The program was launched in January 2009 when the recession started to hit consumers and automakers hard. It allowed car buyers who found themselves laid off to return their vehicles within the first two years of purchase. The program will end this Friday.
Over the life of the program, only 350 customers asked Hyundai to take their vehicles back due to job loss, according to the Detroit News. Despite the low usage, the program was heralded as boosting Hyundai’s image and sales during a tough time in the auto industry.
Hyundai’s plan spawned copycats, most noticeably Ford’s Advantage Plan and GM’s Total Confidence program. Both have been discontinued.
Hyundai to Drop Job Loss Guarantee (The Detroit News)
Editor’s Note: Hyundai’s job-loss protection has been discontinued, but all other aspects of Hyundai Assurance will remain, company spokesman Jim Trainor said. “We use Assurance as the umbrella that covers our warranty programs, free roadside assistance and all quality, dependability and reliability initiatives,” he said.