CENTRAL OHIO -- Hyundai says it will cover the depreciation on any returned leased or financed vehicle for the first 12 months to some customers "who are stuck" and find themselves unable to make their car payments.
The "Hyundai Assurance Program" only applies to customers stricken by misfortune outside of their control. That could include loss of their job, becoming disabled or losing their driver's license for medical reasons.
Customers must also have made at least two payments on the car already. In addition, Hyundai will only refund the depreciation on the returned car up to $7,500.
One Hyundai executive says it's the company's way of dealing with the economic anxiety that has caused consumers to park their desires for a new car.
The recession has hit the carmaker hard. Its December sales in the U.S. fell 48 percent. Sales for all of 2008 declined 14 percent.
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