Contact: Chris
Hosford
Hyundai Motor America
(714)
965-3470
chosford@hmausa.com
Kevin Oates
Ketchum
(310) 584-8331
kevin.oates@ketchum.com
Jeff Beaver
EFG
Companies
(972)
445-8336
jbeaver@efgusa.com
Hyundai teams with
WALKAWAY USA
to Offer Consumers ONE-OF-A-KIND Vehicle Return PROGRAM
FOUNTAIN VALLEY, Calif., January 2, 2009 – Hyundai Motor
America announced today an agreement with WALKAWAY USA, LLC to offer consumers unique
financial protection in this uncertain economic environment called the
“Hyundai Assurance Program.” Beginning today, Hyundai will provide
a private label version of WALKAWAY® Protection for Automotive Financing as
a complimentary 12-month vehicle return program provided on every new Hyundai
that is financed or leased at participating dealers. WALKAWAY USA, LLC is a
wholly-owned subsidiary of EFG Companies, a Dallas-based, national performance management
company serving the retail automotive industry.
The Hyundai Assurance Program expands the
protection offered through “The Hyundai Advantage: America’s
Best Warranty,” which has provided 10-year, 100,000-mile powertrain protection to Hyundai owners for a decade. The Hyundai Assurance Program is
complimentary for one full year, covers all Hyundai models and is available to
everyone.
“In this uncertain economy, we are
looking for ways to reassure shoppers that Hyundai still represents the best value
in the auto industry,” said John Krafcik,
acting president and CEO, Hyundai Motor America. “Our agreement with
WALKAWAY allows us to offer a unique form of financial protection in all 50
states for the first time by an automaker.”
The Hyundai Assurance Program, the first
of its kind for an automaker in the U.S.
auto industry, will be offered to Hyundai exclusively by WALKAWAY USA. WALKAWAY USA holds the exclusive U.S. distribution license to the WALKAWAY
program originated in Canada.
Since its introduction in Canada
in 2000, WALKAWAY has made it possible for consumers to walk away from over $35
million in automotive-related debt and has provided WALKAWAY retailers with a
competitive sales advantage.
“We are pleased to collaborate with
Hyundai in offering this program through an automaker for the first time in the
United States,” said
Paul Budvitis, president of WALKAWAY USA, LLC. “WALKAWAY is one of
the most innovative products to hit the auto-finance marketplace, addressing
consumers’ most pressing challenge to purchasing a new car in
today’s economy.”
The Hyundai Assurance Program complements America’s
Best Warranty as standard protection on new vehicles financed or leased from a
participating Hyundai dealer, and supplements all existing consumer incentives.
The program is available to any consumer, regardless of age, health, employment
history or financed amount of the vehicle. The program is complimentary for the
first 12 months of the financing or lease date for vehicles financed through
Hyundai Motor Finance Company and other third-party lenders and financing
sources.
For more details about the Hyundai Assurance Program,
please visit www.HyundaiUSA.com or www.HyundaiAssurance.com.
About WALKAWAY USA, LLC
WALKAWAY USA,
LLC (www.walkawayusa.com) is a
division of EFG Companies (www.efgcompanies.com), an
industry leader in providing innovative performance management solutions and
technologies to the retail auto industry. WALKAWAY USA markets and administers
WALKAWAY® Protection for Automotive Financing. WALKAWAY is the First and
Only Vehicle Return Program™ that protects consumers from financial
shortfalls arising from the depreciation of new and used vehicles (negative
equity).
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif.,
is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed
throughout the United States
by Hyundai Motor America and are sold and serviced through more than 790
dealerships nationwide.
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