Hyundai kills offer to buy back your car

2012 Hyundai Genesis
2012 Hyundai Genesis

Hyundai is not being Mr. Nice Guy anymore. Starting today, if you purchase a new Hyundai and then lose your job within a year, you’re just going to have to keep the car.

Back in 2009, Hyundai stared a new car buy-back program under which it offered to buy back a car from any Hyundai owner who involuntarily lost their job within one year of purchasing it. The program was offered when the economy was in a recession and auto sales were at their lowest. As a part of the program, Hyundai paid the difference between the car’s trade-in value at the time the owner filed to return the vehicle and any remaining balance on the auto loan up to $7,500.

Hyundai spokesman Jim Trainor said that during the lifetime of the program, 350 people took advantage of the offer.

He said that the┬áprogram just wasn’t piquing consumers’ interest the way it once did.

– By: Omar Rana

Source: CNNMoney