Automakers slash rates, offer deals to sell new cars amid coronavirus slowdown

Automakers across the U.S. are slashing interest rates, assisting with payments, and offering other incentives to buyers and owners as shoppers largely hunker down during the typically busy spring season.

Although it’s unclear how a prolonged outbreak may impact owners and shoppers, several automakers have offered assistance for up to six months to ease any potential burdens.

Major lenders such as Wells Fargo and Ally Financial have pledged similar assistance, according to Automotive News. Last week, the Federal Reserve cut its key interest rate to zero or near-zero to spur lending to consumers.