Hyundai Assurance Program

[ponyo]

Just saw the commercial for their new trade-in program. They guarantee certain value for the car when you trade it in later for another Hyundai. Smart program by Hyundai. This could help with low resale value of Hyundai brand.

 

[Pulsar]

Uh-huh. I'd wager it's much like the incredible warranties they and kia give out that are absolutely impossible to actually use because of all the small-print....

There's a reason that their quality isn't good, their track record sucks, and their long term reliability is total ass. There's also a reason they're trying to jack it up with gimmicks like this.

 

[PhoKingGuy]

Uh-huh. I'd wager it's much like the incredible warranties they and kia give out that are absolutely impossible to actually use because of all the small-print....

There's a reason that their quality isn't good, their track record sucks, and their long term reliability is total ass. There's also a reason they're trying to jack it up with gimmicks like this.

Its funny you mention this, my friend had the transmission on her 03 Accent start failing in 09, Hyundai said it was due to abuse and denied her claim. Did I mention all she does is drive 20 miles round trip for work everyday?

She ended up trading it in to carmax and got the cash.

 

[brblx]

there are occasional cases when warranties and guarantees make sense to purchase (and yes, you always purchase them- sometimes its just built into the cost of the item). when you buy a $5-600 laptop from best buy and they offer you a year of accidental damage for under a hundred bucks, okay, maybe it's an okay move (worst case after 11 months you smash it with a hammer and get a new one). this is just generally so not the case with cars, though. i can often recommend extended automotive warranties so long as a) it's a good warranty that is as close to factory bumper to bumper coverage as is possible and b) it's reasonably priced. but long limited coverage one-owner powertrain warranties? no thanks. 'i hate this car' insurance? no thanks.

 

[Mermaidman]

Just saw the commercial for their new trade-in program. They guarantee certain value for the car when you trade it in later for another Hyundai. Smart program by Hyundai. This could help with low resale value of Hyundai brand.

Smart for Hyundai, stupid for consumers because
-You're locked into buying another Hyundai if you want to use the program.
-When you trade it in in the future, the Hyundai dealer knows you're stuck, so the dealer will probably be less likely to budge on the new Hyundai's price.

-I think it's only good if you trade in after 3 or 4 years. For most people, that is too frequent to make financial sense.

 

[Doppel]

I wonder if it only works if you do agree to buy the next Hyundai at MSRP. But as mentioned it does only work if you only buy another Hyundai. If you're ok with that it's not a bad thing.

 

[Smoove910]

Just don't buy a Hyundai, or look into the Assurance Program. Problem solved.