{"id":2579,"date":"2011-03-30T18:51:35","date_gmt":"2011-03-30T18:51:35","guid":{"rendered":"http:\/\/blog.njstateauto.com\/hyundai\/hyundai-ends-job-loss-protection\/"},"modified":"2011-03-30T18:51:35","modified_gmt":"2011-03-30T18:51:35","slug":"hyundai-ends-job-loss-protection","status":"publish","type":"post","link":"https:\/\/www.njstateauto.com\/blog\/hyundai-ends-job-loss-protection\/","title":{"rendered":"Hyundai ends job-loss protection"},"content":{"rendered":"

Hyundai<\/a> is dropping its job-loss guarantee program, which gained national attention during the economic downturn, in a sign that the nation may finally begin to recover from the sky-high unemployment numbers of the past few years.<\/p>\n

The South Korean automaker introduced the Hyundai Assurance plan in January of 2009, according to the Detroit Free Press. Essentially, the automaker felt that many buyers were ready to make a purchase on a vehicle, but were worried about their job security in the tough economy. So Hyundai offered drivers an escape clause. If they financed or leased a vehicle and then lost their job within the first year of owning the car, Hyundai would take the vehicle back and the driver would be free of their financial obligation.<\/p>\n

It's tough to quantify how many people ended up buying a car because of the guarantee, but analysts say that the Assurance program at least partially accounted for the strong sales that Hyundai showed even during the economic downturn. Hyundai says that it ultimately took cars back from 350 people who lost their job.<\/p>\n

Now, however, Hyundai says that not many people are taking advantage of the program, which the automaker says is a good sign.<\/p>\n

"It's another small indication that things are getting a little bit better," spokesman Jim Trainor told the news source.<\/p>\n

Drivers interested in a Hyundai or any other vehicle may want to consider New Jersey State Auto<\/a> Auction, which offers a wide range of cars for sale<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Hyundai is dropping its job-loss guarantee program, which gained national attention during the economic downturn, in a sign that the nation may finally begin to recover from the sky-high unemployment numbers of the past few years. The South Korean automaker introduced the Hyundai Assurance plan in January of 2009, according to the Detroit Free Press. […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,22],"tags":[],"yoast_head":"\nHyundai ends job-loss protection<\/title>\n<link rel=\"canonical\" href=\"https:\/\/www.njstateauto.com\/blog\/hyundai-ends-job-loss-protection\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyundai ends job-loss protection\" \/>\n<meta property=\"og:description\" content=\"Hyundai is dropping its job-loss guarantee program, which gained national attention during the economic downturn, in a sign that the nation may finally begin to recover from the sky-high unemployment numbers of the past few years. The South Korean automaker introduced the Hyundai Assurance plan in January of 2009, according to the Detroit Free Press. 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