Visit your Chicago Hyundai dealer to find out more!

It was a little more than a decade ago that Chicago Hyundai dealers first introduced drivers to America’s Best Warranty as a way of showing car buyers how much faith the company had in Hyundai’s vehicles. Fast-forward ahead to today and the warranty is still in place. Now, Hyundai is demonstrating to buyers Hyundai’s faith in them. Allow me to further explain.

Anyone, regardless of age, health, or employment history, financing or leasing any new Hyundai automobile who loses their income will be eligible to return their Hyundai hassle-free; even being covered up to $7,500 in negative equity. Coverage comprises a wide range of circumstances of which the driver is eligible to return the automobile, including, involuntary unemployment, physical disabilities, revoking of driver’s license due to medical impairment, international employment relocation, personal bankruptcy, and accidental death.

For those who fall under any of the categories listed above, one is eligible to file a request for benefits with Hyundai Assurance Administrator. To qualify the driver must have made at least two scheduled payments and be up-to-date on their loan or lease. From there the benefits specialist will assess the value of the vehicle by averaging your dealer’s appraisal and the values from leading industry guides. Upon approval, the vehicle will be returned to the selling dealer and pay any additional balance above the previously mentioned $7,500 Hyundai Assurance, if any; walking away free of further financial obligation and their credit score intact.

Not sure what “negative equity” is? Imagine you still owed $20,000 on your Hyundai when it is decided to be turned back in; if the automobile is valued at $15,000, then it has $5,000 in “negative equity.” That’s $2,500 under the $7,500 limit, and therefore you owe nothing. The likelihood of the car depreciating by more than $7,500 in the first 12 months is very slim.

Hypothetically speaking, what if I were to lose my job and didn’t have enough saved up to make payments in the meantime but felt I could track down another opportunity in only a couple of months? Having already planned ahead, Hyundai recently introduced the Hyundai Assurance Program Plus, a program available to anyone looking to buy new Hyundai in Chicago. If let go by your place of employment, Hyundai will make your payments for up to three months; after those three months are up, if you have a job, you are able to keep the car with no obligation to pay them back for the assisted payments. If you are still unable to find employment, you can return the car via the normal Assurance process, free and clear and without it impacting your credit rating.

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For more information please visit your Chicago Hyundai dealership.