The savings from the program, called Gas Lock, could be substantial, at least from a percentage perspective - average fuel prices are about $2.70 right now, and many of the larger markets in the country are well over $3 already. Deliver gas at around half price is an attractive enticement for new car buyers that may not even be sure of their employment future.
“We’ve extended Hyundai Assurance to cover gas prices just as peak summer demand traditionally strains budgets further, guaranteeing most new Hyundai owners a year’s worth of low gas prices. It’s another way we show consumers that, in this downturn, we’re in this together, and we’ll get through it together,” said Joel Ewanick, vice president, Marketing, Hyundai Motor America.
Hyundai is already offering to let buyers walk away from their loan obligations through the Hyundai Assurance program if they should lose their job after buying a new Hyundai.
To get the discounted price, buyers just register a valid major credit car with Pricelock, a service cooperating with Hyundai to deliver the low price, and Hyundai will issue a new Assurance-branded card to use for fillups. The card is valid at 93% of U.S. gas stations, including all Exxon, Chevron, BP, Shell, Mobil, 76 and Texaco stations.
Pricing is $1.49 for regular unleaded, $1.64 for mid-grade, and $1.79 for premium. The program kicks off on new cars purchased between July 1 and August 31.