Since the US government shut down early this morning, more than 800,000 federal employees could be furloughed without pay until a deal is reached to start the government back up. To help affected employees cope with the temporary layoffs, Hyundai is expanding its Assurance program to defer all of their auto loan or lease payments until they're called back to work.

"We recognize the impact on family budgets that the furlough will drive," says John Krafcik, president and CEO of Hyundai Motor America. The automaker also says it will allow furloughed employees to buy new cars during October with help from a 90-day payment deferral.

We're sure Hyundai's act of goodwill relieves some of the stress that furloughed Hyundai owners and their families are experiencing. Check out the press release below.
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HYUNDAI ADDS NEW DIMENSION TO ASSURANCE PROGRAM WITH NEW FEDERAL EMPLOYEE PAYMENT DEFERRAL PLAN

COSTA MESA, Calif., October 1, 2013 – Hyundai Motor America today announces the latest addition to its Assurance program with the launch of a new payment deferral program aimed at helping federal employees furloughed during the government shutdown. Under the plan, Hyundai will defer all auto loan and lease payments during the shutdown for current Hyundai owners who are furloughed.

"We recognize the impact on family budgets that the furlough will drive," said John Krafcik, president and CEO of Hyundai Motor America. "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."

Current owners in the Hyundai family will be provided relief from payments for as long as they are out of work. Furloughed employees who wish to buy a car in October will be offered a 90-day payment deferral.

It is estimated that more than 800,000 workers will not get paid during the shutdown. Like the original Hyundai Assurance job loss protection program, the federal employee payment deferral plan is aimed at helping workers at a time when they most need it.


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    • 1 Second Ago
  • 46 Comments
      nolimit092
      • 1 Year Ago
      I am interested to see if these 'deferments' cover your interest as well. I wouldn't be surprised if the interest on your loan continues to accrue during the deferment period. So yeah, you don't have to make a car payment while you're out but you get to watch your balance due grow every month you don't pay.
      • 1 Year Ago
      [blocked]
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      • 1 Month Ago

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      chrismcfreely
      • 1 Year Ago
      Blatant desperate attempt for attention. Don't perpetuate crap like that ,Autoblog.
        vt8919
        • 1 Year Ago
        @chrismcfreely
        Regardless the motivation behind it, people who are furloughed will benefit from this.
          Gordon Chen
          • 1 Year Ago
          @vt8919
          How are furloughed employees taking on more debt? Their payments are being deferred. They don't pay more or less. The only thing that changes is the timeliness of the payments the Hyundai drivers were originally going to pay.
          Billy Farmer
          • 1 Year Ago
          @vt8919
          menel deferring car payments is not taking on more debt if you already own a hyundai and to be honest, what anyone does with their life is really none of your business, take care of yourself and dont worry about other people!
        askroon
        • 1 Year Ago
        @chrismcfreely
        I'm sure anyone who doesn't have to worry about a car payment til they get back to work doesn't see it as a blatant desperate attempt for attention. By the way, Hyundai doesn't need more attention - they have enough of that as it is. They are actually trying to be the one car company that cares about its customers. Bash Hyundai and John Krafcik all you like, it doesn't change the fact that they are trying to do something right in a world full of uncaring corporate entities.
          Billy Farmer
          • 1 Year Ago
          @askroon
          So true! watch ford follow suit though . Ford has a history of doing what hyundai has done with stuff like this and still no matter who or what car company, if it helps a worker getting no pay then great
      Neejay
      • 1 Year Ago
      Kudos to Hyundai...wow.
      William Flesher
      • 1 Year Ago
      Great PR move. And genuinely helpful to furloughed workers.
      Menel
      • 1 Year Ago
      Wow, WTF. Sounds predatory, like the subprime mortgage days. To all the people who aren't getting paid, and strapped for cash, straining your emergency savings. We'll offer you more incentive to get rid of your paid off car that's not costing you anything to go into debt on a value dropping turd-mobile.
      Dmitriy Markelov
      • 1 Year Ago
      Great PR move and even better than it can benefit those affected.
      mikemaj82
      • 1 Year Ago
      ahh to be a government employee. coast through life.
        Mobis21
        • 1 Year Ago
        @mikemaj82
        ...And you know this how?
        Paulevalence
        • 1 Year Ago
        @mikemaj82
        My father was a government employee. Nothing special, but a job nonetheless. He worked there for 29 yrs & 9 months until they fired him... 3 months before he would have gotten full retirement...
        Gordon Chen
        • 1 Year Ago
        @mikemaj82
        If you're upset with the government, blame the upper management not the bottom guys. They're only doing their job.
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