Automakers, lenders extend relief, assistance to Michael victims


Donathan Fabie and his wife Monica salvage beer on Friday from their restaurant damaged by Hurricane Michael in Mexico Beach, Fla. Photo credit: REUTERS

Several automakers and lenders are offering financial relief to customers and residents in communities affected by Hurricane Michael.

Ally Financial

Ally Financial, a major lender, is offering deferrals, credit extensions and other options to affected dealerships to help resume normal business operations. Ally Financial said it will also waive late charges, offer payment extensions and waive upfront charges to consumers affected by the storm. Ally is also matching employee donations to the American Red Cross, up to $250 per employee.

Ford Motor Credit

Ford Motor Credit Co. is allowing qualified customers purchasing new vehicles to defer their first payment for 120 days — until 2019. Ford Motor Credit says existing Ford Credit and Lincoln Automotive Financial Services customers affected by the hurricane may apply to defer one or two monthly payments.

Mercedes-Benz/Daimler Truck

Mercedes-Benz Financial Services and Daimler Truck Financial will offer extensions and deferred payments, redirected billing statements and no-cost phone payments.

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