In times like these, there is something to be said of a company who goes above and beyond for its customers. Hyundai is doing something that has never been done before in the auto industry. The Korean automaker says that if you purchase a car from the company, and lose your job within 12 months of purchase, you can return the car with few strings attached.

How does it work? Well it’s pretty simple, really. Hyundai says participants must have made at least two scheduled payments on their loan or lease. They must also be current on all payments and pay for any outstanding balance above a $7,500 benefit amount. The consumer returns the vehicle to the dealer, who then resells it. “The consumer avoids further financial obligation or negative impact to his/her credit,” Hyundai said in a later statement.

“We understand consumers’ hesitance to commit to large purchases in today’s economic environment,” said John Krafcik, acting president and CEO of Hyundai Motor America, calling the new program an offshoot of Hyundai’s warranty program, but one that now covers “consumers’ employment status and personal finances.”

Whether or not the program works for Hyundai remains to be seen. Though not something that will make or break a purchasing decision for most, the assurance that you can fall back on something like this should something happen to your income is quite comforting. If it starts taking off be sure to notice all the Korean manufacture’s competitors following suit. An innovative program like this could put Hyundai on the shopping list of a lot more consumers.

Source: Inside Line