[Tufast]

Filed under: Car Buying, Hyundai, Carsumer Advocacy
If you need a new car but your job at the First National Bank of the City Federal isn't exactly guaranteed, Hyundai has an offer just for you.

The Hyundai Assurance Program gives buyers some peace of mind that if they lose their jobs during their first year of ownership, they won't have to pay back the full amount owed on their cars. Hyundai is teaming up with Walkaway USA to provide the 12 months of protection at no extra charge to buyers.

There are plenty of catches, though. Hyundai buyers must have made at least two payments on their new cars, be current on said payments, and their reasons for unemployment must fall under a list of common causes. The plan also only covers $7,500 worth of depreciation. In other words, if you beat the hell out of your Hyundai and your car's now worth $7,500 less than what you paid for it, you gotta come up with the rest. There's also probably a clause somewhere in there somewhere that also sticks the buyer for tag, title, taxes, fees, etc. etc.

Otherwise, drive your new Genesis for 11 months, re-enact Jack's Smirking Revenge from Fight Club and take the car back.

[Source: The Auto Channel]Keep the receipt: Hyundai buyers can take back the car if laid off originally appeared on Autoblog on Sun, 04 Jan 2009

 

[Lord_Nikon]

This is so American.

 

[dboz1]

I actually saw a TV commercial with this last night during an NFL game. It said we are in this together (the economy). I don't remember them detailing it but I wasn't really paying attention.

 

[Lord Calvert]

Thats interesting. Wonder how it will pan out.

 

[Hyundai Guy]

Here's how the Hyundai Assurance Plan works:

---------------------

Hyundai Assurance is the first and only automotive manufacturer vehicle return
program. It lets customers return their vehicle in case of certain life altering
circumstances.


Program details

* Available on all new Hyundai vehicles.
* Available to everyone regardless of age, health, employment record, amount financed.
* 12 months complimentary on every new Hyundai vehicle loan or lease.
* Covers up to $7500 in negative equity.
* Coverage in case of: Involuntary Unemployment, Physical Disability, Loss of Driver’s License due to Medical Impairment, International Employment Transfer, Self-Employed Personal Bankruptcy, Accidental Death