Hyundai is first ever automaker to offer job loss insurance on new car loans. In partnership with WALKAWAY USA, LLC, the automaker is offering a no-strings vehicle return insurance for customers who lose their jobs.
Want to buy a new car but are worried you just might lose your job in these unsure times? Well, Hyundai now has an answer for that.
In an unprecedented move by an automaker, Hyundai is now offering buyers of new cars free job loss insurance that allows customers to return vehicles penalty-free if they become unemployed within 12 months of buying a new Hyundai.
"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 CEO of Hyundai Motor America, in a press release.
The Hyundai Assurance Program will be done in conjunction with WALKAWAY USA, an automotive retail services company. The Hyundai program will be a private label version of WALKAWAY's Protection for Automotive Financing service.
Hyundai is hoping the program will work as an incentive to customers, as did their 10-year, 100,000 mile powertrain warranty protection which began a decade ago, which helped dispell perceptions of Hyundai as a poor-quality automaker.
Hyundai is betting that the straight-forwardness of their campaign will be reassuring to prospective buyers. Customers who find themselves unemployed within 12 months of buying a Hyundai can simply drop off the car at their dealer and stop paying the loan.