Monday, 23 March 2020 21:35

Hyundai Job Loss Program Offers Peace of Mind in Uncertain Times

Written by Auto Remarketing staff


To support its customers affected by the uncertain financial environment created by the coronavirus pandemic, Hyundai Motor America is reinstating its Assurance Job Loss Protection program.

Hyundai will make up to six months of payments for new owners who lose their jobs and have purchased or leased their vehicle between March 14 to April 30, 2020, through Hyundai Capital.


For select new purchases through April 30 financed by Hyundai Capital, Hyundai will also defer payments for 90 days at the customer’s request.


Hyundai originally conceived the Assurance Job Loss Protection program in January 2009 as a result of the financial crisis at that time. The company says the program was the first of its kind for an automaker in the U.S. and allowed customers to return their vehicle if they lost their job.


Today, the program provides up to six months of payment relief for customers who lose their job involuntarily.


The payment relief is available for all customers, regardless of employment history, who purchased or leased their new vehicle from a Hyundai dealer and financed it through Hyundai Capital.


“We understand the extreme uncertainty created by the coronavirus and the anxiety experienced by our customers, and wanted to tap into Hyundai’s legacy of having people’s back,” said José Muñoz, chief operating officer, Hyundai Motor Company; president and CEO, Hyundai Motor North America, in a news release.

“Bringing back the job loss protection program in this unprecedented time will allow our customers to have one less thing to worry about if something unexpected happens to their employment status," Muñoz said.


For customers needing a new vehicle, Hyundai is also deferring payments for 90 days on select new models purchased at a Hyundai dealership and financed through Hyundai Capital. Those models are Santa Fe, Tucson, Elantra, Elantra GT, Kona, Venue and Accent.


Hyundai Assurance Job Loss Protection joins Hyundai programs under the Hyundai Assurance umbrella that consists of Owner Assurance and Shopper Assurance. Owner Assurance includes Job Loss Protection, the recently launched Complimentary Maintenance program and America's Best Warranty. Hyundai says Shopper Assurance simplifies the car buying process.


We thank Auto Remarketing for reprint permission.