As car makers get more desperate to make sales, they are coming up with more and more to tempt the wary. Free financing, extended warranties and servicing and, in a couple of extreme examples, 2 for 1 offers.
But Hyundai has come up with another offer to tempt the reluctant. As well as the big warranty and roadside assistance they already offer (5 years in the UK, but even more in the U.S.) U.S. buyers are now being offered a get-out-of-jail-free card if they stump up for a new Hyundai.
The offer is very simple. Lose your job in the 12 months after you buy a new Hyundai, and Hyundai will take the car back. No questions. Nothing owed.
The biggest problem facing the economy, apart from the obvious lack of credit facilities, is consumer confidence. Paradoxically, lack of spending by consumers will make this recession much deeper and longer than it needs be. It’s understandable that people are wary, after all, the media is full of ‘We’re Doomed’ headlines. but the reality is that the vast majority of people, particularly those that are employed in the public sector, will actually be better off in this recession with prices falling left, right and centre.
So this move by Hyundai, although limited to the U.S. at the moment, is a good way to take away the confidence obstacle. After all, all good salesmen are taught that if you remove the objections to the sale then you win the customer.
Let’s hope a few dealers / manufacturers in the UK offer a similar deal soon.