Lately, Hyundai has been advertising their “Assurance” program, in which they will make three of your monthly payments for you if you happen to lose your job after purchasing your vehicle. Assuming three months is not enough time to find a new job, you can return the car to Hyundai with no impact on your credit.
Ford, the only of the big three American automakers not to take any bailout money (yet), has taken a page from Hyundai’s playbook and is now doing one better. If you buy a new Ford and then lose your job, Ford will cover your monthly payments for up to twelve months. Yup, for a year. Up to $700 per month. They’re also offering no financing.
Of course, right now you have to have amazing credit just to get any kind of financing. But it’s nice to know that American companies are becoming a little more sensitive to the plight of struggling American workers.
