Hyundai launches Assurance Trade-in Value Guarantee
04-20-11, 02:20 PM
#1
Lexus Fanatic
Thread Starter
Hyundai launches Assurance Trade-in Value Guarantee
HYUNDAI ASSURANCE EVOLVES TO FEATURE ALL-NEW GUARANTEED TRADE-IN VALUE
http://www.autoblog.com/2011/04/20/h...tee/#continued
Renewing its industry-leading focus on consumer protection, Hyundai today announced the introduction of the all-new Hyundai Assurance Trade-in Value Guarantee. The Guarantee is a direct result of Hyundai's sensitivity to consumer preferences and is made possible by the strength of Hyundai's residual values, now among the highest in the industry.
This newest addition to the Assurance suite of programs eliminates concern about depreciation by giving Hyundai owners a guaranteed value for their vehicle in months 24 through 48 of ownership. The program will be applied to all new vehicles purchased on or after May 1, 2011 at no additional cost to consumers. Because of the exceptional quality of its vehicles, Hyundai offers more car for the money now, and more money for the car later, under this guaranteed trade-in program.
All Hyundai vehicles sold in the U.S. are covered by the complimentary Hyundai Assurance program, which currently includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile power train warranty, five years of complimentary Roadside Assistance and now Trade-in Value Guarantee.
"Hyundai Assurance is a partnership with our owners in their purchase of a vehicle," said John Krafcik, president and CEO, Hyundai Motor America. "Depreciation is the single highest cost of car ownership. While Hyundai's depreciation is now among the lowest in the industry, Assurance will remove many of the barriers and concerns about vehicle ownership. Through Assurance, we share in our owners' investment, and the Trade-in Value benefit extends this partnership from the initial purchase all the way through what we hope will be the consumer's next purchase of another Hyundai."
Hyundai Assurance Trade-in Value Guarantee is valid for all new cars sold through participating U.S. Hyundai dealerships. The guaranteed trade-in value is determined by the Automotive Lease Guide (ALG) forecast of future value. Customers can trade in their qualifying vehicle towards the purchase of a new Hyundai vehicle during months 24 through 48 of ownership. At the time of trade-in, the customer's vehicle will be assessed to determine the current market value and compared to the guaranteed value. If the assessed value is higher than the guaranteed value, the customer will be able to apply that value toward the purchase of a new Hyundai vehicle. If the assessed value is less than the guaranteed value, the customer will be able to use the guaranteed value toward the purchase of a new Hyundai vehicle financed through Hyundai Credit.
At time of trade-in, the customer must show proof of vehicle maintenance at the recommended intervals through authorized Hyundai dealerships. Coverage is only applicable when the current market value of a vehicle drops below the guaranteed trade-in value of the vehicle. Lease vehicles are not covered by the Trade-in Value Guarantee.
For a full list of eligibility requirements, please visit: www.Hyundai.com.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile power train warranty, 5-years of complimentary Roadside Assistance and the Hyundai Trade-in Value Guarantee.
http://www.autoblog.com/2011/04/20/h...tee/#continued
Renewing its industry-leading focus on consumer protection, Hyundai today announced the introduction of the all-new Hyundai Assurance Trade-in Value Guarantee. The Guarantee is a direct result of Hyundai's sensitivity to consumer preferences and is made possible by the strength of Hyundai's residual values, now among the highest in the industry.
This newest addition to the Assurance suite of programs eliminates concern about depreciation by giving Hyundai owners a guaranteed value for their vehicle in months 24 through 48 of ownership. The program will be applied to all new vehicles purchased on or after May 1, 2011 at no additional cost to consumers. Because of the exceptional quality of its vehicles, Hyundai offers more car for the money now, and more money for the car later, under this guaranteed trade-in program.
All Hyundai vehicles sold in the U.S. are covered by the complimentary Hyundai Assurance program, which currently includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile power train warranty, five years of complimentary Roadside Assistance and now Trade-in Value Guarantee.
"Hyundai Assurance is a partnership with our owners in their purchase of a vehicle," said John Krafcik, president and CEO, Hyundai Motor America. "Depreciation is the single highest cost of car ownership. While Hyundai's depreciation is now among the lowest in the industry, Assurance will remove many of the barriers and concerns about vehicle ownership. Through Assurance, we share in our owners' investment, and the Trade-in Value benefit extends this partnership from the initial purchase all the way through what we hope will be the consumer's next purchase of another Hyundai."
