Hyundai announced its new Shopper Assurance program Tuesday to make the process of buying a car easier for customers. Many people dislike the standard auto sales process, so Hyundai is addressing this issue in four important ways.
Participating dealers will post fair market pricing on their websites, clearly spelling out what customers can expect to pay with all incentives and dealer discounts included. These are often hidden when dealers list cars by their MSRP and are only revealed during the negotiation process. This looks like the dealer is giving the customer a break when it is only giving the discount they already planned to give. Hyundai's "transparent pricing" eliminates this practice, giving customers a fair price to start negotiations.
Through Hyundai Drive, customers can schedule test drives online, through an app or over the phone. They can also arrange the car to be brought to a location of their choosing, such as their home or work, rather than going to the dealer to take a test drive.
Many other parts of the purchase process will be able to be handled online as well. Much of the time-consuming paperwork involved with buying a car will be handled online rather than at the dealer for the customer's convenience. This includes tedious but necessary tasks such as applying for financing, obtaining credit approvals, calculating payment estimates and valuing trade-ins.
If, after going through this entire process and buying a car, the customer decides he or she doesn't like it, Hyundai will offer a three-day guarantee where they will buy the car back at full price. This depends on a dealer inspection and putting less than 300 miles on the car during that time, but is still a good safety net for customers who may not be entirely sure that this is the car for them.
"For nearly a decade, the word 'Assurance' has been synonymous with Hyundai and represents our efforts in redefining the car ownership experience," said Dean Evans, chief marketing officer, Hyundai Motor America, in a press release. "Shopper Assurance is the next step in that tradition and is car buying made simple. We expect this to be a differentiator, as our research showed that 84 percent of people would visit a dealership that offered all four features over one that did not. It is the future of car buying, and our commitment to creating a flexible, efficient and better way to purchase a car in partnership with our dealer body."
Shopper Assurance will first launch in Miami, Orlando, Dallas, and Houston before going nationwide early next year. Evans hopes to get around 700 of Hyundai's 820 dealers onboard with the voluntary program, reports Automotive News. Genesis, Hyundai's luxury brand, will offer a similar program starting next year, likely with even more features.