The 2012 Hyundai Veloster. Image: Hyundai Motor America
When it comes to automakers who think outside of the box, it’s tough to beat Hyundai. Their “Hyundai Assurance” program began by offering buyers a 10 year, 100,000-mile powertrain warranty, removing any concerns potential buyers may have had over Hyundai’s durability. Next, their Assurace program addressed the economic meltdown by (temporarily) offering to take back cars, with no financial or credit penalty, in the event of job loss. Next up for Hyundai? Their Assurance program will now guarantee a trade-in value on your new Hyundai (purchased after May 1), from months 24 through 48 of your loan. What better way to give buyers peace of mind than by telling them what their car will be worth in two to four years?
Some owners take better care of their vehicles than others, and Hyundai’s Assurance program addresses this. If your car is appraised by the dealership at a higher value than the original quote, you get the higher trade-in amount. If it appraises lower, don’t worry: you’ll still get the guaranteed amount towards the purchase of a new Hyundai.
There’s fine print, to be sure, and the program is pure marketing genius on the part of Hyundai. First, you need to finance all eligible vehicles through Hyundai Credit, ensuring that Hyundai earns interest on your loan, not some other financial institution. Next, and perhaps most obvious, you need to trade your Hyundai in on another Hyundai, so you can’t just sell your car back to the dealership and buy another brand. Here’s the genius part, though: to be eligible for the program, cars must be serviced at scheduled intervals by an authorized Hyundai dealership. In other words, Hyundai is capturing your business for the car sale, financing and service throughout the first 48 months of ownership. If that’s not genius, then I don’t know what is.
Also, don’t forget that you can get discounted new car pricing with a free quote through qualified local dealer partners.
Kurt Ernst has been passionate about automobiles and driving nearly his entire life. His early years were shaped working in the family service station, though his real passion was auto racing. After graduating from the University of Colorado, Kurt spent a year club racing with the Sports Car Club of America, before focusing on a business career in marketing and project management. Later, his passion for writing and the automotive hobby found him freelancing for a variety of automotive news sites, including Automotive Addicts and Motor Authority, where his work was syndicated and appeared in several national publications. Recognized as an expert in the automotive field, Kurt joined Hemmings Motor News as an Associate Editor in 2013, and in the years since has progressed to Editor, Hemmings Daily; Managing Editor for Hemmings Motor News, Hemmings Classic Car, Hemmings Muscle Machines, and the Hemmings Daily; and now, Managing Editor, Hemmings Auctions. Kurt was instrumental in organizing the Hemmings Motor News Concours d’Elegance from 2013-2019, and has served as a judge at this event and The Vintage Racing Stable Concours d’Elegance. A Skip Barber Racing School graduate and prolific writer, Ernst is also skilled in copyediting, project management, brand development, and public relations.