Hyundai Assurance Trade-in Value Guarantee is valid for all new cars sold through participating U.S. Hyundai dealerships. The guaranteed trade-in value is determined by the Automotive Lease Guide (ALG) forecast of future value. Customers can trade in their qualifying vehicle towards the purchase of a new Hyundai vehicle during months 24 through 48 of ownership. At the time of trade-in, the customer's vehicle will be assessed to determine the current market value and compared to the guaranteed value. If the assessed value is higher than the guaranteed value, the customer will be able to apply that value toward the purchase of a new Hyundai vehicle. If the assessed value is less than the guaranteed value, the customer will be able to use the guaranteed value toward the purchase of a new Hyundai vehicle financed through Hyundai Credit.
At time of trade-in, the customer must show proof of vehicle maintenance at the recommended intervals through authorized Hyundai dealerships. Coverage is only applicable when the current market value of a vehicle drops below the guaranteed trade-in value of the vehicle. Lease vehicles are not covered by the Trade-in Value Guarantee.
For a full list of eligibility requirements, please visit: www.Hyundai.com.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile power train warranty, 5-years of complimentary Roadside Assistance and the Hyundai Trade-in Value Guarantee.
04-20-11, 03:07 PM
#2
Guest
Posts: n/a
Seems like a good way to keep your customers when you are scared of them trying your product out, realizing its not as great as fanbois advertise and you want to go back to something else or try something else new.
It also helps with concerns about Hyundai resale value which is historically laughable.
They really are trying to get people to come and stay with the brand...the warranty, the lost job program in the past, this assurance....got to give them credit.
Some important tidbits
It also helps with concerns about Hyundai resale value which is historically laughable.
They really are trying to get people to come and stay with the brand...the warranty, the lost job program in the past, this assurance....got to give them credit.
Some important tidbits
If the assessed value is less than the guaranteed value, the customer will be able to use the guaranteed value toward the purchase of a new Hyundai vehicle financed through Hyundai Credit.
t time of trade-in, the customer must show proof of vehicle maintenance at the recommended intervals through authorized Hyundai dealerships. Coverage is only applicable when the current market value of a vehicle drops below the guaranteed trade-in value of the vehicle. Lease vehicles are not covered by the Trade-in Value Guarantee.
04-20-11, 03:21 PM
#3
Lexus Fanatic
If my memory is right, Hyundai has done this guaranted trade-in program before, though I don't recall exactly when.....but it wasn't too long ago.
They also had, as Mike noted above, a program that dealt with those who had lost jobs or otherwise couldn't keep the monthly-payments up.
They also had, as Mike noted above, a program that dealt with those who had lost jobs or otherwise couldn't keep the monthly-payments up.
04-20-11, 03:34 PM
#5
Lexus Test Driver
Is this like the Best Buy trade in program? 
I recall my wife getting rid of her Hyundai and once she found out what it was worth at only 4-5 years old she said they should have give buyers a bottle of KY and a a diagram of how to bend over as well when it comes time to sell.
I recall my wife getting rid of her Hyundai and once she found out what it was worth at only 4-5 years old she said they should have give buyers a bottle of KY and a a diagram of how to bend over as well when it comes time to sell.
04-20-11, 09:21 PM
#6
Lexus Fanatic
Thread Starter
They are doing anything to gain the trust of the consumer. I don't see anything wrong with that. business is business. In terms of resale I am sure its getting better based on the quality of the current product. I think they are on the right track and many of us will be surprised to see where they end up over the next decade
04-20-11, 09:39 PM
#7
Lexus Fanatic
IMO I think that focusing on better products and quality is far more effective at making consumers confident about resale value in long run.
I view this program as a gimmick that has somewhat negative implications ( I doubt my view is popular here on this topic)
I view this program as a gimmick that has somewhat negative implications ( I doubt my view is popular here on this topic)
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04-20-11, 09:45 PM
#9
Guest
Posts: n/a
Is this like the Best Buy trade in program?
I recall my wife getting rid of her Hyundai and once she found out what it was worth at only 4-5 years old she said they should have give buyers a bottle of KY and a a diagram of how to bend over as well when it comes time to sell.
I recall my wife getting rid of her Hyundai and once she found out what it was worth at only 4-5 years old she said they should have give buyers a bottle of KY and a a diagram of how to bend over as well when it comes time to sell.
it used to be really bad..I remember a friend that bought a 1st gen Sportage..it of course sucked and they tried to trade it in a month later....value dropped 50% in a month
I remember my crappy Hyundai and I don't care if they give free lap dances and gold jackets today, they should have built good products back then. I've moved on and very happy clearly.
04-20-11, 11:16 PM
#10
Lexus Test Driver
Most of these programs are carefully designed and thought out to help the manufacturer, not the customer. A good example of this is Hyundai's previous program which was to bail out those who lost their job. When all is added up and totalled, very few people qualified for this. Yet Hyundai brought in increased sales because of the many paranoid people who thought they'd want the blanket. Very good marketing. GM and Chrylser have a similar scam. Chrysler allows you to return your car within a certain amount of days if you are unhappy. How many people actually did this? Very very few. How many people bought a Chrysler because of the ad? Plenty. $$$ for the company. Hyundai is playing the same sneaky game.
