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New Federal Employee Payment Deferral Plan 90 days to 1st payment


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 extend 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 deferral.

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. The program is available to any customer who has financed his or her purchase or lease through Hyundai Finance America.
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Program Dates: October 2, 2013 – October 31, 2013

New vehicle must be financed through. HMF Low APR or Customer Choice programs. Defer 1st payment for up to 90 days. All new 2013 and 2014 Hyundai vehicles. Must be a US Government employee and provide evidence of furlough (contractors are not eligible). Eligible terms up to 60 months with the 1st monthly payment due 90 days from the contract date. Subsequent payments will be due on each monthly anniversary of the contract date thereafter. Interest is assessed from the contract date.

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