Hyundai Defers Car Payments for Federal Employees During Government Shutdown


  • Hyundai Logo Picture

    Hyundai Logo Picture

    Hyundai rolled out its new federal employee payment deferral plan in the wake of the government shutdown. | October 02, 2013

Just the Facts:
  • Hyundai is launching a car payment deferral program for federal employees who aren't working because of the government shutdown.
  • 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, Hyundai Motor America CEO.

COSTA MESA, California — Hyundai is launching a car payment deferral program for federal employees who aren't working because of the government shutdown.

Hyundai will defer all auto loan and lease payments during the shutdown for current Hyundai owners who are furloughed. The program is available to customers who have purchased or leased vehicles through Hyundai Finance America.

"We recognize the impact on family budgets that the furlough will drive," said John Krafcik, Hyundai Motor America CEO, in a statement. "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."

Furloughed employees who want to buy a Hyundai in October will be offered a 90-day payment deferral.

The plan is the latest twist in the Hyundai Assurance program, which gave relief to people who had lost their jobs in the recession.

It is estimated that more than 800,000 workers will not get paid during the shutdown.

Edmunds says: A pure PR play, but one with little risk to Hyundai, since the shutdown is not expected to last longer than a month.

Comments

  • reminder reminder Posts:

    Interest-free would be a smart move. That could boost future sales. Good business & PR.

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