24 Cars blue Sky: Hyundai Assurance Plus: Hyundai expands on Assurance incentive

The Hyundai Assurance program, which allows customers to return their Hyundai vehicle if they lose their job, has already been proven to attract new buyers to the Korean brand. Today, Hyundai announced that it will expand on the program with the new Hyundai Assurance Plus.
What does the “Plus” give an owner of a new Hyundai? [...]

What does the “Plus” give an owner of a new Hyundai? Under the Hyundai Assurance Plus, Hyundai will add 90 days of payment relief to the existing protection plan while the owner of the car looks for work. The new program pays the lender a lump sum equal to 90 days of the loan or lease payment.

The new Hyundai Assurance Plus program will be offered from Feb 23 to April 30.

Check out all the details after the jump.

To qualify for Hyundai Assurance benefits, consumers must have made at least two scheduled payments on their loan or lease, be current on all payments and have been employed for at least 90 days prior to filing for the benefit. Consumers who utilize their payment relief benefit can still return their vehicle within a year of the qualifying event under the terms of the program. This payment is not pro-rated and never has to be re-paid, even if the owner regains health and/or returns to work inside the 90-day period. The total payment relief benefit provided to an owner will be deducted from the Hyundai Assurance maximum benefit of $7,500 if the vehicle return option is exercised.

Covered circumstances for Hyundai Assurance include:

· Involuntary unemployment

· Physical disability

· Loss of driver’s license due to medical impairment

· International employment transfer

· Self-employed personal bankruptcy

· Accidental death

Payment relief benefits under Hyundai Assurance Plus are available in the event of:

· Involuntary unemployment

· Physical disability