Last summer when gas hit $4 a gallon, Chrysler rolled out a unique incentive program that locked in $2.99 a gallon gas prices for a year. That was a relative bargain at the time, especially if you lived in states with higher gas prices like California or Illinois. However, gas quickly returned to sub-$3 prices in the fall, and consumers who opted for the gas plan were left with a worthless incentive.

This summer, gas prices have yet to break the $3 point nationally — although they have in many places like Chicago — but that isn’t stopping Hyundai from offering a similar incentive, $1.49 a gallon for a full year when you buy a new car. It’s doubtful that we’ll see sub-$2 gas anytime soon and sub-$1.50 gas is even more unlikely, so this price seems like a good deal.

Just like the Chrysler plan, Hyundai’s Assurance Gas Lock isn’t without a catch. If you opt for the cheap gas you give up most of the traditional cash incentives, which for some Hyundai models are quite significant. However, the company says depending on the model purchased there will be some form of rebate available on top of the gas deal. We’ll bring you the full list of offers when they become available.

Gas Lock applies to Accent (excluding base model), Tiburon, Elantra, Elantra Touring, Entourage, Sonata, Azera, Santa Fe, Tucson and Veracruz. Hyundai points out that most of these vehicles will qualify for the new Cash for Clunkers program as well, which would lead to either a $3,500 or $4,500 cash incentive from the government. Theoretically, giving shoppers both cash-back and gas incentives.

The program starts Wednesday and runs through Aug. 31.