It's a tough time for automakers — industry sales in January were down a striking 37 percent — but Hyundai managed to finish the month 14 percent above its sales from the same time last year. The company can thank its marketing team for such success; it's no coincidence that the positive numbers coincide with the month they rolled out their walkaway program.
The original program allowed buyers to return their cars if they endure a life-changing event (including involuntary job loss) within one year of purchase, and now the company is expanding the program to put buyers even more at ease. Starting this week, if you lose your job Hyundai will offer to absorb your car payments up to three months, while you keep the car and look for a new job. If you still don't have an income after three months, you can return the car and won't be on the hook for any additional payments.
Due to Hyundai's outstanding performance in January, we can expect other automakers to piggyback on the company's idea. With more Americans fearing their jobs are at risk and the auto industry struggling more each month, it seems like the best way to help both parties.