For most people, the car-buying process is about as comfortable as a trip to the dentist — and it can sometimes last even longer. The mountains of paperwork and time spent haggling with salespeople can add hours to a dealership visit. Hyundai is hoping to change that with its new Shopper Assurance program, which the automaker says will streamline and modernize the car-buying experience.
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Shopper Assurance's four components are transparent pricing, flexible test drives, streamlined purchases and three-day money-back guarantees. Here's how each component works, according to Hyundai:
1. 'Fair Market Pricing'
In terms of transparent pricing, Hyundai says dealers will post the vehicles' "fair market" price on websites, which is the MSRP price minus applicable manufacturer incentives or dealer-offered discounts. Hyundai says this will give consumers a clearer picture of a vehicle's price as well as clear up the frustration and confusion often caused by advertised incentives not being displayed on dealerships' websites.
2. Test-Drive on Your Turf
The flexible test-drive component gives shoppers the option to schedule a test drive via a dealership's website, on the phone or through an app. The customer can also set the vehicle test-drive location to anywhere, including work and home.
3. Pre-emptive Paperwork
With the streamlined purchase factor, shoppers will be able to complete the majority of the car-purchase paperwork online before visiting a dealership, including applying for financing, obtaining credit approvals, calculating payment estimates and valuing trade-ins. Hyundai says this will considerably reduce the time shoppers spend filling out paperwork at the dealership.
4. Buyer's Remorse, Be Gone
Buyer's remorse is no problem with the three-day money-back guarantee. Drivers can return the vehicle for a full refund within three days of purchase as long as it was driven less than 300 miles during that time and passes a damage inspection.
The Shopper Assurance program will apply to all new Hyundai vehicles and launches today in Dallas, Houston, Miami and Orlando, Fla.; it will roll out to dealerships nationwide in early 2018.