Hyundai is launching a payment deferral program to help its customers who are affected by the United States government shutdown.
"We recognize the impact on family budgets that the furlough will drive," John Krafcik, chief executive officer of Hyundai Motor America said in a statement according to USA Today. "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."
As part of its plan, the automaker is extending auto loans and lease payments to shutdown-affected Hyundai owners.
"Make no mistake about it: this is a pure PR play," Jessica Caldwell, an analyst at Edmunds.com told USA Today. "Hyundai has gone to great lengths over the years to identify itself as the car for the common man, and this furlough offer comes right out of that playbook. There isn't much risk, especially since it's unlikely that the government shutdown will last longer than a month."
Under the program, furloughed federal workers don't have to make payments since they are out of work. Also, employees who want to purchase a Hyundai this month will not have to make any payments on it for the next three months.
Hyundai's new program is their latest since its assurance job loss protection program which like the deferral plan, helps workers at a time when they need it most. According to USA Today, the company initially began the assurance program at the peak of the recession to give relief to customers who were let go from their jobs USA Today reported.
The deferral payment assistance program is available to any customer who has financed his or her purchase or lease through Hyundai Finance America, and is available to any customer who has financed his or her purchase or lease with the auto dealer.
