As retailer desperation reaches a fever pitch and discount signs pop up everywhere, here’s something a little different:
With Hyundai’s Assurance Program, if you lose your job, you can return your car to the dealership.
Any automaker could have done this, but they haven’t—yet. And Hyundai did it first.
Not only will this drive word of mouth, it positions Hyundai as a company that cares—not just another automaker desperately trying to move metal.
What’s more, this is simply smart business:
When someone starts missing payments, what happens? Collection calls are followed by legal notices, and eventually the gets a visit from the repo man and their car gets to ride the hook. Ultimately, the customer is demoralized and the creditor loses money.
With this program the car is returned without incident, the customer retains their dignity and Hyundai is the good guy.
I think it’s brilliant.
But what do you think?
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