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Hyundai Guarantees Trade-In Value

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author photo by Autotrader April 2011

Hyundai touts its Assurance warranty program as the best in the business – and it just got a little bit better. On Thursday, the South Korean automaker announced the introduction of the Assurance Trade-In Value Guarantee, which allays any fears Hyundai buyers may have about excessive depreciation by providing a guaranteed trade-in value.

The program, which supplements the automaker’s 5-year/60,000-mile bumper-to-bumper warranty and 10-year/100,000-mile powertrain coverage, guarantees new-car buyers a specified trade-in value for their car in months 24 through 48 of ownership, provided they’ve maintained it consistently at authorized Hyundai dealerships.

Not surprisingly, the trade-in value – which Hyundai says is made possible by its continually-improving resale values – is only applicable towards a new Hyundai financed through Hyundai Credit, the automaker’s in-house lending arm. An exception is made in cases where the car is actually assessed at a higher value than the original guarantee. In such cases, cars are treated like typical trade-ins without any limitations.

“Hyundai Assurance is a partnership with our owners in their purchase of a vehicle,” said John Krafcik, Hyundai Motor America’s president and chief executive. “Depreciation is the single highest cost of car ownership. While Hyundai’s depreciation is now among the lowest in the industry, Assurance will remove many of the barriers and concerns about vehicle ownership.”

Hyundai says that the guaranteed trade-in value is determined by California-based Automotive Lease Guide, a company that sets industry standards for residual value forecasts. The program, which goes into effect for all new Hyundais purchased after May 1, 2011, doesn’t cost customers anything, falling under the umbrella of Hyundai’s standard Assurance program.

“Through Assurance, we share in our owners’ investment, and the Trade-In Value benefit extends this partnership from the initial purchase all the way through what we hope will be the consumer’s next purchase of another Hyundai,” added Krafcik.

Hyundai’s star remains on the rise in the US, with sales and market share continually on the upswing. In addition to announcing the Trade-In Value Guarantee at this year’s New York International Auto Show, the automaker also debuted its all-new 2012 Accent, displaying the newest iteration of its smallest car in both sedan and five-door hatchback bodystyles.

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Hyundai Guarantees Trade-In Value - Autotrader