Sign of the Times: Hundai Assurance

I was stunned to see this on TV.  Once it was offers for financing.  Then there was no money down.  Then there were 0% loans.  Now Hyundai is offering car buyers a chance to back out of buying a new car if they lose their job within one year.

Apparently I am late to this one, as reported in the LA Times Blog in January:

Hyundai Motor America unveiled a novel approach to the problem over the weekend. Dubbed the Hyundai Assurance Program, the South Korean automaker said that people who finance or lease a new Hyundai during the next 12 months can return the car if they “experience an involuntary loss of income” within one year of the purchase date.

Unbelievable.  Sign of a bottom?  Or just more gloom to come?

Sources:
Wyatt-Johnson Hyundai Assurance Commercial
YouTube, Accessed February 7, 2009

Hyundai’s economic stimulus package
Martin Zimmerman, LA Times Blog, January 5, 2009
http://latimesblogs.latimes.com/uptospeed/2009/01/hyundais-econom.html

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