As Hyundai’s “lose your income and we’ll buy your car back” Assurance program comes to an end, the automaker is about to roll out a new plan, Assurance Trade-in Value Guarantee, for keeping customers loyal: guaranteeing trade-in values for up to four years after you purchase the car. Of course, this deal does not come sans conditions.
Here’s how AdAge describes the program, which launches May 1:
When a consumer buys a new vehicle from a Hyundai dealership, the company will guarantee what the trade-in value of that vehicle will be after the second full year of ownership through the fourth year.
To qualify for the guaranteed trade-in value, customers must show proof that they have completed all factory-recommended vehicle maintenance at a Hyundai dealership.
Another condition for eligibility, as Consumer Reports’ auto writer Jonathon Linkov points out to Automotive News, is that you must also finance that second purchase (the one using your traded-in vehicle) through Hyundai credit. Furthermore, Linkov cautions that it’s generally more expensive to have your car serviced at a dealership than your local garage, so you need to factor that cost into the guaranteed trade-in value before deciding if this deal is good for you.
Hyundai to Guarantee Trade-in Values [AdAge.com]
Hyundai’s bold path continues post-Ewanick [Automotive News]