Korean carmaker Hyundai, fresh off one of the best months in its history, has revealed the details of its new Hyundai Assurance Program, which offers buyers a set trade-in value at the time they purchase their car.
First announced at the New York Auto Show, last month, the Hyundai Assurance Program is the latest in a series of innovative marketing programs the Korean maker’s U.S. facility has launched in a bid to build brand awareness. It has also launched extended warranties and even offered to buy back vehicles from customers who lost their jobs during the recession.
The new program, which covers vehicles two to four years after purchase, will provide a set trade-in price based on the initial analysis of the Automotive Lease Guide. ALG’s numbers are routinely used to determine the residual values of leased vehicles. Residuals, in turn, help a maker like Hyundai decide how much to charge on a monthly lease.