Jaguar Land Rover Coronavirus Financial Relief and New Car Incentives

While the world is seemingly taking it day-by-day as we collectively combat the Coronavirus pandemic, significant and sustained damage has been inflicted upon the global economy. As is typically the case during times of personal and financial crisis, consumers first scale back non-essential items and big-ticket purchases. This usually includes things purchasing a home, for instance. But it also typically includes vehicle purchases; particularly those that are expensive and more opulent in nature.

Jaguar Land Rover Coronavirus Financial Relief and New Car Incentives

Jaguar Land Rover (JLR) is one of many organizations that is encountering challenges, as the fight against COVID-19 continues. The British luxury brand was on the heels of its best year yet, selling 125,787 vehicles in the United States in 2019. These sales figures represented all-time highs for the company following a record-setting year in 2018. But the Coronavirus has demolished an otherwise thriving U.S. economy and brought showroom traffic for the auto industry to a relative standstill.

In an effort to help ease the economic burden that faces many Americans in the face of the Coronavirus pandemic, Jaguar Land Rover has announced a number of Coronavirus car payment plans and programs to assist consumers in purchasing leasing a new Jaguar or Land Rover. However, the brand remains aware of the severity of the situation at hand, and also is invested in providing financial assistance to current customers who are experiencing hardship as a result of COVID-19.

Jaguar Land Rover Customer Relief Programs - Find the best deals!

JLR is aware of the struggles many of its vehicle owners are facing in the midst of this crisis. So the auto brand is extending an offer to its existing customers who financed or leased through Jaguar Land Rover Financial Group (JLRFG). The offer gives current customers additional time and flexibility with their monthly payments. This program is set to run through April and May, with lease extensions for up to six months being offered to current customers nearing the end of their lease terms. This extension is being offered without request, so there’s no need to contact the company. Customers will receive a letter or email directly from the finance company that details the information regarding the program.

In addition to these relief efforts, JLR is also offering returning lessees who finance their vehicle through JLRFG a lease payment waiver. This waiver allows eligible returning lessees to waive up to 2 payments of up to $750 each. All 2020 Jaguar models including the 2021 F-Type, as well as a number of 2020 Land Rover models, qualify for the waiver program. This includes the Discovery, Discovery Sport, Range Rover, Range Rover Evoque, and Range Rover Velar. It should be noted that this waiver offer is currently available to well-qualified lessees. 

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Jaguar Land Rover New Car Incentives - Find the best deals!

While reeling from the impact of COVID-19 like many of its contemporaries, JLR has taken it upon itself to announce a number of new-vehicle incentives for both the Jaguar and Land Rover brands. JLR is offering 0% APR financing for up to 72 months on all 2020 Jaguar and Land Rover vehicle models. Much like the aforementioned relief programs, this offer is also being extended on the 2021 Jaguar F-Type, and this promotion is currently set to run through June 30th.

JLR is also offering qualified new lessees a 90-day first-payment deferral when they finance through JLRFG. Much like the 0% APR financing offer, this 90-day payment deferral program is available to customers who purchase any 2020 Jaguar or Land Rover model, including the 2021 Jaguar F-Type.

Aware that safety is the top priority at the moment, JLR retailers want consumers to know they are well-prepared to handle the entire purchase process remotely, in hopes of easing the fears some customers while also engaging in proper social distancing practices. Many dealers offering delivery of new vehicles to customers’ homes to make the purchase process as simple and seamless as possible.

Jaguar Land Rover Factory Closures - Find the best deals!

As of the first week of April, JLR confirmed it had temporarily suspended production at its U.K. facilities. The automaker stated that it has furloughed roughly half of its workforce under the UK government's Job Retention Scheme, adding that the organization’s top-level executives also agreed to temporary pay cuts. 

The company has tentatively set a date of May 18th to begin slowly resuming operations at the brand’s Solihull plant in the U.K., which employs roughly 9,000 workers and produces the brand’s Range Rover models. The plan is to reopen with only a quarter of its usual workforce to start, doing the same at the company’s SUV plants in Austria and Slovakia.

Thus far, JLR has opted to keep its facilities in India and Brazil running and producing new vehicles during the Coronavirus pandemic. The company doesn’t currently operate any manufacturing facilities in the United States.

Jaguar Land Rover Economic Outlook & Sales Forecast - Find the best deals!

The Coronavirus has torn at the very fabric of the global economy, and JLR has been feeling those effects as much as any brand. The company reported its sales for the first three months of 2020 had declined by 30.9% compared to the same period last year. To no surprise, this is in large part due to the fallout caused by the Coronavirus lockdown. JLR has yet to comment on its outlook on sales for the remainder of the calendar year.

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.