Buick Coronavirus Financial Relief and New Car Incentives

When you think about popular American car brands, Buick may not be the first name that comes to mind. However, though the automaker is not a high-volume brand in the United States, it serves a surprisingly important role in the global auto-industry; particularly for its parent company, General Motors.

Buick Coronavirus Financial Relief and New Car Incentives

For example, Buick vehicles are incredibly popular In China. Simply taking into account the sheer size of China’s auto market is a more than adequate reason for GM to continue investing in Buick, and to also continue introducing new vehicle models. However, Buick’s strong ties with China created some complications when the Coronavirus pandemic swept through the country, and eventually the rest of the world.

In response to the ongoing battle against the Coronavirus, Buick, and its parent company GM, have created several new relief options and initiatives in an effort to provide financial assistance to those affected by the virus. The company has also taken it upon itself to provide assistance on the frontlines by manufacturing personal protective equipment (PPE) for medical workers like doctors and nurses. Buick is one of many automakers to participate in some form of Coronavirus car payment plans, the summary of which can be found below.

Buick Customer Relief Programs

Knowing that many of its customers may be facing financial hardship due to the COVID-19 outbreak, Buick is extending an offer to waive certain types of late fees on loans for both owners and lessees. This offer is being made available to customers who financed their vehicle loan through GM Financial (GMF), and has been extended to run through May 31st. Customers do not need to contact GMF directly to utilize this option, as these fees will be automatically waived by the company.

Additionally, Buick customers who financed their vehicle through GMF have the option to request a payment deferral to help ease the financial burden many Americans are currently facing. Buick is also offering existing lease customers an automatic one-month extension for individuals on the verge of concluding their lease term.

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Buick New Car Incentives

Buick’s parent company GM, extended offers through a majority of its brands a special 0% APR financing offer for up to 84 months on select Buick models. This offer applies to many 2020 Buick SUV models, however, it is limited to well-qualified buyers, according to the auto brand. Offers are also being extended on the best-selling Buick Regal, including 0% APR financing for up to 72 months. Prospective buyers can also take advantage of a $5,500 rebate being extended by the company. The stylish, all-new Buick Encore GX currently has a $1,500 cash rebate being offered to qualified individuals.

Prospective Buick customers also have the option to defer their monthly payments for up to 120 days when purchased by May 31st. This offer is currently unavailable on leases.

As a token of appreciation to the many healthcare professionals working the frontlines in the fight against the Coronavirus, GM is extending offers on special vehicle discounts for first responders, currently available through June 30th. Individuals who meet this criteria are urged to contact their local Buick retailer to discuss their specific discounts and purchase price.

General Motors “Shop. Click. Drive.” program also allows customers to shop for their vehicle virtually and arrange the purchase of their new Buick completely online. Select dealers can even arrange to have the vehicle delivered to your home, providing end to end service on your new Buick purchase.

Buick Factory Closures

To date, all of GM North America’s manufacturing operations, which include those that build Buick vehicles and parts, remain shuttered until further notice. While the shutdown was initially slated to end on March 30th, national shelter-in-place orders forced the auto brand to extend its own shutdowns in an effort to continue supporting the fight against the Coronavirus.

Many automakers have announced their initial plans to resume production later in the month, as the country begins to enter Phase 2 of the “re-opening process” that reduced capacity operations at some facilities in North America. To date, GM has yet to offer any hint at when they plan to resume production at their North American facilities.

Buick Economic Outlook & Sales Forecast

At one time, Buick was viewed in the eyes of many as the ‘old-timers’ brand under the GM family of brands. Over the years, Buick has undergone a transformation of sorts, steadily growing from a standard passenger-car brand to currently marketing its line of SUVs all but exclusively, putting its large vehicle line at the forefront of its branding efforts.

All the progression aside, Buick’s first-quarter sales in 2020 left much to be desired, falling over 35%. The brand’s top-selling vehicle line, the Buick Encore subcompact SUV, plummeted 42% in its own right. But with motor vehicles essentially deemed a commodity, and historically prone to rebound from short-term setbacks, Buick is in a good position to recover from the fallout caused by the Coronavirus. This is particularly noteworthy because of the brand’s popularity in China, and what some would argue to be an equal popularity of SUVs in North America.

J.D. Power released a statement regarding its 2020 outlook of 16.8 million U.S. light-vehicle sales, an outlook that was calculated before the globe was ground to a halt because of COVID-19. Due to the substantial strain the virus has put on the entire economy, it is no longer feasible to realistically attain these figures. J.D. Power expects sales to likely fall in the range of 14 to 16 million units due to the growing recovery efforts ahead due to the Coronavirus.