Carmakers have jumped into action quickly to aid those hit by the recent Oklahoma tornadoes , making donations to numerous nonprofits and offering assistance to their customers directly affected by the tragedy.
Automakers, including Chrysler, Ford, General Motors, Honda, Mazda, Toyota and Volkswagen, have made cash donations, with Ford making the largest contribution of $400,000 as well as pledging to match up to $250,000 in employee and public donations made through the Ford Motor Co. online donation page set up on the American Red Cross website. Toyota, which donated $250,000, also said it would match employee donations.
In addition, Ford Credit, Lincoln Automotive and Mazda Capital Services have said they will offer payment extensions to tornado victims, allowing them to delay or defer car payments. Ford is also offering $500 toward the purchase of a new car to victims who lost their cars as a result of the tornadoes While these are the only automakers to make specific offers publicly, affected people should reach out to any creditors quickly if they are facing financial challenges. Missing just one car payment can affect credit scores, which could cause further financial implications for consumers who need to get a new car loan or other type of loan.
Tara Baukus Mello writes the cars blog as well as the weekly Driving for Dollars column, providing both practical financial advice for consumers as well as insight into the latest developments in the automotive world. Follow her on Facebook here or on Twitter @SheDrives.