Hyundai Motor America incredible offer

**tidus1203** · January 31st, 2009 12:15 AM

http://www.cnbc.com/id/28932367

And they will announce this offer in the Super Bowl one of the most watched event in the US if not the most watched.

**Camgen6** · February 4th, 2009 02:55 PM

Just an update.

DETROIT - You've heard about the Hyundai Assurance Program, the one that guarantees the South Korean company will buy back your new car if you lose your income? It works. Hyundai Motor America announced Tuesday a 14-percent increase in sales compared with January 2008. Hyundai sold 24,512 cars and trucks.

Source:
http://blogs.motortrend.com/6462108/...rks/index.html

**Memphis Raines** · February 4th, 2009 03:24 PM

This is what sets some Korean companies apart. Great scheme!!

Now all they have to look out for are the scams that the consumer might pull-off on them especially the physical disability part. Lotsa insurance scams related to this are common there.

**tidus1203** · February 4th, 2009 04:48 PM

Well they better hope (Hyundai that is) that the returns will be tolerable pag sabay sabay yan it will hurt a lot! Even if their losses are capped at $7500, selling used cars in a crappy economy is hell. But this is their chance. This economic downturn is their chance, their chance to grab more market, and maybe steal positions from the others.

**empy** · February 6th, 2009 06:32 AM

Originally Posted by tidus1203

Well they better hope (Hyundai that is) that the returns will be tolerable pag sabay sabay yan it will hurt a lot! Even if their losses are capped at $7500, selling used cars in a crappy economy is hell. But this is their chance. This economic downturn is their chance, their chance to grab more market, and maybe steal positions from the others.

it's a calculated risk to be sure, but it's working. a 14% increase in a recession, at the same time your competitors lost up to 81% in sales is an astronomical increase in market share...that's a 9500 basis point swing in a fukking month!! brilliant.

if Hyundai continues to sell 24,000 cars a month, in 10 mos that's 240,000 cars. if 2% of those cars are returned (my wild assumption given the current 6-7% unemployment rate), then that's 4,800 cars x let's say, $3,750 a car (split the max loss in half to take an average) = $18M in total losses.

that's less than most Fortune 500's spend on solicitations and advertising in a month!! and to get that much of a return when Chrysler is down 81% and the Japan Big 3 are down 30% is a huge win indeed

**tidus1203** · February 6th, 2009 08:59 AM

We never really can say what will happen in the future. If unemployment rises to double digit (which is not impossible by the way). But still, I like bold companies so I still wish this all works out for them. The program has just started and people have just bought so the short term impact should be good but we will only truly know if the gimmick truly worked maybe 2 years from now...

**tidus1203** · February 8th, 2009 07:56 AM

Better have unsold inventories of brand new cars then a pile of used cars

**architect** · February 8th, 2009 12:31 PM

Originally Posted by Jun aka Pekto

Public transportation is limited to city limits. I've been to most of the big cities in CA. They have public buses in addition to a public rail system. Also, I think public buses aren't allowed in interstates and other highways. They're limited to city streets.

Jun, BART (Bay Area Rapid Transit) system in Northern California actually covers four counties - San Francisco, Alameda, San Mateo, and Contra Costa. I know L.A. has some sort of public rail system as well but I never took it when I lived there before.

**tidus1203** · March 2nd, 2009 08:17 AM

Now they added a new sweetener to the deal called the Hyundai Assurance PLUS!

Now besides that you can return your car if you lose your job, they will pay for 3 MONTHS of your payment first and if by that time you don't find a job then you can still return it...

http://www.hyundaiusa.com/financing/...ranceplus.aspx

**joshua_ching** · March 2nd, 2009 09:55 AM

Originally Posted by Jun aka Pekto

Public transportation is limited to city limits. I've been to most of the big cities in CA. They have public buses in addition to a public rail system. Also, I think public buses aren't allowed in interstates and other highways. They're limited to city streets.

Not really!! Ang totoo, ang mga city buses ay hindi allowed sa high speed highways dahil pang-city lang sila, pero may mga interstate buses katulad ng Greyhound bus, Rapid-Transit, etc. na bumibiyahe between States, and between cities and counties. Ganun din ang tren, may pang inter-city lang at merong pang interstate (Amtrak).