trade in value guarantee

[nextcar]

About a month after getting my Genesis, Hyundai mailed me a certificate, the Hyundai Assurance guarantee that lists the prices I can get when I trade in my car. There were different prices listed based on the age of the car, but there was no mention of the car's mileage, which I thought was strange.

Has anyone actually traded in their Hyundai using this certificate, or understand how mileage is factored in?

 

[Junkie49]

About a month after getting my Genesis, Hyundai mailed me a certificate, the Hyundai Assurance guarantee that lists the prices I can get when I trade in my car. There were different prices listed based on the age of the car, but there was no mention of the car's mileage, which I thought was strange.

Has anyone actually traded in their Hyundai using this certificate, or understand how mileage is factored in?

Hit up hyundaiusa.com. It does say less any applicable mileage charges or damage costs.

LINK: http://www.hyundaiusa.com/assurance/trade-value.aspx

I am assuming 12k-15k a year. It will be the same thing as lease I guess.

 

[nextcar]

thanks for the link.
yes, under the FAQ section, it does mention that the prices are guaranteed for mileage less than 15k miles/year, assuming there is no abnormal wear or damage.

 

[Mark_888]

Looks to me like the Trade-In Guarantee has some serioius limitations:

Qualifications for a Benefit under this Guarantee
You must satisfy each of the following requirements to qualify for a benefit:

1. You must trade-In your purchased vehicle on the purchase of a new Hyundai motor vehicle at a participating dealership during the eligible trade-in period.

2. Your adjusted trade-in value guarantee must exceed the assessed value of your purchased vehicle provided to you by your participating dealership.

3. You must provide proof of your ownership of the purchased vehicle on the trade-in date.

4. The purchase of your new Hyundai vehicle must be financed by Hyundai Capital America. This guarantee does not assure that you will qualify for a loan from Hyundai Capital America, and no benefit is available under this guarantee if you do not qualify for a loan from Hyundai Capital America.

5. You must provide proof that all scheduled maintenance has been performed at a Hyundai dealership prior to your trade-in date. The Hyundai dealership that sold you the purchased vehicle will maintain records of the maintenance that it performs. For other Hyundai dealerships, you are responsible for retaining all maintenance and repair records.

6. Program Start Date: May 1, 2011

http://www.hyundaiusa.com/assurance/terms-conditions.aspx

 

[LA Genesis]

The part about service is tricky. It seems like we need to do ALL scheduled maintenance at Hyundai dealerships. That would include things like tire rotations--which I've never done at a dealer due to high prices. Looks like brakes and tires can be bought elsewhere since they are not scheduled maintenance items. I think this guaranteed trade-in value thing is overrated.

Will you pay dealer prices for tire rotations and other scheduled maintenance service just to keep this trade in guarantee?

 

[Mark_888]

The part about service is tricky. It seems like we need to do ALL scheduled maintenance at Hyundai dealerships. That would include things like tire rotations--which I've never done at a dealer due to high prices. Looks like brakes and tires can be bought elsewhere since they are not scheduled maintenance items. I think this guaranteed trade-in value thing is overrated.

Will you pay dealer prices for tire rotations and other scheduled maintenance service just to keep this trade in guarantee?

Since 1987, when interest on car loans no longer was tax deductable, I have paid cash for my cars, so number 4 would rule me out, even before I worry about maintenance.

 

[LA Genesis]

I've been fortunate enough to pay cash also. But with .9% financing my decision to finance this time was a no brainer. The bigger question for me will my next car be a Hyundai? I like changing things up. And if I have any more radio/nav issues (or if mine don't get fixed) my next car will not be a Hyundai.

 

[tompass]

When I purchased my '11, there was a dealer incentive if I financed that was passed on to me. Financed minimum amount for one month and paid it off. Something to consider.

 

[PMCErnie]

What does it mean? It means that anybody who trades in his car on a sale always gets shafted, regardless.

 

[iqjumpuw]

Are those percentages based on your purchase price or MSRP?

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[Ruissimo]

Are those percentages based on your purchase price or MSRP?

They're based on MSRP. Which is nice... 'cause depending on model, you could save up to $7 large off sticker, yet the trade in is on the higher value.

Still, even if you save $7k, say on an R Spec... that translates to about $3,500 additional bling in your wallet after 3 years. Not bad.

Then again... if you sell the car yourself, you'll probably be better off. Time will tell.

 

[traveler1]

Re: trade in value guarantee certificate

I bought a brand new 4.6L Genesis on September 28, 2011. Have never received a certificate listing the dollar amount of the trade-in value.
Hyundai Customer Service says the certificate comes from the dealer, the dealer says it should come from Hyundai USA.
Who can I contact to get the certificate?
(Some folks I know say they got their certificate from Hyundai Corp, not from their dealer.)

 

[nextcar]

Re: trade in value guarantee certificate

I bought a brand new 4.6L Genesis on September 28, 2011. Have never received a certificate listing the dollar amount of the trade-in value.
Hyundai Customer Service says the certificate comes from the dealer, the dealer says it should come from Hyundai USA.
Who can I contact to get the certificate?
(Some folks I know say they got their certificate from Hyundai Corp, not from their dealer.)

i can't remember who mailed it, but it came within 1-2 months of purchase.

 

[LA Genesis]

Mine came from either Hyundai USA or Hyundai Motor Finance. It definitely did not come from the dealer.

 

[Ruissimo]

I'm going on two months... still nothing.

 

[BacktoHyundaibychoice]

I'm going on two months... still nothing.

It really doesn't matter if you get a letter or not. The values are listed here. Note that the sedan is NOT getting this next year, read that recently.

http://www.hyundaiusa.com/assurance/trade-value.aspx

 

[Ruissimo]

It really doesn't matter if you get a letter or not. The values are listed here. Note that the sedan is NOT getting this next year, read that recently.

http://www.hyundaiusa.com/assurance/trade-value.aspx

Pretty sure the Genesis sedan and Equus are still in the program, but all other models were dropped. No?

 

[BacktoHyundaibychoice]

Pretty sure the Genesis sedan and Equus are still in the program, but all other models were dropped. No?

I thought I read the opposite, but you may very well be right.
Didn't pay much attention to it as I'll be 'trading in' my lease on a new Equus in Jan, 2014. I'm expecting positive equity ala the Genesis I traded from.

 

[ImInPA]

Actually, these programs are all marketing maneuvers. If you read the fine print on the 10/100 power train warranty, it is only good as long as the replacement cost does not exceed the value of your vehicle. A new Tau 4.6 installed costs approximately $15k. If your 10 year old Hyundai is not worth $15k the power train warranty does not apply. It is good marketing, but, these assurances and warranties are far more sizzle than steak.

 

[037]

not to bump an old thread, but the values were removed from the website and now list an email link.

I guess Hyundai is turning their back on this pretty soon after the whole thing started hoping the original owners who qualified never find their certificates (if you even received it).

I thought this program was the best thing even when it came out as it would artificially boost resale values and drive up Hyundai loyalty. I guess someone decided it was too expensive after all.