Newest enhancement to their Assurance program will go even further to help car shoppers with poor credit who sign up for a car loan on a new Hyundai after May 16th of this year.
Our opinion
Car buyers with bad credit typically get the short end of the stick when it comes to the additional enhancements offered by a number of traditional auto loans.
At least that's our feeling here at Auto Credit Express where, for the past twenty years, we've been helping car buyers with questionable credit find those franchised new car dealers that can offer them their best chances for auto loan approvals.
It's also why we were pleasantly surprised by the latest addition to Hyundai's long-running Assurance program that was announced a week ago at the New York Auto Show.
Hyundai Assurance Program
If the name sounds familiar, it should. In January of 2009 in response to the recession, Hyundai was among a group of manufacturers that came out with an "assurance" program designed to protect consumers from "certain life-altering circumstances" such as job loss or medical issues. It worked this way: If a customer financed or leased a new Hyundai vehicle and experience one of 6 covered events, including job loss, within 12 months of purchase, they had the option of returning their vehicle and walking away from up to $7,500 of negative equity with no impact on their credit scores.
This program was in addition to Hyundai's fairly comprehensive new car warranty – also part of the Assurance Program and you can see where it would be especially helpful to buyers with less than perfect credit.
With the economy improving, Hyundai ended the return program in December of 2010.
New enhancements help credit challenged buyers
Last week during press days at the New York Auto Show Hyundai announced its latest enhancement to the program called Assurance Connected Care.
First of all, Hyundai's existing new car warranty includes a 5-year, 60,000 mile limited warranty, 5-year 100,000 mile powertrain warranty and 5 years and unlimited miles of 24-hour roadside assistance. Now, for those new vehicles equipped with Hyundai's Blue Link connected services, Hyundai will offer the following services, starting on May 16th, at no additional charge for the first three years:
Safety
• Automatic Collision Notification
• SOS Emergency Assistance
• Enhanced Roadside Assistance
Car Care
• Vehicle Diagnostics with Monthly Vehicle Health Report
• Maintenance Alert
• Automatic Diagnostic Trouble Code Notification
• Recall Advisor
• In-vehicle Service Scheduling
It should also be pointed out that Hyundai sells of some of the most affordable cars available in the U.S., making many of them an ideal vehicle for car shoppers with questionable credit.
Hyundai and poor credit buyers
One thing to keep in mind, however, is that not all buyers with poor FICO scores necessarily qualify for a new car.
We often get asked the question, "does Hyundai lend to people with bad credit?" For the most part, that really depends on which lenders a particular dealer is signed up with. This means that there may not be a Hyundai new car dealer near you that offers help to people with damaged credit.
That being said, if you do have bruised credit what's the best way find a dealer that is willing to help you?
Where to look
Glad you asked. At Auto Credit Express we specialize in helping applicants with problem credit find those dealers that can give them their best opportunities for approved auto loans.
So if you're ready to reestablish your car credit, you can begin now by filling out our online auto loans application.
