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Hyundai To Guarantee Future Trade-In Value Of Used Hyundai Vehicles

Posted on May 24, 2011

Launching May 1, Hyundai Motor Co. guaranteed the future trade-in valuation of its new cars.

What does this mean for Hyundai car shoppers?  For one, the confidence to purchase a Hyundai vehicle while holding the guaranteed protection against the depreciation of their Hyundai purchase.  The company can now assure their customers exactly what the trade-in values are going to be from the 2nd year of ownership all the way to the 4th year after purchase.  Granted, Hyundai is clear that the customer must provide documentation for the completion of every factory-recommended maintenance service in a Hyundai dealership.  The company assures precisely what the trade-in value of that automobile would be following the 2nd full year of ownership through the fourth year. In order to be entitled to the secured trade-in value, potential customers have to present confirmation that they have finished every factory-recommended vehicle upkeep in a Hyundai dealership. This program, known as Hyundai Assurance Trade-in Value Guarantee, will base the future trade in valuations on recurring values fixed by Automotive Lease Guide.

“Depreciation is the single highest cost of car ownership,” Hyundai CEO John Krafcik proclaimed in a announcement. “While Hyundai’s depreciation is now among the lowest in the industry, Assurance will remove many of the barriers and concerns about vehicle ownership.”

The trade-in guarantee offer comes quickly after Hyundai’s successful job-loss protection package campaign launched in 2009. The job-loss protection package was used to launch Hyundai Assurance in 2009. Quickly mimicked by other major automotive manufacturers such as Ford and General Motors, Hyundai has decided to take this program to another innovative level.

Hyundai dealers also have the high possibility of strengthening their dealership’s service retention. Top OEM’s such as Honda, Toyota, and Ford marginally lead Hyundai in this area. A guaranteed trade-in value means less remorse when driving a new Hyundai off the lot, and high incentive to return for all suggested service appointments.

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