HYUNDAI ADDS NEW DIMENSION TO ASSURANCE PROGRAM WITH NEW FEDERAL
EMPLOYEE PAYMENT DEFERRAL PLAN
COSTA MESA, Calif., October 1, 2013 Hyundai Motor America today
announces the latest addition to its Assurance program with the launch
of a new payment deferral program aimed at helping federal employees
furloughed during the government shutdown. Under the plan, Hyundai
will defer all auto loan and lease payments during the shutdown for
current Hyundai owners who are furloughed.
"We recognize the impact on family budgets that the furlough will
drive," said John Krafcik, president and CEO of Hyundai Motor
America. "Like we did almost four years ago when we launched
Hyundai Assurance, this is our way of saying 'We've got your back'
during this uncertain time."
Current owners in the Hyundai family will be provided relief from
payments for as long as they are out of work. Furloughed employees who
wish to buy a car in October will be offered a 90-day payment
It is estimated that more than 800,000 workers will not get paid
during the shutdown. Like the original Hyundai Assurance job loss
protection program, the federal employee payment deferral plan is
aimed at helping workers at a time when they most need it.