September 18, 2020

Captives offer payment relief for customers impacted by Hurricane Laura

In an effort to help those impacted by Hurricane Laura, some captives are offering payment relief and assistance programs. Here is the list of captives offering support so far and their relief packages.

Volvo Car Financial Services

Volvo Car Financial Services has ceased collections temporarily and is offering payment extensions to customers in all ZIP codes impacted in Louisiana, Arkansas and Texas. Volvo Car Financial Services said it is also working on additional sales incentives available to those who have lost their vehicles as a result of Hurricane Laura.

Ford Motor Credit

Ford Motor Credit Co. is offering a disaster relief program to those impacted by Hurricane Laura, the Iowa derecho and California wildfires. The program allows qualified customers to delay one or two monthly payments. Postcards with instructions to request help will be sent to eligible Lincoln Automotive Financial Services and Ford Credit customers.

Mercedes-Benz Financial Services

Mercedes-Benz Financial Services USA is working with its affected customers on a case-by-case basis. Its team is prepared to offer extensions and payment deferrals. It has temporarily suspended signature requirements to ensure timely support.

BMW Group Financial Services

BMW Group Financial Services encourages its customers to contact the captive to discuss each situation individually.

Toyota Financial Services

Toyota and Lexus Financial Services is offering payment relief options to those affected by several disasters that have hit the U.S., including hurricanes Laura and Isaiah, California wildfires and the derecho that hit Iowa. Relief options include extensions and lease deferred payments, redirecting billing statements and arranging phone or online payments.