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Hyundai Announces Trade-In Guarantee

Posted: Apr 21, 2011 11:11 a.m.

You've likely heard that a new car loses its value as soon as you drive it off the lot. That may be true, but Hyundai is looking to provide new car shoppers with some reassurance. The automaker announced a trade-in value guarantee program yesterday. Autoblog reports, “The move falls under Hyundai's wide-spanning Assurance marketing scheme, and will give buyers a solid number to determine what their car will be worth two to four years down the line.”

The program lets buyers know exactly what their vehicle will be worth between 24 and 48 months of ownership, and guarantees that value if they decide to trade it in on a new Hyundai during that time. Hyundai is also putting the trade-in guarantee into effect quicker than you might think. “The program will be applied to all new vehicles purchased on or after May 1, 2011 at no additional cost to consumers,” says Hyundai in a press release.

The new guarantee will likely keep shoppers more informed when they’re deciding whether to buy or lease a car. Under normal circumstances, it’s difficult to put an exact number on how much a new car will depreciate. "Depreciation is a big unknown," John Krafcik, CEO of Hyundai Motor America told the Detroit News. "It's like giving one of the big benefits of leasing, but you're still owning the car."

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