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Hyundai: If you lose your job, just return your car. We'll deal with your lender.

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Filed: Citizen (pnd) Country: Hong Kong
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Posted
If buyers loses their income for reasons ranging from unemployment to death, Hyundai will allow them to return the vehicle.

Um.....how do you return the car when you're dead? :unsure:

Scott - So. California, Lai - Hong Kong

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Filed: Timeline
Posted
I saw this on the news earlier and thought only someone who worries about being able to make their car payment is going to buy a Hyundai anyways :P

Likely true. We own a Hyundai (Elantra) and if our Honda died today I'd likely go trade it in for a Sonata. And yes, I'm definitely someone who worries about making payments.

Man is made by his belief. As he believes, so he is.

Filed: Citizen (apr) Country: Colombia
Timeline
Posted
I saw this on the news earlier and thought only someone who worries about being able to make their car payment is going to buy a Hyundai anyways :P

Likely true. We own a Hyundai (Elantra) and if our Honda died today I'd likely go trade it in for a Sonata. And yes, I'm definitely someone who worries about making payments.

Sure putting their ads on TV, let's see if I have this right. I buy a Azera Limited for $30,000.00 with 10% down and finance it through Hyundai for $27K, well add on another $1,850 for licensing, title, registration, and sales tax. Drive it home two blocks and put it in my garage, lose my job, and they will buy it back for $7,500? What about the other 24,000 bucks? And what if my dealer says it's only worth 500? Do I lose that car and still owe them $31,350.00 less my down payment?

One thing I do know for sure, would never get the money I had to pay to the state back.

Filed: Timeline
Posted
I saw this on the news earlier and thought only someone who worries about being able to make their car payment is going to buy a Hyundai anyways :P

Likely true. We own a Hyundai (Elantra) and if our Honda died today I'd likely go trade it in for a Sonata. And yes, I'm definitely someone who worries about making payments.

Sure putting their ads on TV, let's see if I have this right. I buy a Azera Limited for $30,000.00 with 10% down and finance it through Hyundai for $27K, well add on another $1,850 for licensing, title, registration, and sales tax. Drive it home two blocks and put it in my garage, lose my job, and they will buy it back for $7,500? What about the other 24,000 bucks? And what if my dealer says it's only worth 500? Do I lose that car and still owe them $31,350.00 less my down payment?

One thing I do know for sure, would never get the money I had to pay to the state back.

Easy.. buy what you can afford. All this does is raise your ceiling by $7,500. It doesn't mean you can go out and buy an Azera if that's still out of your price limit. Look at the Accent, might be a better choice if you're that hard up.

Man is made by his belief. As he believes, so he is.

  • 4 weeks later...
Filed: Timeline
Posted

It's working! Good call, Hyundai!

Hyundai gained 14 percent after it began a program to let customers who lose jobs return cars. Toyota Motor Corp., the world’s biggest automaker, slid 32 percent, Honda Motor Co. fell 28 percent and Nissan Motor Co. declined 30 percent.

“Toyota and Honda may be feeling some pressure from smaller brands, particularly Hyundai with its buyback program,” said Jesse Toprak, director of analysis for auto-research firm Edmunds.com in Santa Monica, California. “Hyundai’s program seems to have really dealt with a core issue of making consumers feel more secure about a purchase.”

The gain for Seoul-based Hyundai was one of the few bright spots last month as auto sales withered amid mounting job losses and dwindling consumer confidence.

Man is made by his belief. As he believes, so he is.

Filed: Country: Philippines
Timeline
Posted
It's working! Good call, Hyundai!

Hyundai gained 14 percent after it began a program to let customers who lose jobs return cars. Toyota Motor Corp., the world's biggest automaker, slid 32 percent, Honda Motor Co. fell 28 percent and Nissan Motor Co. declined 30 percent.

"Toyota and Honda may be feeling some pressure from smaller brands, particularly Hyundai with its buyback program," said Jesse Toprak, director of analysis for auto-research firm Edmunds.com in Santa Monica, California. "Hyundai's program seems to have really dealt with a core issue of making consumers feel more secure about a purchase."

The gain for Seoul-based Hyundai was one of the few bright spots last month as auto sales withered amid mounting job losses and dwindling consumer confidence.

Detroit - watch and learn!

Posted
If buyers loses their income for reasons ranging from unemployment to death, Hyundai will allow them to return the vehicle.

Um.....how do you return the car when you're dead? :unsure:

You dont some else has to call and have them come get it. Not a pleasant thing to have to do.

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