To support independent dealers as they work through the economic impact of COVID-19, Automotive Finance Corporation introduced its customer-relief program to customers on March 24.

On Tuesday, AFC said more than 10,000 customers have taken advantage of the program. AFC, a business unit of global vehicle remarketing and technology solutions provider KAR Global, has deferred more than 117,000 payments in the first month of the program, totaling more than $84 million.

AFC launched the customer relief program to help dealers that saw business challenges as a result of the COVID-19 economic downtown.

The company said that as consumer demand for retail used vehicles has declined, that has extended the length of time that floor-planned vehicles remain on dealership lots.

Because of that, AFC has extended its payment terms and provided an option for eligible customers to make no payments on any new or existing unsold eligible vehicles through May 31.

AFC said it has seen appreciation from customers regarding its quick response and support through the tough times. One of those customers is George Bechara, who owns Sky Leasing and Rental in San Antonio.

“AFC’s Customer Relief Program came right on time to help lower payments when business income went down,” Bechara said in a news release.

Bechara continued, “This program is a big deal and is helping us keep our doors open for business.”

AFC President Jim Money described dealers as “the small businesses that make up the backbone of our economy” and said those dealers need support and compassion more now than ever.

“Without consumers visiting lots, dealers are especially susceptible to economic hardship,” Money said in a news release.

Money continued, “We view every dealer relationship as a long-term partnership, so we’re committed to doing what we can to help them through the short-term challenges they’re experiencing right now.”

To ensure customers’ challenges are heard, understood and considered, AFC’s local branch teams have actively communicated with their customer base throughout the pandemic.

“We care about the wellbeing of our customers, their business and their livelihood,” Money said.

Money continued, “Our local teams understand the regional market conditions and check-in regularly to ask how we can help. Though we miss the personal interaction, this crisis has only reinforced our commitment and dedication to our customers.”

AFC launched a dedicated COVID-19 webpage and phone line as an additional resource for dealers. Those resources provide information about government and community programs, such as those for available loans and wage subsidies. AFC offers a site for relief program details and resources.

The company said it “remains dedicated from a distance,” but encourages customers to temporarily conduct all regular transactions on AFCDealer.com or the AFC On the Go mobile app. AFC says that with its online services, customers can access services including making payments, flooring units and viewing inventory management reports.