We love seeing companies that are innovative in their approach to helping customers, and in so doing, help themselves. We criticize the automobile industry a lot (for valid reasons we think), but in this case we can report on an innovative approach to selling more new cars.
In today’s US economy people are reluctant to spend money on items that require a loan becuase they are not sure they can get the loan, or if they do, will they have their job long enough to make payments. Hyundai America has found a terrific solution to this problem.
The money being “pumped” into the economy seems to be easing interest rates and making credit more “gettable” but there is still the uncertainty of job security. Hyundai has introduced the first ever program that allows you to return your vehicle and walk away from your loan without damage to your credit if you lose your job within one year of financing or leasing your new Hyundai.
Innovative, and we think it will be effective. We’ll see.