Statement by American Honda Motor Co., Inc. Regarding Customer and Dealer Support Related to COVID-19

During this fast-changing health crisis, the safety and wellbeing of our customers, dealers and associates remains our top priority at American Honda (AHM). We also understand that this ongoing situation may create unexpected financial burdens for some of our customers and dealers. We have been monitoring the impact of the COVID-19 pandemic very closely and today are announcing a series of proactive steps to help reduce any hardships or disruption in service to our customers and automobile dealers in the United States. 

American Honda initiated the following actions today:

Automobile Customer & Market Support:

  • Existing Acura and Honda Financial Services (AFS/HFS) Account Holders Hardship: Payment extensions and deferrals of up to 60 days, as well as late fee waivers to those impacted by COVID-19
  • Loyalty Purchase Assistance Cash: $500 towards the purchase or lease of a new Acura model and $1,000 toward the purchase or lease of a new Honda model (certain exclusions apply)
  • Certified Pre-owned Special APRs:
    • Acura: TLX, RDX from April 1, 2020 to June 1, 2020
    • Honda: Civic, Accord and CR-V from April 17, 2020 to June 1, 2020
  • Acura and Honda 90 Days to First Payment Program: 90-Day Deferred Payment on all new vehicle sales financed by AFS/HFS for clients Tiers 1-8 (IGS Tiers 9-14 not eligible). Retail only. Not available in the State of Florida.

Automobile Dealer Support:

  • Sales Consultant Incentive Bonuses: Linked to retail sales of certain Acura and Honda models through April 30.
  • Certified Pre-Owned Dealer Support
  • 40% certification fee reduction from March 20, 2020 until April 30, 2020
  • Auto Commercial Loans: AFS/HFS will defer principal payments on mortgages and term loans for dealers in good standing for up to 90 days.  Monthly principal payments added to the loan balance.
  • Auto New & Used Floorplan:
  • AFS/HFS will defer Floorplan interest payments for dealers in good standing for 90 days, effective with the April 2020 statement.
  • AFS/HFS will suspend curtailment payments for dealers in good standing for 90 days, effective with the April 2020 statement.
  • AHM will provide an additional ½% floor plan reimbursement on Honda vehicles invoiced from March 20, 2020 through April 30, 2020.
  • Acura and Honda Courtesy Car Program (ACCP/HCCP) Curtailments: AFS/HFS will suspend curtailment payments for dealers in good standing for 90 days, effective with April 2020 statements.

Customers Needing Assistance:

Start with an Authorized Dealer:

While certain dealers may necessarily make temporary changes to their schedules and services during this period, most authorized Acura and Honda dealers are open for business and ready to support customers’ sales, service and parts needs.

Acura and Honda Financial Services:

AFS/HFS account holders with general account questions are encouraged to take advantage of online self-service capabilities for routine payment and account management functions (acurafinancialservices.com/account-management or hondafinancialservices.com/account-management).

For those account holders who need extra assistance due to the COVID-19 situation, AFS/HFS representatives are trained and able to assist. These customers should contact their regional service center for individualized help (acurafinancialservices.com/contact-us or hondafinancialservices.com/contact-us). Due to this unprecedented situation, our centers are experiencing unusually high call volume. We thank our customers for their patience.

American Honda Customer Service:

For general support with Acura or Honda automobile products, customers may also contact us directly.

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