $500 discount for First Responder and Healthcare Professionals on new vehicles financed or leased through AFS. See AFS for more details and eligibility.

For current AFS customers shopping for a new vehicle, there’s a $500 loyalty purchase assistance cash payment towards the purchase or lease of a new Acura model, with certain exclusions.

Most but not all Acura dealerships are closed, depending upon state stay-at-home orders and other assorted local regulations. Service and repair centers are still operating but call first to confirm any appointments.

Acura Factory Closures - Find the best deals!

All Acura products except for the RLX are produced in the U.S. at huge assembly plants in Marysville, Ohio and East Liberty, Ohio.

Acura and its parent company Honda became the first brands to suspend production at North American plants, halting production on March 18 for six days in anticipation of lowered demand. However, Acura recently announced all of its facilities will remain closed until April 7, when the company will further evaluate the situation.

Acura Economic Outlook & Sales Forecast - Find the best deals!

Acura reported March sales on April 1, suffering a 51.2% decline in year-over-year sales and a 21.6% decline for total first quarter sales compared to 2019. The drop was almost exactly the same for cars and SUVs.

Tyson Jominy, J.D. Power’s vice president of Data and Analytics, provides a broader perspective on the market. He expects new vehicle sales will be impacted by the coronavirus at least through April. With so many market uncertainties, the retail sales outlook is dependent upon a mix of consumer reactions to the virus and the potential legal restrictions on dealership sales operations.

J.D. Power has revised its sales numbers from a pre-virus estimate of 16.8 million units to 12.1-14.8 million units for 2020. The auto industry is remarkably resilient, and while the current situation is bleak, there is some comfort knowing many brands were in relatively good financial health when the pandemic hit. But it’s a small consolation if the economy and the workforce does not get back on its feet soon.

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