Coronavirus is changing everything.
The coronavirus pandemic is not only making people sick, but it has forced the near shutdown of the economy. While some employees are able to work from home, countless others simply cannot. With their companies closed and paychecks not guaranteed, many people could encounter financial difficulties. Making new car and lease payments have suddenly become more difficult. Fortunately, Hyundai and Genesis want to help their customers. The South Korean automakers have just announced a Job Loss Protection program to help support their customers affected by the business and financial environment created by this pandemic.
Here's how it works: both brands will make up to six months payments for new owners who lose their jobs and purchase or lease a new vehicle between March 14 and April 30. For select new purchases on specific models, the automakers will defer payments for 90 days if the customer requests. Customers must also finance through Hyundai Capital and/or Genesis Finance to be eligible for these offers.
"We understand the extreme uncertainty created by the coronavirus and the anxiety experienced by our customers, and wanted to tap into Hyundai's legacy of having people's back," said Jose Munoz, CEO and President of Hyundai North America.
"At Genesis, we pride ourselves on consistently putting our customers' needs first," said Mark Del Rosso, President and CEO, Genesis Motor North America. "In these uncertain times created by the coronavirus and the general anxiety experienced in communities throughout America, we wanted to step forward for our customers and help alleviate at least some of the potential concerns they may have."
This isn't the first time Hyundai has helped its customers in a time of need. Back in 2009 during the height of the Great Recession, the automaker offered a program to customers allowing them to return their financed or leased vehicles within one year if they lost their jobs. Not only did many customers take advantage of this, but it also created immense goodwill between them and Hyundai.
When the economy later recovered, those customers didn't hesitate where to buy or lease their next car. A true class act.