New Hyundai warranty covers job loss*

*Mostly.

hyundaiIn a mark of how bad things are “Hyundai is providing a complimentary vehicle return program for the first year on every new Hyundai that is financed or leased for owners who experience an involuntary loss of income within 12 months of the purchase date.

What that actually means is Hyundai is offering to cover up to $7.5K of the debt on a new car in case of

  • Involuntary unemployment
  • Physical disability
  • Loss of driver’s license due to medical impairment
  • International employment transfer
  • Self-employed personal bankruptcy
  • Accidental death

Details: You have to have made at least two payments; you are still on the hook for everything over $7.5K and; they get the car back.  Which means if you bought the bottom line Accent with nothing added to it (MSRP $9.9K) and make just the two payments you are only on the cuff for about two grand. Not great but so far it’s better than anything else out there. (What dumbass wrote that? Truth is below)

You are on the hook for only the depreciation OVER $7500. Example: if the car had an msrp of around 25 grand and you were on the peverbial hook for the whole magilla and the depreciation over the first 10 months was 30% ( 7.5 large ) you would owe nada.

The deal looks even better when you consider that none of your tax dollars have gone into propping the company up.

So the new motto is, “Hyundai — the car to buy if you think you’re going to get canned.”

3 thoughts on “New Hyundai warranty covers job loss*

  1. So what happens if you die in a car wreck? Are they happy with the dented can?

    Sounds like a great way to reduce inventory just before they go belly up!

  2. Reading is fundamental. You are on the hook for only the depreciation OVER $7500.
    Example: if the car had an msrp of around 25 grand and you were on the peverbial hook for the whole magilla and the depreciation over the first 10 months was 30% ( 7.5 large ) you would owe nada.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s