Here's Your Bail Out: Hyundai Launches Free Return Policy

Robert Farago
by Robert Farago

The basic idea behind Hyundai’s new Assurance scheme: if you can’t afford the payments on your new Hyundai-financed Hyundai within the first year of financial servitude, just drop it off and walk away. No debt. No ding to your credit rating. No charge. The devilish details might not keep the Charmed Ones busy, but they’re worth a closer look. For example, you can only boomerang your Hyundai if you’ve experienced “involuntary unemployment, physical disability, loss of driver’s license due to physical impairment, international employment transfer, self-employed personal bankruptcy, accidental death.” One wonders about the importance of credit ratings to someone who’s just shuffled off this mortal coil, but that’s just quibbling. And, of course, there’s a few Hyundai-shaped hoops you have to jump through even if you are dead.

“2. Your benefit specialist [a.k.a. Hyundai’s take no pensioners insurance adjuster] will determine the value of your vehicle based on the average of your dealer’s appraisal and the values from leading industry guides.”

“3. Provided you have made at least two scheduled payments on your loan or lease, you pay for the amount above the Hyundai Assurance benefit (if anything) and any car payments that were due prior to you filing for the benefit.”

We should be seeing ads for this program soon. Meanwhile, what’s your take? Scam or another coup from the people who brought you America’s Best Warranty™?

Robert Farago
Robert Farago

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  • Anonymous Anonymous on Jan 06, 2009

    [...] as well as record for failure – or accidentally die. Robert Farago during The Truth About Cars wrote about Hyundai Assurance as well as got copiousness of feedback from readers. Many [...]

  • Asetech Asetech on Jan 06, 2009

    I work in the auto repair industry and I see this type of thing all the time. Companies advertise this "great deal" but they have so many limitations on it that it isn't really that great of a deal. The more I see good deals, the more skeptical I become!

  • Ken Ken on Jan 08, 2009

    So am I dense. Please explain to me what I am missing that makes this a good deal. I go to my Hyundai dealer and trade in my car to buy a new Hyundai. Four months later, I lose my job and return the car. No I have no payment, but I also have no transportation to find a new job. ?????

  • Prolixblyss Prolixblyss on Jan 19, 2009

    in reply to cos999 Obviously there are very few of you that are actually currently in the auto sles industry. The majority of these responses are not only completely unfounded but based off a product opinion formed about an 87 excel?????? You have to be kidding me... it's funny how quickly the public forgot about Toyota's moire than rocky beginnings as well as honda. Really an 87 excel.. ahahahahahah. Have any of you researched Hyundai's product quality, or IQS from J.D. power.... try 1.porche 5. honda And on the depreciation subject..... obviously your toyota has a higher resale because YOU PAYED MORE YOU IDIOTA! I love it when under ionformed everymen think they have a clue...... hahahahahaha