Coronavirus outbreak: Hyundai, Genesis will cover 6 monthly payments for customers who lose their jobs

Published March 16, 2020

Hyundai and its luxury brand Genesis are offering to cover new buyers’ car payments for up to six months in the event they lose their job in the wake of the economic disruption caused by the COVID-19 coronavirus outbreak.

(Hyundai)

The Assurance Job Loss Protection Program is a modified reboot of one the automaker instituted during the 2009 financial crisis that allowed customers to return their vehicles if they involuntarily lost employment.

CORONAVIRUS: WHAT YOU NEED TO KNOW

The new program applies to purchases and leases made between March 14 to April 30 at Hyundai and Genesis dealers that are financed through Hyundai Capital or Genesis Capital and currently applies to job losses incurred through Dec. 31.

In addition to the payment forgiveness, buyers of the Hyundai Santa Fe, Tucson, Elantra, Elantra GT, Kona, Venue and Accent during the same period can have their payments deferred for 90 days if they financed at 0 percent.

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