Hyundai is leading the auto-incentive pack once again. Beginning tomorrow, the South Korean automaker will launch their “Assurance Gas Lock” promotion, an incentive that will offer new vehicle buyers either a $1,000 cash rebate or the chance to lock in gas prices at $1.49/gallon for one year:

With gas prices at $2.70, someone driving a V6 Hyundai Sonata, one of its most popular models, for 12,000 miles over the course of a year would save about $580 with the gas price promotion, given the Sonata’s EPA-estimated 25 miles per gallon fuel economy in combined city and highway driving.

Read the rest of this entry »

In an attempt to not be outdone by their competitors, GM and Ford announced a consumer incentive today designed to cover their customers’ car payments if they lose their job. The American automakers are taking a cue from similar, ongoing incentives like Hyundai’s “Assurance Plus” program and AutoNation’s “Payment Protection” program.

The “Ford Advantage Plan,” which runs through June 1, is structured to cover payments of up to $700 a month for up to one year. GM’s incentive which runs through April 30 covers payments of up to $500 a month for nine months.

Read the rest of this entry »

The country’s largest auto retailer unveiled a new incentive this week that tops the “latest and greatest” program from Hyundai. AutoNation Inc. announced their “Payment Protection” program which pays six months worth of auto payments for consumers who have been laid off.

Hyundai’s “Assurance Plus” program, which was announced back in February, covered three months worth of payments, as well as allowed consumers to return their vehicle with no harmful damage to their credit.

Read the rest of this entry »

It seems Citigroup has taken a page from Hyundai’s book. Just as Hyundai’s “Assurance Plus” program temporarily pays customers’ monthly payments if they recently lost their job, Citi has announced a similar initiative that temporarily lowers their unemployed customers’ monthly mortgage payment:

Under the program, Citigroup will temporarily lower mortgage payments to an average of $500 a month for certain borrowers who have recently lost their jobs and are at least 60 days behind on their mortgage payments. Borrowers will be allowed to make the lower payments for three months. Citigroup will waive interest and penalties during this period.

Read the rest of this entry »