I mean it’s worth a shot right?
I’m a restaurant owner who is now no-longer allowed to operate my restaurant. I can float for a while as my financials were in good order prior to all this but when your income literally goes to zero almost overnight there’s only so far even a great emergency fund and planning can take you.
You don’t need to lobby or petition or sue or any of those other things. Call them up and ask. Very simple.
I guarantee most Banks are working on a plan right now.
I talked to Audi, they are currently offering a 2-month extension, with the possibility of longer if things don’t return to normal.
I’m not exactly sure how this will all shake out in terms of mileage or other end-of-lease issues.
Best advice. 1) it will depend on your leasing company- call and ask them!!
That isn’t especially helpful to anyone else here
2 month deferred payments? In which case you still owe the payments but you can make (for instance) the April payment in June, and when you turn in on-time you still owe two payments?
In which case I assume no additional miles??
So if anyone CALLS and ASKS their leasing company FIRST before a payment is late, the questions might be:
My favorite saying is - if you miss a payment, it’s your problem.
If 10,000 people miss a payment, it’s the banks problem.
I wouldn’t be worried about it for now - all of the lenders are going to come out with an assistance program of some kind.
I agree. We are going to see some big time govt assistance to power through this slowdown.
You get a bailout, you get a bailout, everybody gets a bailout
How…on earth would you know that?
Not deferred exactly…basically your lease is being extended two months but you don’t pay for the current next two months.
Unfortunately at least for now they aren’t giving us additional miles to cover those months.
I thought restaurants can still operate on delivery/take out basis.
A very smart restaurant group in my area just sent an email out offering discounted gift cards and all sorts of free delivery promos, free catering delivery etc
Hyundai and Genesis program for NEW lessors
wow, that’s 2 months free!!!
A very smart restaurant group in my area closed all their restaurants as of 5PM today. I also received an email.
Curious to know, is this something a consumer is automatically covered by (like GAP) or is this one of those programs that the finance guy is gonna push to add with a 200% markup for his boat fund?
I haven’t paid off my student loans for exactly this reason. We are never rewarded in America for personal responsibility. Government sets a terrible example.
I recommend everyone puts pressure on the banks to cover some payments. They will be getting bailed out anyway. At least some of that money can go directly back to the consumer.
You don’t pay off your student loans because the government bails out big business?
Jim, I agree with you on many things, but I cannot here. It’s not personal.
I’m going to continue to do what I believe is the right thing and pay my bills/not put pressure on anyone to forgive anything. I’m not buying in to this, “stick it to the man,” ideology.
If money is going directly back to consumers, I’d prefer it go to folks who are about to approach a massive struggle ahead. If lenders are going to forgive payments, I’d rather it be for those who truly need it.
We’re lucky enough to be able to make money behind our keyboards and phones while others don’t have the opportunity to work from home, are entirely commission based (our dealer sales reps as an example), or depend on foot traffic to keep their business afloat. It’s not right to make a suggestion like that when not in need.
Guys if you can pay it, it is your duty to pay. Let these programs help the ones that truly need it. Without us paying many of these programs cannot be offered. Also, any bailout is still coming of our taxes or future generations. Also, try to help elderly neighbors if you can.
