Auto Trends

Hyundai Assurance, originally uploaded by Jeff Woelker

The Hyundai Assurance Program is a gamble like none other, but it appears to be paying off for Hyundai in a big way. Trying to sell vehicles during poor economics, is no easy feat. It involves throwing just about everything at your customer, including the kitchen sink. For instance, last year we saw many dealers offering free gas or a guaranteed $2.99 a gallon with every vehicle purchased. Then we saw 0% APR financing and thousands of dollars “cashback” become the next greatest thing. But what Hyundai has done is really hit the public where they are concerned most…

Yeah, most consumers are concerned about the price of gas, but it is not really a deal maker or breaker for the most part. Consumers like to get a good deal on financing and a few bucks back, but this still does not really hit home with what currently is on most peoples mind. They want to know whether or not their car company has got their back should they fall behind on their payments. Not much good a gas card is going to do in this scenario. And while they may have a 0% APR now, after a few missed payments on their new car, they are still going to owe more money than their next months mortgage.

What the Hyundai Assurance Program is all about?

This is exactly where Hyundai beats out just about every new vehicle deal out there. In their Assurance Program, Hyundai is offering all new customers the piece of mind that should they lose their job within their first year of ownership, they are free and clear to return the vehicle and not be subjected to payback of the vehicle. They can just “walk away”. Walkaway USA is providing this coverage to Hyundai customers free of charge throughout the 2009 fiscal year.

So far the program has only had two customers follow through with the program and return their vehicle. But one thing is for sure, there are a whole lot more Hyundai fans this year than there were last year. How do we know this? Well, because Hyundai is the only manufacturer who has been making any money during the start of 2009. They reported an amazing 14.3 percent boost in car sales from a year ago. Most every other auto manufacture reported a huge loss, and will most likely be facing another one this month.

Get with the Program Ford, Chevrolet, and Chrysler

Could a program such as this be the salvaging grace for the U.S. big three? Perhaps. But are they thinking along with something like this? No, the last we heard their next option is going to be increasing the cost of their vehicles to compensate for poor sales. Say goodbye to the “not-so” Big Three, folks!