Hyundai offers recession-friendly promotion

WITH CAR SALES ABSOLUTELY TANKING IN THIS GREAT RECESSION -- AUTOMAKERS ARE PULLING OUT ALL T...  More »

WITH CAR SALES ABSOLUTELY TANKING IN THIS GREAT RECESSION -- AUTOMAKERS ARE PULLING OUT ALL THE STOPS TO GET YOU TO BUY. NOW ONE CARMAKER IS DOING SOMETHING UNPRECEDENTED -- OFFERING TO LET NEW CUSTOMERS'RETURN THEIR CARS IF THEY LOSE THEIR JOBS -- AND LETTING THEM OFF THE HOOK WITH THEIR PAYMENTS. ERIC KAHNERT IS LIVE AT LOMAS AND WYOMING WITH THE RESPONSE SO FAR -- ERIC. TODAY THE PHONES HERE WERE RINGING OFF THE HOOK FROM PEOPLE INTERESTED IN HYUNDAI'S NEW 'ASSURANCE PROMOTION.'WE SPENT THE NIGHT LOOKING INTO THE OFFER ... AND GETTING REACTION FROM LOCALS. 15:01 'you never know what's going to happen- 1' HARLEY WHITTINGTON WAS JUST LAID OFF FROM HIS JOB IN ALBUQUERQUE. HE'S A BIG FAN OF HYUNDAI'S NEW ASSURANCE PROMOTION -- WHICH SAYS IF NEW CAR BUYERS LOSE THEIR JOB WITHIN 12 MONTHS -- THEY CAN GIVE THEIR CAR BACK TO THE DEALERSHIP. 16:25 'i think that's good because if something does happen at least they're giving you the chance and not trying to make you pay for stuff you're trying to use to pay for your house you know.-8' 1:52 'it's an industry first, it's never been done before.-2' SOUTHWEST HYUNDAI GENERAL MANAGER TOM HORNBACK SAYS SINCE THE PROMOTION STARTED YESTERDAY, THEIR PHONES HAVE BEEN RINGING NON-STOP. 3:35 'it's almost like worry free buying, because if you buy the car, and it turns out you can't pay for it, if you lose your job or medically retired and can't pay for it, what do you do? In this case you bring it back and Hyundai takes care of it for you.-13'PEOPLE WHO BUY 2008 AND 2009 MODELS STARTING YESTERDAY QUALIFY. BUT THERE IS A CATCH -- AN OWNER WILL OWE THE DEALER THE DIFFERENCE IF HE RETURNS A CAR AFTER IT HAS LOST MORE THAN 75- HUNDRED DOLLARS IN VALUE. 14:19 'i think it's great.-1' GERALD RICHARDS MIGHT CONSIDER THE NEW PROMOTION NEXT TIME HE'S LOOKING FOR A CAR. 14:06 'my credit wouldn't get messed up if I have bad luck, and the way the economy is now we needs all the help we can get.-8' THE DEAL ALSO COVERS OWNERS WHO LOSE THEIR LICENSE FOR MEDICAL REASONS .... PEOPLE TRANSFERRED OVERSEAS -- LIKE MILITARY MEMBERS .... BANKRUPT BUSINESS OWNERS ... AND IT EVEN COVERS ACCIDENTAL DEATH. REPORTING LIVE IN NORTHEAST ALBUQUERQUE, EKEYWN4.  « Less