There’s no doubt the main headline in the COVID-19 pandemic is the disease’s potential to cause serious illness and death among those who contract it.
But running a close second is the coronavirus outbreak’s effect on the economy. There are few industries that are not suffering financially, and when businesses fall on hard times, so do many of their employees.
If you’re among the workers who are now unemployed or making significantly less money because of the coronavirus, the first thing to know is that you’re not alone. Second, if you’re worried about being able to keep making your car payments, many of Canada’s automakers have announced they’re willing to help.
While a handful of brands have made specific offers to customers feeling the pinch, the majority say they will work out financial relief terms on a case-by-case basis.
If you decide to defer one or more payments on your car loan or lease, get written confirmation of such an agreement from your lender. It’s up to the bank or the car company’s financial services division to ensure your credit score doesn’t suffer because of a deferral. According to the Toronto Star, if your deferred payment is mistakenly recorded as delinquent with Canada’s credit reporting agencies, it will have a negative effect on your rating.
Also, be aware that deferring a payment does not equal forgiveness. According to CIBC, you’ll still be charged interest on the amount you owe, and if you skip three months of payments now, they will simply be added onto your original repayment period.
In alphabetical order, here’s what Canada’s car companies say they’ll do to help 
vehicle owners facing financial hardship.
Acura
On March 19, Acura, posting to its corporate Twitter account, asked customers to get in touch “if you have been impacted by COVID-19 and have questions or concerns about your Acura lease or finance payments.”
Audi
On March 20, Audi also communicated its offer of financial assistance via Twitter, telling owners that “Audi Finance is committed to assisting our customers affected by COVID-19.” The company advises customers seeking assistance with finance or lease payments to call 1-888-412-2834.
BMW
BMW Canada, which also operates the Mini brand, posted to Twitter that the company is “here to help and address your questions and concerns.” Call 1-800-3000-BMW (1-800-300-0269) or email service@BMWFinance.ca.
Fiat Chrysler Automobiles
Fiat Chrysler Automobiles (FCA) is the umbrella company that operates the Alfa Romeo, Chrysler, Dodge, Fiat and Jeep brands in Canada. According to FCA’s head of communications, Lou Ann Gosselin, “FCA Canada partners with various financing providers, many of which are offering financial relief.” She said customers should reach out to their lender to see what accommodations are available to them.
Gosselin also said FCA is offering new customers a 90-day no payment incentive on all 2019 and 2020 models from its brands.
Ford
Ford Motor Company of Canada says it is “here for you” if you are financing or leasing a new vehicle through Ford Credit and have been impacted by COVID-19. If you need help, visit Ford.ca/finance, or call 1-877-636-7346.
Genesis
On March 27, Hyundai’s luxury car brand launched the Genesis Cares support program, which “offers new and existing Genesis owners peace of mind during uncertain times.”
To existing customers, Genesis Cares offers three months of payment deferrals to finance customers, and a one-month reprieve to those leasing a vehicle. Meanwhile, new finance clients will get a six-month payment break on all Genesis models.
Lease customers who are in self-isolation can also extend the maturity date of their lease term by 30 days to three months.
As well, Genesis continues to offer its online purchase program, which includes at-home delivery of new vehicles.
General Motors
General Motors, which operates the Buick, Cadillac, Chevrolet, and GMC brands in Canada, says the company “stands ready to help during this difficult time.” It asks GM Financial customers in need of assistance to call 1-800-465-4591 or send an email to cservice@gmfinancial.com.
Honda
Honda Canada says each of its customer’s needs is unique, so owners should call 1-800-387-5399 or email cs@honda.ca to discuss how the company can help.
Hyundai
Hyundai’s offer of help is similar to that of its upscale Genesis subsidiary. Finance customers can apply for up to a three-month payment deferral by getting in touch with the bank that issued your loan. In Canada, Hyundai works with Royal Bank (1-800-769-2511), Scotiabank (1-800-472-6842) and TD Auto Finance (1-866-694-4392).
If you’re a leasing client, you can get a one-month payment break, and you can extend your lease term by 30 days to three months if the original vehicle return date falls during a period of self-isolation. Customers are asked to get in touch with Hyundai Capital at 1-800-205-0540 or service@hyundaifinancing.ca.
New customers can take up to six months to make their first payment, and Hyundai Canada has also reduced financing rates on most of its models.
Infiniti
Infiniti is asking its customers to contact their customer satisfaction department with any questions about payment deferrals at ncfcustomer.service@nissancanada.com. If you would prefer to speak to someone on the phone, call 1-800-268-0875 from Western Canada, or 1-800-565-2445 from Eastern Canada.
Lexus
Like many other car companies, Lexus says it is offering “payment relief to its guests on a case-by-case basis.” Get in touch by phone at 1-800-26-LEXUS (1-800-265-3987).
Mazda
Mazda Canada says that if your lease is coming due but you “aren’t in a position to replace (it) at this time, we are providing lease extensions.”
The company is also offering financing payment deferrals for customers “who absolutely need a new vehicle during these uncertain times.”
Mazda says it partners with Scotiabank for its financing programs, and asks customers affected by COVID-19 to direct questions and concerns to the bank by calling 1-800-4SCOTIA (1-800-472-6842). If you’re leasing a Mazda, call Mazda Financial Services at 1-888-703-8857.
Mercedes-Benz
Mercedes-Benz Canada says its financial services division “is here to support you during the events surrounding COVID-19. Our thoughts are with everyone impacted.”
The company says its customer care centres are open, and you can reach them at 1-888-532-7362. Please be patient when you call; Mercedes-Benz says they are experiencing longer-than-normal wait times due to high call volumes.
Mitsubishi
Mitsubishi Canada says its vehicle financing partner, Mitsubishi Motors Financial Services (MMFS), “is implementing a plan to ease financial stress, including payment rescheduling arrangements of up to 90 days and deferred payments on new vehicle purchases.”
You can reach MMFS’s customer service department at 1-877-739-9837, or at customerservice@mmfs.ca (English) and servicealaclientele@mmfs.ca (French).
Nissan
If you’re a Nissan Canada customer, send an email to NCFcustomer.service@nissancanada.com with your name and vehicle identification number (VIN), and tell them how you’d prefer to be contacted.
Porsche
Porsche Financial Services Canada, the company’s financing division, says it is “monitoring closely the outbreak of COVID-19 and is committed to assisting our customers who are affected.” Customers with questions and concerns are asked to email pfs.customerservice@porsche.ca or call 1-866-321-2933.
Subaru
Subaru Canada says its finance arm, Subaru Financial Services, is “offering payment relief to our customers in these exceptional circumstances, which will be evaluated on a case-by-case basis.” If you’re a Subaru customer, log into the Subaru Customer Portal; you’ll have to create an account if you don’t already have one.
Toyota
Toyota is also offering financial support on a case-by-case basis. Customers should call 1-800-661-3062 or log into the company’s customer portal. (portal.toyotafinancial.ca)
Volkswagen
Volkswagen Canada’s finance division says it is “committed to assisting our customers affected by COVID-19.” If you’re leasing or financing a new VW and would like to defer one or more payments, email your request to info@vwfinance.ca or call 1-800-668-8224.
Volvo
Volvo Cars Canada says the automaker is “committed to supporting our Canadian customers and retailers through this challenging time.” Any customers with income challenges should contact Volvo Car Financial Services or their dealer with questions about assistance.