Hyundai’s Assurance plan, which goes back several years, cuts installment buyers some slack during Hard Times. And they’ve now opened it up to include furloughed Federal workers during the current, um, financial unpleasantness:
Hyundai Motor America [1 October] announces the latest addition to its Assurance program with the launch of a new payment deferral program aimed at helping federal employees furloughed during the government shutdown. Under the plan, Hyundai will defer all auto loan and lease payments during the shutdown for current Hyundai owners who are furloughed.
“We recognize the impact on family budgets that the furlough will drive,” said John Krafcik, president and CEO of Hyundai Motor America. “Like we did almost four years ago when we launched Hyundai Assurance, this is our way of saying ‘We’ve got your back’ during this uncertain time.”
Current owners in the Hyundai family will be provided relief from payments for as long as they are out of work. Furloughed employees who wish to buy a car in October will be offered a 90-day payment deferral.
Presumably the balance due will accrue interest during the deferral period, but this is still a seriously grand gesture.