Hyundai and Genesis have confirmed they will handle up to six months of car payments for owners who lose their jobs due to the economic impact of the coronavirus.
In a statement, Hyundai said it will make up to six months of payments for owners who lose their jobs and purchase or lease a vehicle between March 14 and April 30, 2020 through Hyundai Capital. The South Korean marque will also offer select shoppers through April 30 the ability to defer payments for 90 days at the customer’s request.
Genesis added it too will make six months of payments for customers who purchase a new Genesis between March 14 and April 30, 2020 and defer payments for 90 days to those who buy a 2019 Genesis G70 by April 30.
“We understand the extreme uncertainty created by the coronavirus and the anxiety experienced by our customers, and wanted to tap into Hyundai’s legacy of having people’s back,” president and chief executive of Hyundai Motor North America José Muñoz said. “Bringing back the job loss protection program in this unprecedented time will allow our customers to have one less thing to worry about if something unexpected happens to their employment status.”
Hyundai models available for the 90-day deferred payment program include the Santa Fe, Tucson, Elantra, Elantra GT, Kona, Venue, and Accent.
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“At Genesis, we pride ourselves on consistently putting our customers’ needs first,” president and chief executive of Genesis Motor North America Mark Del Rosso added. “In these uncertain times created by the coronavirus and the general anxiety experienced in communities throughout America, we wanted to step forward for our customers and help alleviate at least some of the potential concerns they may have.”
The Hyundai Assurance Job Loss Protection program was first conceived by the car manufacturer in January 2009 as a response to the financial crisis.
