You know that Hyundai Assurance program where, if you lose your job within a year of buying a new car from them they let you return it for almost a full refund? So far, no one has returned any of their new Hyundais. What does it mean?
The easiest conclusion is that none of the buyers have lost their jobs. But perhaps it just means people who are financially secure enough to be in a position to buy a new car got there by making secure bets, so they would gravitate towards a program that provides buyer protection. While on the face of it The Hyundai Assurance program looked like a way to help the financially shaky, maybe it was really a way to draw the safe money from the sidelines. Then again, it could come down a classic dealership truism that’s been around since before The Great Recession, and will remain true even after: once you drive off the lot and bond with the car and show it off to your friends, it’s hard for you to give it up.
No Need for Hyundai Assurance, Yet [Kicking Tires]