Hoping to spur its already robust sales gains to even higher levels than last year, Hyundai will carry its existing Hyundai Assurance program through 2010. This program, which began in January of 2009, allows buyers who finance or lease a new Hyundai vehicle to walk away from any monetary obligation should they become unemployed or encounter some other adverse life situation. Specifically, it provides protection from any financial shortfalls that arise from depreciation (negative equity) of up to $7,500. As before, the program is complimentary for the first 12 months of the financing or lease date and applies to vehicles financed through any lender and financing source.
The Hyundai Assurance program will complement the automaker's existing "America's Best Warranty" package that's based around 5-year/60,000-mile bumper-to-bumper coverage and 10-year/100,000-mile powertrain coverage as well as its 5-year/24-hour roadside assistance plan. John Krafcik, president and CEO, Hyundai Motor America, sees the plan as one of the key elements that helped Hyundai boost its U.S. sales by more than six percent in 2009 and allowed it to make inroads with conquest customers as well as retain its existing buyer base.