How about: if you can’t afford it or you think that your job may be in jeopardy, then don’t buy a new car. People buying shit they can’t afford is half the reason were in this.
I still think the most entertaining marketing ploy was the $2.99 gas when you bought a new car. :lol:
Sounded good when you were paying $4.50 a gallon but if you looked at it, you gave up any incentives or cash back on the car itself on top of the fact that gas is cheaper now.
^ I think it’s comical too. I don’t get what the people that were signing up were thinking, if gas price is an issue get a fuel efficient car/cheap car.
Doesn’t qualify for assurance if: Involuntary unemployment, physical disability, loss of driver’s license due to medical impairment, international employment transfer, self-employed personal bankruptcy, or accidental death are the cause to your job loss. Secondly, you must have a 740+ credit score, be less than $7500 upside down on the current vehicle. (Here’s a hint, everyone that owns a Hyundai is atleast $5,000 upside down the minute they drive off the lot.)
Involuntary unemployment, physical disability, loss of driver’s license due to medical impairment, international employment transfer, self-employed personal bankruptcy, or accidental death are the cause to your job loss
These all do qualify for the assurance, and yes Hyundai is aware of the depreciation of their vehicles that is why there is a $7500 cushion…
And where do you get the 740+ credit score stipulation?
Hyundai Assurance:
We cover a range of life changing events to protect you.
Every new Hyundai comes with 12 months of Hyundai Assurance. Should you experience one of the following life changing events, you have the option to simply return your Hyundai* and walk away from negative equity† with no impact to your credit rating or savings!
Covered Events include:
Involuntary Unemployment
Physical Disability
Loss of Driver’s License due to Medical Impairment
International Employment Transfer
Self-Employed Personal Bankruptcy
Accidental Death
As Autoblog.com points out, the plan only covers $7500 of depreciation. So far consumers aren’t buying it come first impressions. Take a look at this commenter on Autoblog’s opinions on the campaign:
"…They’re using trade in value.
2009 Sonata gls msrp $23,145
tax title lic doc $2,300
down payment $2,000 (National average)
total $23,445
Trade in value on an 08 $11,525 (Kelley blue book)
Deficit $11,920
Hyundai good will = $7,500
Still on the hook for $4,420