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Hyundai introduces trade-in value guarantee program

By KBB.com Editors on April 27, 2011 3:16 PM

Hyundai's latest move to curry favor and build confidence with its owners comes in the form of a new addition to its Hyundai Assurance program. Starting May 1, the automaker will bolster the existing benefits package with a new Trade-in Value Guarantee that will apply to all new Hyundai vehicles purchased. Intended to eliminate any concerns about possible depreciation issues, it uses the forecast future value determined by the Automotive Lease Guide (ALG) to establish a benchmark that will allow customers to trade in their Hyundai vehicle at any time between 24 and 48 months of ownership and receive credit for the guaranteed residual amount -- or more -- against the purchase price of a new Hyundai. If the assessed value of their vehicle at that time is higher than the ALG guaranteed amount, the customer can apply that full amount toward the purchase of a new Hyundai. However, should the assessed value be less than the guaranteed figure, the customer still will be able to use the latter amount toward the purchase of a new Hyundai vehicle financed through Hyundai Credit.

To qualify for the Hyundai Assurance Trade-in Value Guarantee, the customer must show proof that the vehicle had been maintained at the recommended intervals through authorized Hyundai dealerships. Coverage is only applicable when the current market value of a vehicle drops below the guaranteed trade-in value of the vehicle. Lease vehicles are not covered by the Hyundai Assurance Trade-in Value Guarantee. For complete details, visit: www.Hyundai.com.