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Hyundai Entourage

Thinking of buying a new car soon but worried you may get laid off? Try a Hyundai. If you get laid off in the 12 months following the purchase of your Hyundai, the Hyundai Assurance Program allows you to return the car for a refund, no questions asked.

Despite the dismal performance of many other automakers this year, Hyundai Motor Co Ltd has actually seen an increase in sales and its dealers are seeing more profit than last year. With this in mind, Hyundai is considering extending the Hyundai Assurance Program, which has proven to be successful in several ways. The Assurance Program was intended to end at the end of this year.

The Hyundai Assurance Program was started in January of 2009. It is an incentive program that allows customers who have lost their jobs to return their Hyundai for a refund, no questions asked. The offer is good for up to 12 months and is for new cars only, with Hyundai refunding $7,500 of the depreciation. So far, there have been less than 75 returns with the program.

General Motors, Ford and others have copied the program and have created their own versions. General Motors has a program that allows buyers to return their new cars within 31 to 60 days of purchase. Ford also has a similar return program in place.

The Hyundai Assurance Program was put into motion to help improve sales and it has. The company has expanded its market share and increased sales in one of the worst years for automotive sales, which Hyundai credits to the Assurance Program.

Hyundai sales in the United States have risen two percent in the first nine months of this year over last year’s numbers. The overall U.S. number of auto sales fell almost 30 percent. This made Hyundai one of the few auto manufacturers to increase its sales more than last year’s numbers. There are about 785 Hyundai dealers total in the United States with most or all of them making more profits than last year.

Hyundai intends to keep a good thing going without making many changes. Besides continuing with the Assurance Program, the company doesn’t intend to jump into the hybrid circle anytime soon. Hyundai is currently sitting in the No. 3 fuel economy brand position, averaging about 28 to 29 miles per gallon. The company's goal is to become No. 1 above Toyota and Honda and plan on getting there by tweaking current systems to make them more fuel efficient.

Making the decision to purchase a brand new vehicle in these economic times is made easier by companies like Hyundai with its Hyundai Assurance Program.

Why does it seem like Hyundai is on a roll? Because Hyundai has a “high value” approach to standard equipment and a commitment to quality, which all work together to create a sense of security for today’s buyers.

And, Hyundai’s July sales figures show this trend with a 21 percent increase over last month and a 12 percent increase compared with July 2008. Sales from the “cash for clunkers” program, says Hyundai, accounted for 22 percent of Hyundai’s sales for July.

“The combination of increasing consumer recognition of Hyundai’s industry-leading quality, and the incremental stimulus from the Cash for Clunkers program, led to our second-best July ever,” says Dave Zuchowski, Hyundai Motor America’s vice president of national sales.

I wrote a story several months back about how the Hyundai brand was a “hot buy.” Today, with the federal government rebate program in its second round of funding and with Hyundai’s killer warranty as well as Assurance and Gas Lock programs, this may be the best time ever to buy a Hyundai. (I know that sounded cliché, but it really is true.)

The Hyundai Assurance Program has boosted this Korean car maker’s sales since this first-of-its-kind program was put in place early this year. The program allows consumers to walk away from their credit obligation provided there’s a real adverse life event or financial shortfall such as getting laid off from your job.

The Hyundai Assurance Gas Lock guarantees a year’s worth of gas at just $1.49 per gallon on most Hyundai models leased or purchased through Aug. 31, 2009. This reduced gas program complements Hyundai’s job-loss assurance program as well as Hyundai’s 10-year, 100,000-mile warranty.

In the past, Hyundai made a name for itself with what it claims is America’s Best Warranty. Today, this coverage is even better and includes bumper-to-bumper protection for five years (or 60,000 miles). In addition, Hyundai tacks on a 10-year/100,0000-mile powertrain and a seven-year/unlimited mileage anti-perforation warranties.

Plus, Hyundai throws in free, no deductible 24-hour roadside assistance coverage for five years and with no mileage limit, which includes emergency towing, lockout service and even some coverage for trip interruption expenses.

Hyundai says the “cash for clunkers” program is even having a positive impact across all sectors of the automotive industry. For example, Hyundai plants in Alabama have returned to a five-day work week after having cut hours back in October.

“The (CARS) program is good for the environment, cuts oil dependency, saves consumers money and is good for the economy – and our dealers have a great lineup of vehicles perfect for customers looking for safe and energy-efficient transportation,” says Zuchowski.

As a road test reviewer, I have driven lots of Hyundai vehicles. In fact, I’m driving a super cool 2009 Hyundai Tucson this week and I just LOVE it. Hyundai is just a quality car brand that really is on a roll. Catch that Hyundai ride!

Sheryll Alexander is a lifestyles writer based in Costa Mesa, Calif. Follow me! @sheryllalexande