The Hyundai Assurance program offers car buyers peace of mind when laying out big money for a new automobile with the stipulation that should you lose your job, experience self-employed bankruptcy or be subject to a few other “life-changing circumstances” you can return the vehicle.
CNN Money quotes auto industry analyst Anthony Pratt as saying about the campaign, “It addresses the very thing that’s likely keeping consumers away from making a big purchase.”
The Assurance program also offers to provide consumers relief from making three monthly car payments while you regain financial stability. If you don’t manage to get back on your feet, the car company will take the auto back, covering up to $7,500 in value deterioration.
On its website, Hyundai says the offer allows you to “walk away from negative equity while keeping your credit rating and savings intact.” This is because the loan is considered paid off in full.
This type of marketing campaign is also working for the airline industry. JetBlue has made a similar offer to consumers.
New purchases made on the carrier between February and June of this year are eligible for a full refund if the ticket buyer involuntarily loses his or her job.
Based on the success of programs like these, CNN Money reports that other industry players are looking to woo customers with similar offers.
Similar Posts:
Recent Comments