Comments on: Hyundai Assurance: Lose Your Income, Return the Car

By: Joe Farrell

Joe Farrell — Tue, 14 Apr 2009 13:02:47 +0000

1 simple fact – if Hyundai tells you to see the dealer for details and dealer does not have any details – then there ARE no details. You can’t add them later. I cannot see many courts not interpreting this in favor of the consumer under these facts. . .

By: Dan

Dan — Fri, 20 Feb 2009 15:43:41 +0000

I understand exactly what you mean. Readily available for reading. I purchased a car from my local dealer with no intention of losing my job. Have worked 40-60- hrs a week for years. Government downsizing and budget cuts cost me my position. After talking with the dealership I had NO problems retuning the vehicle. I however lost my trade in and had to provide an additional 1300.00 dolars in funds. Absolutly NO ramifications to my credit worthiness. It is the best policy anyone has come up with and when I get back on my feet I will buy another Hyundai.

By: Roger Mac

Roger Mac — Mon, 16 Feb 2009 20:31:04 +0000

This is not that bad a deal, as most offers go. Using one dealer is clearly not a scientific survey since auto dealers are notorious for their “independent” ways of doing business. However, the television add is quite clearly misleading in one way. I don’t know anyone who thought this was a refund program. They do perceive it though as a way to get clear of automotive debt, which it is not. (The mouse print is too small and on too little time.)

This unfortunately could, with the aid of an unethical salesperson, help justify someone to buy well over their means. Buying a car over your means and not being able to meet your payments is not one of those “six reasons.” Yet if you happened to only qualify for one of those auto dealer acquired high interest loans and found yourself turning in your car within a year after purchase you could still be in big trouble. Even with the $7,500.00 forgiven, you could still find yourself owing the near full amount of your purchase due to that high interest rate and not have any relief what so ever.

By: Vince

Vince — Sat, 14 Feb 2009 21:47:54 +0000

the administrator is WALKAWAY USA located in Irving TX – all dealers have access to a program website where they can download a PDF for consumers to read the terms and conditions – hey – it’s insurance and of course Hyundai is not going to allow a dope dealer to return their car if their main source was caught in gun fight and shot or an illegal immigrant or something show up to get out of the car loan. Get over it people – it’s an insuracne policy and every insurance has a ‘contract’ with mouse print and the contract I got wasn’t something I needed a magnifying glass to read. I encourage you all to get one and judge for yourself. I compared these to the insurance terms I had to get for my credit card – and they want .90 cents per $100 of balance, and get this – every month! So I owe 7,500 (same benfit as Hyundai) and that’s 67.50 a month for job loss insurance or $810 for the year and I have to be employed for a year to qualify. Hyundai is GIVING this away and the terms are generous and reasonable. I agree with Mark – cry babies … WHAT ARE OTHER CAR COMPANIES DOING FOR THE ECONOMY. I know, I know – it’s about getting the agreement BEFORE I buy, but try that now; it’s a lot easier. The dealer I went to told me that they didn’t even know this was happening and that the first time anyone saw it was on TV on Jan. 2 – I guess it happened pretty fast, just like the crash in November. My lease is up soon and I’m still working and if I still am I’m getting a Hyundai – what would you get?

By: Logan

Logan — Fri, 13 Feb 2009 19:02:03 +0000

Kinda like when Mistu had the zero down, sign here, drive away program.

Mistu almost went out of business.

Anyway. Hyundai ‘January’ sales are actually in a 3 year decline.

They sold more cars in Jan 2007 then either Jan 2008 or Jan 2009.

Dec 2008 sales were off by 48%.

Not exactly reported that way on the TV business news.