Acura Coronavirus Financial Relief and New Car Incentives

The damaging effects of the novel Coronavirus have been nearly unfathomable, creating a health crisis and economic fallout no one could have anticipated. Acura is one of the many auto brands that is responding to the pandemic by implementing numerous programs for current owners and lessees. The automaker is also offering new customers a number of payment deferral options and extending special offers to first responders and healthcare workers on the front lines of this global crisis.

Acura Coronavirus Financial Relief and New Car Incentives

National efforts from citizens around the country to help prevent the spread of COVID-19 are showing signs of hope, indications that our efforts are beginning to produce results. However, the disruption this virus has caused on both the economy and society as a whole has already created substantial uncertainty for millions around the globe.

Acura adds its name to an expanding list of automotive brands offering assistance to its prospective and existing customers through a variety of Coronavirus payment plans and programs. The following summarizes the relief efforts Acura and its credit company, Acura Financial Services (AFS), is offering to its customers affected by the Coronavirus and its impact on the auto brand directly.

Acura Customer Relief Programs - Find the best deals!

In the wake of the growing threat and negative impact the Coronavirus has had on consumers, Acura is offering multiple avenues of financial assistance to its existing customers who find themselves in financial hardship as a result of COVID-19.

Acura owners who financed their vehicle purchase or lease through AFS, who are now experiencing hardships financially because of the Coronavirus, are encouraged to manage their account by visiting Customers can find details regarding payment extensions, payment deferrals, and late payment fee waivers directly through the web address listed above. Customers are still encouraged to contact AFS directly to confirm their individual eligibility and potential options.

Acura is also aware that many of its customers who own one of its vehicles may not have financed their vehicle with AFS. Those individuals who find themselves in need of extra assistance as a result of the Coronavirus are encouraged to find their regional service center in order to receive personal attention and specific options available in their area. Customers also have the option to reach out to Acura Client Relations at 1-800-382-2238 or directly on their website.

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Acura New Car Incentives - Find the best deals!

While it is imperative for brands to remain sensitive to the nature of the situation at hand, Acura is also being mindful to the consumers who are in need of a new vehicle despite the national crisis at hand. In turn, Acura is offering a new 90-day deferred payment plan option to well-qualified customers who choose to finance their vehicle through AFS. However, customers should keep in mind that interest will still continue to accrue during the 90 day deferment period.

Acura is also rewarding their current AFS customers shopping who may be shopping for a new vehicle by offering a $500 loyalty purchase assistance cash payment. This cash payment assistance can be used towards the purchase or lease of a new Acura model, though certain exclusions apply.

The automaker is offering additional incentives as well, including special loan rates on certified pre-owned vehicles. Applicable models include the TLX sedan and RDX compact SUV. This offer is available between April 1 to June 1, 2020.

Acura also wants to reward our nation’s healthcare workers, who have been relentlessly combating this virus on the front lines. In lieu of their tireless efforts, the automaker announced a special $500 discount for First Responder and Healthcare Professionals on new vehicle purchases financed or leased through AFS. Qualified potential customers are advised to contact AFS or visit their website for more details and eligibility requirements.

Acura Factory Closures - Find the best deals!

In a move that some may say was the brand seeing the writing on the wall, Honda, Acura’s parent company, became one of the first auto brands to suspend production at its North American plants, putting a stall on all production activities on March 18th.

The initial closure was slated to last for six days in what Acura said was an anticipation of a decrease in demand. But with shelter-in-place orders being extended through May 1st in the U.S., Acura announced that their facilities would remain closed until further notice, with the company further evaluating the situation as it continues to evolve.

All of Acura’s automotive products, excluding the RLX, are produced in the United States. The company has two large assembly plants in Ohio, one in Marysville and the other in East Liberty.

In addition to the company’s factory closures, nearly all Acura dealerships are also closed, with a couple exceptions contingent upon state and local shelter-in-place orders and other various regulatory factors. However, many service and repair centers are still continuing to operate. Customers are encouraged to call their local dealer to confirm any current or future appointments, including vehicle services.

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

While likely no surprise to Acura considering the economic state of the country, the company reported on their March sales sales figures on April 1st. Acura said it suffered a staggering 51.2% decline in year-over-year sales and a discouraging 21.6% decline in total first quarter sales compared to 2019. The decline wasn’t isolated to any particular segment, and the drop was attributed to be exactly the same for cars and SUVs across the board.

With so many market uncertainties both occurring in real time and likely on the horizon, sales outlook’s for nearly every business will likely depend on the way consumers react to the virus as the pandemic evolves, and the potential legal restrictions that dealership sales operations may face moving forward in the short term.

In response to COVID-19, J.D. Power revised its sales numbers from its pre-virus estimate of 16.8 million units, decreasing its projections down to 12.1-14.8 million units for 2020. Though an undercurrent of anxiety looms over the economic future of both individuals and businesses alike, there is reason to be optimistic; especially if you are an automaker.

Automobiles have long been considered durable goods in the market, and durable goods have historically proven their ability time and time again to recuperate sales losses that occurred as a result of short-term market disruptions. While the extent and duration of the recovery will be directly tied to overall economic health of our nation following the pandemic, the auto industry may be one of the most proven industries at rebounding from a profound disruption to its business.

J.D. Power also stated that its 2020 outlook of 16.8 million U.S. light-vehicle sales - an outlook projected before the globe was ravaged by the Coronavirus - is all but impossible to attain under the current circumstances. J.D.Power expects that sales will likely fall in the range of 14 to 16 million units as a result of the fallout from the novel Coronavirus.