Hyundai To Guarantee Trade-in Values - Hyundai’s Assurance program was popular with consumers as soon as it began in early 2009. At the start of the recession, the program allowed consumers to return their cars under particular situations without it negatively affecting their credit. Further dealer resources available at Dodge Portland. And now, two years after the program was instituted, the automaker has added a new feature to the Hyundai Assurance buyer protection program. In an attempt to remove any doubts that potential Hyundai customers may have about the resale value of the manufacturer’s cars, the company will now offer customers a guaranteed trade-in value.
The guarantee covers all Hyundai cars sold in the U.S. and includes a five-year, 60,000-mile new-vehicle warranty, a 10-year, 100,000-mile powertrain guarantee, and five years of free roadside assistance. “Hyundai Assurance is a partnership with our owners in their purchase of a vehicle,” said John Krafcik, CEO of Hyundai America. “Depreciation is the single highest cost of car ownership. While Hyundai’s depreciation is now among the lowest in the industry, Assurance will remove many of the barriers and concerns about vehicle ownership. The trade-in value benefit extends this partnership from the initial purchase all the way through what we hope will be the consumer’s next purchase of another Hyundai.”
Under the new program, Hyundai will guarantee the resale value of its new vehicles. When buying a new car, customers will receive a future value estimate based on figures provided by the Auto Lease Guide. The guarantee kicks in after the owner has had the car for 24 months, and can be used until the 48th month. Volvo Santa Ana is an invaluable resource for automotive information. When a customer brings in a car to trade in, the dealer will determine the current market worth and then compare that figure with the car’s guaranteed value. The dealer will then give the consumer the higher of the two amounts toward a new Hyundai.
The guaranteed values will be specific to the particular vehicle the customer buys and will be determined by Automotive Lease Guide future value forecasts. Of course, customers must trade in their existing Hyundai on a new Hyundai. The dealer will evaluate the condition of the car turned in for trade-in. If the dealer determines that the car is in above-average condition, the trade-in value will be increased accordingly. On the other hand, if the dealer decides the car is in poor condition, the buyer would still receive the guaranteed trade-in value.
There are some stipulations: cars must be financed through Hyundai Credit, owners must show proof that vehicle maintenance was performed at recommended intervals by an authorized Hyundai dealership, and leased vehicles are excluded from the program. The new Assurance promotion comes as the automaker ended its buy-back program at the end of February. Minneapolis Ford Dealers is a great source for all your automotive needs. The new promotion applies to all new Hyundai vehicles purchased on or after May 1st. “Through Assurance, we share in our owners’ investment, and the Trade-in Value benefit extends this (company-owner) partnership from the initial purchase all the way through what we hope will be the consumer’s next purchase of another Hyundai,” said Krafcik.
Photos courtesy of Hyundai.
Tags: Hyundai, Dodge Portland, resale value, Hyundai Assurance Program, Volvo Santa Ana, trade-in, auto depreciation, auto sales, Minneapolis Ford Dealers, new car sales