Hyundai Motors has started a customer centric programme with a view to provide a helping hand to its customers. Named as ‘Hyundai Assurance Program’, which allow the Hyundai car buyers to return the car within the first year of purchase if a buyer looses his or her source of income. This is an amazing step taken by Hyundai amid the prevailing uncertain economy. But sadly, this offer is only applicable for US customers.
Car which always considered as a status symbol have now turned into a burden for many due the present financial crisis. Maintaining a car has become a costly affair with fluctuating fuel prices. At this time of recession, when layoffs has become everyone’s fear, this type of programme will definitely attract the car buyers towards car showrooms.
The first of its kind programme in the auto industry is held in partnership with an Dallas based national performance management company called WALKAWAY USA. It is a subsidiary of EFG Companies that services the retail automotive industry. The organisation has helped many consumers to walk away from the burden of heavy automotive-related debt.
Excitingly, this Buy Back Cars programme has received good response from car buyers. Hope Hyundai also introduced similar programme in India which will solve the problems of many. This will further help the manufacturer to build brand trust and confidence of customers.
I think in India we need such a policy. Indian job market is falling down drastically almost in line with the car market. Hyundai should soon come up with a return back policy in India because many employees are becoming jobles these days.
You are right, companies in India are just throwing out people. Many of those who have purchased house and cars on loan are in great trouble these days. Hyundai should take an immediate measure to introduce the car return back policy in India.
One problem. Hyundai allows a MAXIMUM benefit of $7500USD. The car you get will be well over this amount (even after a year of payments). So if you have to "walkaway' then you will have to pay the difference of the amount still owed on the car minus $7500.
ABSOLUTELY NOT A GOOD DEAL! Its a shame that many people will not catch this "maximum benefit" rule. It appears to me that Hyundai is trying to deceive people.