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Hyundai Assurance PLUS Program

A decade ago Hyundai pioneered America's Best Warranty?. Now we're providing another kind of confidence. Finance or lease any new Hyundai, and if in the next year you lose your income*, we'll let you return it. That's the Hyundai Assurance.

At Hyundai we think it's easier to find a job when you've got a car. That's why, for a limited time, we expanded Hyundai Assurance, and we've added...something extra. A plus, as in Hyundai Assurance Plus. If you lose your income, we'll make your payments for 3 months while you get back on your feet, and if that's not enough time to work things out, you can return the car with no impact on your credit.

We're all in this together, and we think it'll be a little easier to get through it with a good set of wheels.

 *See your Phil Long Hyundai Dealer or the program certificate for complete coverage details. Hyundai Assurance is valid on any new Hyundai model financed or leased, for up to one year after purchase. Restrictions apply.

 


January 6, 2009

Hyundai return policy is first for industry

Hyundai Motor America has a new program offering buyers some protection against the involutary loss of income for the first year of a lease or purchase with a voluntary return program that allows owners to walk away from the deal without fear of damaging their credit. The "Hyundai Assurance Program" expands the protection offered through "The Hyundai Advantage: America's Best Warranty," which has provided 10-year, 100,000-mile powertrain protection to Hyundai owners for a decade.
 
The new Hyundai Assurance Program is complimentary for one full year, covers all Hyundai models and is available to everyone    
 
"We understand consumers' hesitance to commit to large purchases in today's economic environment," said John Krafcik, acting president and CEO, Hyundai Motor America. "Ten years ago, Hyundai's industry-leading warranty provided peace of mind to consumers about Hyundai's quality and reliability. Today we're extending that peace of mind to cover consumers' employment status and personal finances."
The Hyundai Assurance Program, the first of its kind for an automaker in the U.S. auto industry, allows consumers to walk away from a financing obligation when certain adverse life events occur, providing protection from financial shortfalls that arise from vehicle depreciation up to $7,500.
The Hyundai Assurance Program complements America's Best Warranty as standard protection on new vehicles financed or leased from a participating Hyundai dealer, and supplements all existing consumer incentives, the automaker said. The program is available to any consumer, regardless of age, health, employment history or financed amount of the vehicle. The program is complimentary for the first 12 months of the financing or lease date for vehicles financed through Hyundai Motor Finance Company and other third-party lenders and financing sources. Covered circumstances include:
-- Involuntary unemployment
-- Physical disability
-- Loss of driver's license due to medical impairment
-- International employment transfer
-- Self-employed personal bankruptcy
-- Accidental death
Consumers must have made at least two scheduled payments on their loan or lease, be current on all payments and pay for any outstanding balance above the $7,500 benefit amount which results from negative equity. Once the benefit is approved by the Hyundai Assurance administrator and the customer pays any outstanding balance, the customer returns the vehicle to the selling dealer, whose appraisal is factored into the valuation formula, and the consumer avoids further financial obligation or negative impact to his/her credit. The dealer is then able to remarket the vehicle.
 
 
Auto Tax Deductions

President Obama Signs Auto Tax Deductions into Law

 

PHOTO

 

Washington DC February 18, 2009; The AIADA newsletter reported that yesterday, President Barack Obama signed into law the American Recovery and Reinvestment Act of 2009. The new law contains a provision designed to entice auto consumers back into vehicle showrooms. This provision applies to eligible purchases between February 17, 2009 and December 31, 2009. Qualifying consumers may now deduct:

  • State motor vehicle sales taxes
  • Local motor vehicle sales taxes
  • Motor vehicle excise taxes

 

Consumer Qualifications:

  • Individual taxpayers whose adjusted gross income is less than $125,000 per year
  • Joint-filers whose combined adjusted gross income is less than $250,000 per year
  • Itemizers and non-itemizers who may deduct taxes "above-the-line" on their federal tax returns

 

Eligible Vehicles:

  • All new model year vehicles currently on dealers' lots that have no prior purchase history
  • New passenger cars and light trucks retailing up to $49,500 may collect full tax deductions. For all vehicles above this price, consumers may deduct sales taxes on the first $49,50
  • The vehicle must weigh less than 8,500 pounds total

http://www.theautochannel.com/news/2009/02/18/434144.html

 

 

 
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