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?
Wyatt-Johnson Hyundai Assurance Commercial
YouTube, Accessed February 7, 2009
Hyundai’s economic stimulus package
Martin Zimmerman, LA Times Blog, January 5, 2009