Genesis Car Payment Relief

Lenders and Auto Loan Relief Programs

The COVID-19 pandemic is hitting hard in many ways. Even if you have not fallen ill with COVID-19, you may be feeling the harsh financial blow related to job loss, a stay-at-home order, or other situations. Many people are struggling to make the auto-payment on their Genesis at this time. Like many other auto lenders, Genesis Finance is providing relief to qualified customers.

Genesis Finance

Genesis Finance offers financial relief for those who already have a car loan, as well as for those who have recently purchased their Genesis with a loan. Through Genesis Finance, qualified current customers may request a loan deferral for up to 90 days. This is specifically available to those who are dealing with health-related hardship or who have lost their job because of the pandemic. Be aware that this relief is available only to customers who have been affected by COVID-19 before April 30, 2020. For customers who use a loan or a lease to take home a new Genesis between March 14 and April 30 this year, Genesis Finance may make your payment for up to six months if you lose your job.

End of Lease Options

There are a few options available to Genesis drivers whose auto lease term's end date is quickly approaching. As always, you can contact your local Hyundai dealership to make arrangements for vehicle surrender. If you intend to stay in your Genesis and are not currently in a position to buy the vehicle with a loan or with cash, you may request a lease extension for the next few months or monthly.

Loan Deferment FAQs

What is a Genesis Loan Deferment?

With a loan deferment through Genesis Finance, you will not be required to make your regular monthly auto payment for the next three months. These payments are not forgiven or waived. Instead, you will make the payments through a 3-month extension on your loan term. Interest charges will apply during the loan extension period.

How Will a Genesis Loan Deferment Impact My Credit Score?

By making arrangements for a loan deferment through Genesis Finance ahead of time, your credit rating will not be dinged for the three skipped payments. However, if you miss payments without an approved deferment plan in place, this may be reported as a negative activity on your credit report.

How Do I Request a Genesis Loan Deferment?

Requesting a loan deferment begins with a call to the Genesis Finance customer service department. Before your request can be approved, you must submit documentation showing that you are currently receiving unemployment insurance. Genesis Finance will not accept your deferment request if you are more than 90 days late on your car loan payments when you apply.