Proving it is increasingly clever and aggressive, Hyundai will honor Car Allowance Rebate System (CARS) credits at its dealers nationwide, well ahead of then the National Highway Traffic Safety Administration (NHTSA) is expected to have sorted out the program details. Technically, the law states the program began July 1st, though NHTSA was given about three weeks to develop the process to ensure dealers are reimbursed, cars crushed, and fraud averted. Hyundai is providing funds to its dealers, providing the CARS cash in the interim. (Read: "Ready to Go Car Shopping? Obama signs Car Allowance Rebate System into Law.")
In May, Hyundai research showed that 11 percent of car buyers delayed their purchases until the CARS legislation was resolved. This strategy positions Hyundai to get a sales boost from the pent up demand from current owners of gas-guzzlers seeking the significant funds to put toward a new, more fuel-efficient model.
Under the CARS program, consumers qualify for a $4,500 rebate on the purchase or lease of new vehicles that achieve 10 miles per gallon more than a trade-in car or five miles per gallon or more than a trade-in light truck. New vehicles that achieve between 4 to 9 mpg more than a trade-in car, or 2 to 4 mpg more than a trade-in light truck qualify for a $3,500 incentive. A total of 13 Hyundai models and engine combinations qualify for the CARS incentive program, including the Accent, Elantra, Elantra Touring, Entourage, Sonata, Genesis Coupe, Tiburon, Tucson, Sante Fe, and Veracruz variants.
In addition, Hyundai continues to offer its job-loss protection program, Hyundai Assurance, 10-year/100,000-mile warranty, and new Hyundai Assurance Gas Lock, which offers a year's worth of gas at a guaranteed price of $1.49 per gallon.
Research Hyundai models in our new car buyer's guide, and see our Hyundai reviews.
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