Shah Alam, 17 August 2009 – Tailored made for those who wish to buy a car via hire purchase but unsure of their job or business stability, Hyundai – Sime Darby Motors Sdn Bhd (HSDM) today introduced the Hyundai Assurance Programme (HAP).

HAP is available for all Malaysian citizens residing in Malaysia and has been developed specially for Hyundai car purchases who are worried about not being able to settle their monthly instalments should they lose their job or means of income during this time economic uncertainty.

“Should Hyundai car purchases lose their job within their first year of purchase, we allow them to return their vehicle and be relieved of their loan obligation subject to the terms and conditions in the agreement,” said Dennis Ho, Managing Director, Hyundai – Sime Darby Motors Sdn Bhd.

“We are the first company in the automotive industry to offer such an assurance programme,” he added.

Under the HAP scheme, customers can opt to surrender their vehicle to any Hyundai dealer. The vehicle will then be valued by three of HSDM’s panel dealers and upon their agreement of the re-sale value the customer shall surrender the vehicle in good order. HSDM will later settle the agreed amount sum from the outstanding loan amount subject to the sum assured. However, should there be an excess owing to the bank upon settlement under the programme, the customer must pay up the difference.

Also included under the HAP will be accidental death benefits within one year of purchase of the car.