I couldn't imagine any car company doing this but this is what I heard about Hyundai so Im checking to see if there's any truth to it. Apparently with Hyundai, when you buy a brand new car, if you're not satisfied with the car you can return it for a full refund as long as you've put less than 300 miles on the car. I don't know if there's any truth or accuracy to that claim but that's a claim I've heard. It wouldn't make sense to do that as the company would be losing money. When you buy a new car, as soon as you drive it off the lot of the dealership its blue book value goes down and the more miles you put on it the more its blue book value decreases but as soon as you drive it off the lot the blue book value is less than what it was before you bought it. So for a company to give you a full refund for a car that you've so much as driven off the lot, much less put 300 miles on it, they're giving you all your money back for a car that's worth less than before you bought it. So it's silly that Hyundai would do that and suffer a financial loss whenever somebody returns a car for a full refund, if there's any amount of truth to them doing that.
I can imagine the boiler plate might say 300 miles or less for free, as long as you buy another car from us. There's plenty of markup so that they could still recoup the cars registration stain
Hyundai doesn’t do this, their dealers may. This is a dealer thing. Ford, and Nissan dealers are some of the others that do this. Always check the fine print. And realize what one dealer offers may not be the same, or exist at all, at another dealer. I had that offer at Tesla. It may be a state thing, or it may just be good business?
Even though you may get 300 mi, you don't get to necessarily do that at just a couple miles per day until the miles finally get used up months later. They will often set limit of just three, four, maybe five days or so .
Don't let FACTs get in the way of what you've heard. It's a specific dealership ONLY sales tool. Watch the fine print!!! I'm pretty sure there's a walk away penalty clause; if you don't buy another car from them. They gotta keep the lights ON and they wouldn't be able to afford it if everyone in town drives their cars for 300 miles then returns them and gets a full refund. What Hyundai and Kia do offer is 10 year 100K power-train warranty, again watch the fine print!!!! This ONLY applies to the original purchaser. If you buy it used; YOU DO NOT get that warranty, so if the power-train blows up at 89K miles your SOL!!!! Again a sales tool. Look at the aggressive discounts for those used brands - you think people would be selling them cheap if they're reliable and trouble free? Just my 2-cents.....
Well why would any dealer do it? Giving somebody a full refund for a car that they've driven off the lot is going to be a financial loss for you so why would any dealer want to suffer a financial loss like that? The smart thing to do would be to only give a refund up to the blue book value of the returned car, which decreases once the car leaves the dealership and more so with the more miles put on it.
Number one, depending on what you're doing with the car it's possible to easily put well over 300 miles on a car within a day or less, for instance if you're going on a long road trip. Number two, even if most people don't put that many miles on their cars within a few days it would still be silly to give a full refund for a car that has left the dealership. As soon as a car leaves the dealership its value goes down so giving a full refund any time after that would mean a financial loss.
It's real, with many caveats. "Under the 3 Day Worry-Free Exchange, a customer who purchases or leases a new Hyundai vehicle from a participating dealer may return the Hyundai vehicle for any reason to exchange it for another new Hyundai vehicle, provided that: 1) the Hyundai vehicle is returned to the dealership where the vehicle was purchased or leased within three (3) days from the date of purchase/lease (with the three-day period being extended by one day if the final day of the three-day period falls when the dealership is closed); 2) the returned vehicle is in “like new” condition (e.g., the automobile has not been in an accident and is free from modifications, dents, scratches, tears, breaks, cracks, stains, etc.) as determined by the dealer in its discretion; 3) the customer has driven the returned vehicle less than 300 miles from the date of purchase/lease; and 4) the returned vehicle is free from any outside lien. If the returned vehicle meets all of these requirements, the customer may exchange it for another new Hyundai vehicle, subject to the mutual agreement of the customer and dealer on the terms of the new vehicle purchase or lease. Additional costs may apply to exchanges for a vehicle of greater value. See participating Hyundai dealers or Hyundaiusa.com/ShopperAssurance for details." Hyundai Shopper Assurance | Hyundai USA I've seen similar programs at used car dealer chains.
Yes there's lots of legalese to keep people from abusing this. But beyond that? The dealer is really just saying that they're good at weeding out un-serious buyers, and that might be the whole truth. The ultimate catch is that bit where "...Additional costs may apply to exchanges for a vehicle of greater value." Hint: they are going to make absolutely certain that you exchange for something of greater value. Whatever they lose on the first car racking up 299 miles is absolutely getting tacked onto the price of whatever you swap for. Dealers call this situation an "un-wind" and they are a regular occurrence. They just don't usually turn it into a marketing campaign.
Thanks guys for the deep dive.... I knew there was no way anyone was going to get a 100% refund; unless it was some sort of government program. LoL, one web page states it's a "Three-Day Money Back Guarantee*:"; you drop into the terms and conditions page it changes to a "3-Day Worry-Free Exchange" LoL......
I can't tell if that was a joke. That would be a question for each individual states' consumer protection bureau; but I'm pretty sure the lawyers got those purchase contracts pretty well sewn up.
