Hyundai takes money-back guarantee national

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Hyundai takes money-back guarantee national
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The car-buying experience is something that many people dread, but Hyundai is making some big changes so that it’s less of a hassle for customers.

We first told you about the automaker’s initiative called Shopper Assurance last October when it was launched in several cities.

RELATED: The top 15 cars that people keep for 15 years or more

4 changes Hyundai is making to the car-buying process

The program designed to streamline and modernize the car-buying experience is rolling out nationwide starting February 9. It involves four key changes to make the process easier:

  1. Transparent Pricing: Participating dealers post the market pricing (MSRP minus incentives and any dealer-offered discounts) on the dealer websites, so customers know exactly what the market pricing is for the vehicle. This can reduce the time it takes to negotiate a price and can eliminate the frustration of widely advertised incentives not being displayed on dealer websites.
  2. Flexible Test Drive: Customers are given the option to conduct a test drive for any new vehicle on their own terms through Hyundai Drive, a platform that allows the test drive to be scheduled by contacting the dealer on its website, by phone or by using a custom-built app. The selected test-drive vehicle can be delivered to a location of the customer’s choosing, such as their home, their office or a coffee shop.
  3. Streamlined Purchase: Allows car buyers to complete most of the paperwork online prior to visiting the dealership for a vehicle in the dealer’s inventory, reducing the total transaction time. This includes applying for financing, obtaining credit approvals, calculating payment estimates and valuing trade-ins.
  4. Three-Day Money Back Guarantee: Any customer who is not satisfied with their purchase is given a three business day period to return the car for a full refund, contingent upon a dealer inspection and the vehicle having fewer than 300 miles since the purchase/lease date. This turns potential second thoughts into peace of mind.

According to survey data, Hyundai reports that 94% of customers either loved or liked the car-buying process with the program, and 65% said their experience with Shopper Assurance was better than past car purchases.

“The positive response to Shopper Assurance exceeded our expectations and it’s clear that customers want a more convenient way to buy a car,” said Dean Evans, CMO, Hyundai Motor America, in a news conference at the Chicago Auto Show. “Shopper Assurance is a differentiator for Hyundai and significantly improves the perception of the brand and our dealers. It is now available nationally because of the dedication of our dealers to deliver the best experience possible and adapt quickly to changing buyer preferences with new technologies and innovation.”

Hyundai says Shopper Assurance is also a win for dealers. In the initial markets, participating dealerships outperformed national Hyundai dealers in sales growth.

Expect the majority of Hyundai dealers to participate in the program within the next few months. Find a list of dealers here.

RELATED: Buying gas from a station on this list is better for your car

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Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, Save on Almost Everything.
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