05-30-11, 12:54 PM
#11
Lexus Fanatic
It only applies to new purchases....not leases. The car also has to be Hyundai-maintained at a dealership.
Here is the latest fine print on the deal......from the Hyundai web site:
http://www.hyundaiusa.com/assurance/trade-value.aspx
Know your car’s future trade-in value, today.
Purchasing a new vehicle is one of life’s big events. You want to know everything you can about the true value of your options. But at the time of purchase, how can you know the future trade-in value of the vehicle you are considering?
Introducing the Hyundai Assurance Trade-In Value Guarantee. A program that future-proofs the value of your new Hyundai by guaranteeing today exactly how much it will be worth, two, three, or four years from now.
Hyundai: Impressive value today. Guaranteed value down the road.
How the Hyundai Trade-in Value Guarantee works:
At the time of purchase, customers will be provided with an assessment of the vehicle’s future value for months 24 through 48, based on an independent source. This is the guaranteed value.
When customers return to purchase a new Hyundai during months 24 through 48 of ownership, they can trade-in their qualifying vehicle towards the purchase of a new Hyundai vehicle.
At the time of trade-in, the customer’s vehicle will be assessed to determine the current market value. This current market value will then be compared to the guaranteed value.
- If the vehicle is worth less than what we guaranteed, the customer will receive the higher guaranteed trade-in value amount, less any applicable mileage charges or damage costs.
If the vehicle is worth more than what we guaranteed, the customer will receive the higher amount. Win-Win.
The higher of either the guaranteed value or the current market value can be applied to the purchase of a new Hyundai. The guaranteed value must be applied towards the purchase of a new Hyundai financed through Hyundai Motor Finance (HMF) and only when a customer shows proof of all required vehicle maintenance at authorized Hyundai dealerships.
Legal
Program applies to new vehicle purchases. Lease vehicles do not qualify for the benefit. Terms and conditions subject to change.
Here is the latest fine print on the deal......from the Hyundai web site:
http://www.hyundaiusa.com/assurance/trade-value.aspx
Know your car’s future trade-in value, today.
Purchasing a new vehicle is one of life’s big events. You want to know everything you can about the true value of your options. But at the time of purchase, how can you know the future trade-in value of the vehicle you are considering?
Introducing the Hyundai Assurance Trade-In Value Guarantee. A program that future-proofs the value of your new Hyundai by guaranteeing today exactly how much it will be worth, two, three, or four years from now.
Hyundai: Impressive value today. Guaranteed value down the road.
How the Hyundai Trade-in Value Guarantee works:
At the time of purchase, customers will be provided with an assessment of the vehicle’s future value for months 24 through 48, based on an independent source. This is the guaranteed value.
When customers return to purchase a new Hyundai during months 24 through 48 of ownership, they can trade-in their qualifying vehicle towards the purchase of a new Hyundai vehicle.
At the time of trade-in, the customer’s vehicle will be assessed to determine the current market value. This current market value will then be compared to the guaranteed value.
- If the vehicle is worth less than what we guaranteed, the customer will receive the higher guaranteed trade-in value amount, less any applicable mileage charges or damage costs.
If the vehicle is worth more than what we guaranteed, the customer will receive the higher amount. Win-Win.
The higher of either the guaranteed value or the current market value can be applied to the purchase of a new Hyundai. The guaranteed value must be applied towards the purchase of a new Hyundai financed through Hyundai Motor Finance (HMF) and only when a customer shows proof of all required vehicle maintenance at authorized Hyundai dealerships.
Legal
Program applies to new vehicle purchases. Lease vehicles do not qualify for the benefit. Terms and conditions subject to change.
Last edited by mmarshall; 05-30-11 at 01:01 PM.
05-30-11, 05:45 PM
#12
Pole Position
05-30-11, 09:14 PM
#13
Lexus Fanatic
Hyundai didn't get to where they are today, though, by marketing, even with things like the 10/100 and 5/60 warranties and the buy-back/trade-in/resale value promotions. They simply had to build better vehicles....and, after 2000, they did.
05-30-11, 09:37 PM
#14
Lexus Fanatic
I'm glad you believe it's not a gimmick (and you know it's marketing), somebody is bound to. My original comment still stands above, because I do appreciate strong resale value that doesn't need gimmicks (such as Lexus vehicles for example).
05-30-11, 09:40 PM
#15
Lexus Fanatic
Agreed, in today's market, product matters.