Hyundai’s Assurance program was launched this month to help boost sales by giving buyers peace of mind. If you buy or lease a new Hyundai and lose your income, Hyundai will take the car back. Initially, the Assurance program covered just the first year of ownership. Because the program has been so popular, Hyundai has added a new option for buyers. If you want, you can purchase an extra two or three years of coverage under the Hyundai Assurance program.
“We found right away that people knew we were projecting hope,” Joel Ewanick, Hyundai’s vice president-marketing told Ward’s Auto. “The assurance program resonates with all demographic groups. It touches everybody.”
There are some limitations on the program.
“This program is designed for people with decent jobs with good credit histories,” Ewanick said. “If you can get financed, you can qualify.”
Sounds pretty fair to us. If you don’t qualify for a new car loan in the first place, you won’t have to worry about missing payments on it.
We’ve been hearing that the main reason car sales have been so poor over the last few months is that consumers are concerned about job security. With news of more layoffs coming every day, people are hesitant to take out a car loan out of fear that they might be next on the chopping block. Hyundai’s Assurance program is the perfect answer for people who need a new car but are insecure about their jobs.