FOUNTAIN VALLEY, Calif. -

While Hyundai recently halted its vehicle return program that allowed customers to bring a vehicle back if they lost their job, the automaker has apparently stepped up to replace this offering with a new gimmick. It is guaranteeing the trade-in values of their models for months 24 through 48.

The Hyundai Assurance Trade-in Value Guarantee is due largely in part to the automaker’s strong residual values, according to management. The guaranteed trade-in value is determined by the Automotive Lease Guide forecast of future value.

The program will be applied to all new vehicles purchased on or after May 1, at no additional cost to consumers.

All Hyundai vehicles sold in the U.S. are covered by the complimentary Hyundai Assurance program, which currently includes the five-year/60,000-mile fully transferable new vehicle warranty, Hyundai’s 10-year/100,000-mile power train warranty, five years of complimentary Roadside Assistance and now the Trade-in Value Guarantee, as well.

"Hyundai Assurance is a partnership with our owners in their purchase of a vehicle," explained John Krafcik, president and chief executive officer of Hyundai Motor America.

"Depreciation is the single highest cost of car ownership. While Hyundai’s depreciation is now among the lowest in the industry, Assurance will remove many of the barriers and concerns about vehicle ownership. Through Assurance, we share in our owners’ investment, and the Trade-in Value benefit extends this partnership from the initial purchase all the way through what we hope will be the consumer’s next purchase of another Hyundai,” he added.

Basically, at the time of trade-in, a customer’s vehicle will be assessed to determine the current market value which will then be compared to the guaranteed value. If the assessed value is higher than the guaranteed value, the customer will be able to apply that value toward the purchase of a new Hyundai vehicle. If the assessed value is less than the guaranteed value, the customer will be able to use the guaranteed value toward the purchase of a new Hyundai vehicle financed through Hyundai Credit, management explained.

At time of trade-in, the customer must show proof of vehicle maintenance at the recommended intervals through authorized Hyundai dealerships, officials pointed out. Coverage is only applicable when the current market value of a vehicle drops below the guaranteed trade-in value of the vehicle. Lease vehicles are not covered by the Trade-in Value Guarantee.

For a full list of eligibility requirements, visit: www.Hyundai.com.