Even more purchase incentives, payment deferrals and return guarantees on the horizon

Pandemic Vehicle Purchase Incentives

It’s nearing the end of the year and many vehicle buyers do not realize that there are combined incentives to purchase.  Earlier this year we released a list of vehicle purchase incentives based on COVID but now that the year is almost over, dealerships everywhere are purging inventory to make room on their lots.   From a personal finance perspective December is the best month to buy a vehicle and adding in available COVID incentives there is unbeatable value. 

The coronavirus pandemic has left many consumers wondering if price reductions are available on new vehicle purchases.  In this article we look at how automakers stack up on both sides of the border, in their efforts to attract or retain business.  While the U.S. has well defined programs available, it seems that Canada has been left in the dark with the exception of payment deferrals which appear across the board.  We examine the vehicle purchase special offers in this article.  In any event, notifying your dealership of choice that purchase incentives are available at the corporate level may help to massage a better deal, no matter where you reside.

What is the Ford promise?

The Ford Promise is a television and online marketing campaign aimed at buyers looking for a new, used or CPO vehicle in the United States only.  If the buyer experiences involuntary job loss within one year, the vehicle can be returned there are terms and conditions to this which are answered in an FAQ.  This program which covers up to $15K is not currently available in Canada but there are incentives for 2020 model year vehicles currently.  Notifying your Ford dealer of programs available in the United States may add leverage in negotiations.

covid truck purchase offer

How does the Ford promise compare with Chevy cares?

Chevy cares appears to be more focused on hygiene practices, discounts for military service members and payment deferral.  There is not a vehicle return guarantee with this program. In Canada, Chevrolet’s parent company General Motors has a here to help  campaign with discounts for healthcare workers, hygiene practices and employee discounts but the most notable offer is no payments for 180 days.  While the U.S. version of here to help does not appear to offer no payments for 180 days they do offer employee pricing and healthcare worker discounts.

Do any import auto manufacturers have COVID incentive programs?

Nowadays, having the best pandemic related response and incentive program is crucial to success.  The key would be going beyond flattening the curve with special offers that stand out.  Here is a list of COVID response and incentive programs for U.S. customers which is easy to navigate for comparison purposes: Toyota USA  Honda USA  Nissan USA  Mazda USA



What about Canadian COVID special offers?

What are the best COVID vehicle offers in Canada?

From the list above, we can see that Kia has the most attractive offer with payments made for up to 6 months, this is not just a payment deferral like other automakers have listed.  GM Canada is offering a 6 month payment deferral alongside Kia and this seems to be the most attractive.  We would expect that other automakers would want to match any payment deferral so speaking directly with your dealer could make a deal that is not advertised. 


Almost every auto finance department will be offering 0% interest for various models in their lineup as the pandemic rages on.  These would be the deals to seek out and take to your dealership in purchase negotiation. We encourage you to read the fine print as there are many terms and conditions before contacting your selected dealership.

Is it too much to ask for a return guarantee if I lose my job within a year?

No, you can ask any auto dealer for this type of arrangement in the negotiations.  If you are drawn to Ford because of their return guarantee, mention this to your salesperson and usually they will want to match it to gain your business.   Nothing that is in the purchase agreement can be honoured though so be diligent in your review before signing.

COVID car deals

How can I save the most amount of money on a vehicle purchase?

  • Ask for cash price
  • Ask for cash price minus discounts and incentives located from links above
  • Ask if current model year demo is available and get cash price
  • Walk away to ponder
  • After a weekend contact the salesperson
  • Ask about financing rates at this point if you desire to finance

Finally, read our article outlining questions to ask when purchasing a vehicle to protect your investment.

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