Posted by Ellen Krafve - email
All this uncertainty in the job market has led to a car dealer come up with a new promotion. If you buy a new Hyundai, they will let you return your vehicle, if you lose your job. There are some stipulations but Hyundai is hoping this extra assurance will pay off.
[cg in 0:49 to 0:53:2 line superhyundai assurance programjim yates, gmallen samuels dodge/hyundai] [cg in 1:06 to 1:10:2 line superhyundai assurance programjoel ewanickhyundai vp of marketing]
Their new ad says it all. Buy any new Hyundai and if you should lose your income, no pressure, simply return it.
Allen Samuels in Tyler says the assurance program is good for 12 months with the purchase of any new Hyundai this year.
"It's something that they felt like would give a little extra boost, a little extra confidence to the consumer," said Jim Yates, with the Hyundai Assurance Program.
Of course there are some regulations: the program covers up to 75-hundred dollars in negative equity. Customers would still pay any outstanding balance. Buyers must also have made at least two payments on their new car, but Hyundai is the first automaker to offer this type of incentive. They are hoping to drive-out buyers during an economic recession.
"People are just hesitating and I think this is maybe something that might give them a little encouragement to go ahead and make that purchase," explained Yates.
The program is good for the first year after purchase, and remember, the dealer does need to re-sell the car, after refunding you.
"You can't abuse the car, if it has excessive mileage on it that will count against the car," said Joel Ewanick, the VP of Marketing for Hyundai. "If you've done something egregious to the car yeah it's going to count against the car but the average consumer takes care of their car and they put an average amount of miles on it, this is built for that kind of an average customer."
A new year, with new incentives being used in hopes of bringing sales back up after a sluggish 2008.