Lose Your Job, Return Your Car
Does the poor state of the economy have you worried about that next big purchase? Do you want that new car but find yourself thinking “what if”? Have you read the stories about banks suing people who they lent money to for car loans because the value of their repossessed car was in the red? Well, if these concerns sound familiar perhaps auto maker Hyundai has a solution for you. According to MSNBC Hyundai has a new policy that will last the year, that policy states that if a customer loses their job, they can return the car they bought:
“The program is available for one year on all remaining 2008 and new 2009 models.
Since every new customer qualifies, Hyundai hopes it’ll convince people to sign on the dotted line.
Tom Hollett says “they’re looking for a good product and a good warranty, and something that gives them good piece of mind that the product they own at a fair payment is going to deliver.”
Would a sales pitch similar to this one make you more apt to buy a car or less apt? I think it could go either way. Some people might view the policy as working in their favor and getting rid of some of their fears. Others might think of it as just a reminder that things can really go wrong. Either way, it will be very interesting to see the end results.
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