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Posted at 01:03 PM ET, 10/15/2013

Toyota Offers Payment Relief for Furloughed Federal Workers


(Cars.com)

Another automaker has pledged assistance to customers directly impacted by the prolonged shutdown of the federal government — now entering its third week with 800,000 workers furloughed and 1.3 million more still active but potentially not receiving a paycheck anytime soon. Toyota announced Monday it is offering payment relief to owners who finance their vehicles through the automaker.

The offer extends to any Toyota or Lexus customer "financially burdened by the government shutdown, including furloughed workers, businesses and employees of businesses directly affected by the shutdown, government contractors, and suppliers," the automaker stated. Customers whose accounts are in good standing with Toyota Financial Services or Lexus Financial Services may be able to defer up to three months of payments.

Toyota isn't the first to cut furloughed federal workers some slack during the shutdown. A day after the shutdown started, Hyundai announced that it had expanded its Assurance program to include loan-payment deferral for laid-off federal workers. The automaker will extend loan and lease payments for the duration of the shutdown for owners directly impacted, as well as defer payments for 90 days for those who wish to purchase a vehicle during the shutdown.

Hyundai's Assurance program originally was launched in the early weeks of the 2009 recession for customers experiencing an "unexpected loss of income." Similar offers from GM and Ford followed.

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By Cars.com  |  01:03 PM ET, 10/15/2013

 
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