They say nothing is more important than family, especially in uncertain times. In response to the recent world events, we’ve taken steps to protect our family with Hyundai Assurance. So, we’re covering up to six months of payments for Hyundai owners who purchased or leased a Hyundai vehicle between March 14 and May 17, 2020 if they lose their job due to COVID-19 this year.
We’re doing what we can to help out our current owners who lose their jobs or experience medically-related hardships due to COVID-19 before April 30, 2020. With our Global Health Crisis Relief program, Hyundai Motor Finance can defer up to 3 months payments (in one month increments).*
Qualifications:
6 Month Payment Relief
Up to 6 months of payments available to the buyer of any new Hyundai model financed or leased at participating dealers only through Hyundai Motor Finance between March 14 and May 17, 2020. Payments up to $600 per month (and $3,600 per 6 month period) are available for loss of job caused by COVID-19 through December 31, 2020. Restrictions apply and proof of job loss required. See a Patrick Hyundai Client Advisor for details.
*Global Health Crisis Relief
We understand that times like these can cause a lot of uncertainty, so to help ease your concerns, we are pleased to offer additional support for impacted customers. We invite you to visit our special Global Health Crisis Relief page to learn more about the relief options available to you, our valued customers.
The 6 month payment relief plan is available to purchasers of any new Hyundai vehicle financed or leased through Hyundai Motor Finance.
The plan is only available to purchasers who finance or lease through Hyundai Motor Finance.
Unfortunately, only vehicles purchased or leased between March 14 and May 17, 2020 qualify for the plan.
The plan is open to customers who purchase or lease any new Hyundai vehicle.
Currently, the plan only applies to new Hyundai vehicles.
The plan is available to any qualified buyers who finance or lease through Hyundai Motor Finance.
Yes. The plan covers payments up to $600 per month and up to $3,600 for the full benefit payable over 6 months.
The benefits available under the plan are limited to those customers who suffer COVID-19 Related Job Loss.
This means as a result of the COVID-19 virus, your employer permanently terminates your position.
The Borrower who purchased or leased the new Hyundai vehicle under the plan.
To qualify for protection under the plan, the following requirements must be met: (a) You must be involuntarily unemployed as a result of a COVID-19 Related Job Loss for at least 30 consecutive days; (b) You must receive unemployment benefits for a period of unemployment for which you are making a claim under this plan and (c) You must be presently working thirty (30) or more hours per week, not be self-employed and have been employed at least ninety (90) days prior to becoming involuntarily unemployed as a result of a COVID-19 Related Job Loss. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under the plan. If it is determined that you do not meet the eligibility requirements herein, You will not be eligible to receive a benefit under this plan. Please review the below sections for additional details.
We will pay: (a) up to six (6) payments; or (b) until You discontinue receiving unemployment benefits for any reason; or (c) You regain employment; whichever is earlier. The maximum benefit You can receive under the plan is $600 per month and $3,600 in total.
Benefits will not be provided under the plan protection if Your job is terminated because: (a) You retire; (b) You quit or resign Your employment for any reason; (c) You lose Your employment due to (i) willful or criminal misconduct; (ii) a normal, routine or seasonal shut-down; (iii) a strike, lockout, or labor dispute; (iv) war or any act of war, whether declared or undeclared, (v) end of seasonal employment; (vi) You continue to receive income from Your employer, (vii) Your employment is scheduled to resume within the first 30 days of being unemployed, (viii) You were aware that You were going to be unemployed prior to the effective date of Your retail installment contract or lease agreement.
To obtain benefits under the plan, You must notify us of a COVID-19 Related Job Loss within 30 days after the occurrence of the COVID-19 Related Job Loss, and provide the documentation or information required by us at the time of Your claim and throughout the period for which a payment benefit is being made. You must be able to prove the COVID-19 Related Job Loss to our satisfaction. If Your delay in filing a claim prevents us in any way from determining eligibility under the plan, or if You intentionally conceal or misrepresent any material fact relating to a claim, no benefit will be issued.
You must report Your becoming involuntarily unemployed under the plan within thirty (30) days and provide any documentation necessary to validate Your unemployment claim, including completing an Employment Verification Authorization form with Your employer. Failure to do so will result in an otherwise valid claim being denied.
During the time it takes to process Your request for benefits, You are responsible for making Your monthly payment by the due date.
The plan expires if: Your loan is paid off or refinanced; Your vehicle is repossessed; six (6) payments are made on Your behalf or when the Plan terminates on December 31, 2020.
The plan will make Your payments from the time You are approved for up to the next six (6) months, even if that period extends into 2021.
You may be subject to federal, state and local taxes on the amount of any loan payments made on your behalf. Hyundai, or the Plan Administrator, do not provide You with guidance on the tax implications, if any, of a paid debt.
You may telephone 877-746-0566, send an email to [email protected] or write to Insurian Administration Group, LLC, 18 Augusta Pines Drive, Suite 220, Spring, TX 77389.
