Hyundai will take your car back!
Now here’s something tangible. Buy a new Hyundai and if you lose your job within a year they’ll take it back.
“In this uncertain economy, we are looking for ways to reassure shoppers that Hyundai still represents the best value in the auto industry,” said John Krafcik, president and chief executive of Hyundai Motor America, the U.S. arm of the South Korea-based automaker, in a company statement.
“If you find that you cannot make your payment because of a covered life changing event, we’ll allow you to return your vehicle and walk away from your loan obligation – and in most cases we will cover most, if not all of the difference,” the carmakers Web site says.
You can read the full story here.
I like it, what do you think?
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January 6th, 2009 at 3:37 am
I like it too. Hyundai has a stigma of being not cool, but they have really built up a brand association of really good value.
I feel bad for the people who took up Chrysler on their gas price guarantee of $2.99. Hopefully this offer works out better for consumers.
January 7th, 2009 at 5:25 pm
It may be cliche`, but putting your brand and your money on the line is the best commitment a company can make for a brand. However, this bit of PR from Hyundai will probably reward them for customer service.
Especially competitive for them since GMAC could be sitting on millions of assets; could be turned into debts if they aren’t careful enough with their customers.
~Joe
January 9th, 2009 at 4:35 pm
I like the idea a lot, but I’m not sure how effective it will be. Apparently, there are more cars being sent to the scrap heap than new cars being sold…I think that tells us a lot more about the economy and gas prices than anything else. If people are that worried about losing their jobs, are they really going to buy a new car? I think this might work a lot better when times are good, because then losing your job would be a surprise, but since today’s numbers show a 7.2% unemployment rate, for a lot of us, it isn’t if but when.
January 20th, 2009 at 12:24 pm
I can picture their commercial right now…..a young family all excited about their new Hyundai at the dealership, shaking hands with the friendly salesman. Then a scene where the father gets pink slipped at work, and the family (really depressed) jumping in their new car and dropping off the keys. Hmmmm….I’m not sure this new program is going to benefit Hyundai’s brand.