What that actually means is Hyundai is offering to cover up to $7.5K of the debt on a new car in case of
Loss of driver’s license due to medical impairment
International employment transfer
Self-employed personal bankruptcy
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.”