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Buy A Car, Lose Your Job: No Problem!
photo credit: 小猫王
How would you get skittish consumers scared about losing their jobs to buy a new car? If you’re Hyundai Motor Company, you offer them the option to return the car within the first year without negatively affecting their credit.
“So many people have been reluctant to purchase a new vehicle for fear of what the future holds,” said Frank Psyhogios, general manager at Family Hyundai, where sales were down 5 percent last year. “This assuages those fears.”
The insurance program, which poses no risk to lenders, is available on all new Hyundai vehicles and open to everyone regardless of age or employment history, said Bob Ross, sales manager at Family Hyundai.
What insurance could you offer your customers?
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Angela on January 13th, 2009 12:40 pm
That’s a great strategy! Although, I would imagine that the company would lose if everyone decided to return the car before their year was up?
Jaclyn on January 13th, 2009 2:50 pm
I agree…not to mention i wonder how many customers still wont buy that vehicle for fear that their financial hazard will hit after the one year is up and then their still stuck with a car that they cant pay for and then it will go on their credit.
raidin on January 15th, 2009 1:07 pm
a great program. lander without risk, and is available on all new Hyundai vehicles
cassy on January 19th, 2009 1:20 am
very interesting post.if i where to ask about having a new car using my salary and my account in the bank, i will take my chance for it!
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