What Is Hyundai’s Buy-Back Program: What You Need to Know

If you are unhappy with your Hyundai car or have experienced repeated problems with it, you may be wondering if Hyundai will buy it back from you.

The answer is: it depends.

Hyundai does offer a buy-back program for certain cars that qualify under the lemon law or other warranty issues.

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Hyundai Sonata | Headquarter Hyundai

However, not every car is eligible for this program, and there are some steps you need to take to initiate the process.

Here is what you need to know about Hyundai’s buy-back program and how it works.

What is Hyundai’s Buy-Back Program?

Hyundai’s buy-back program is a way for customers to return their cars to Hyundai if they are dissatisfied with them or have encountered serious defects that impair their use, value, or safety.

The program is available for cars that are less than four years old and have less than 48,000 miles.

The buy-back offer is based on the condition of the car and subject to inspection.

The buy-back program is part of Hyundai’s Shopper Assurance, which is a set of features that aim to make car shopping simple and transparent.

Other features include flexible test drive, streamlined purchase, and transparent pricing¹.

 

How to Qualify for Hyundai’s Buy-Back Program?

To qualify for Hyundai’s buy-back program, your car must meet the criteria of the lemon law in your state.

The lemon law is a consumer protection law that requires manufacturers to repair or replace defective vehicles that cannot be fixed after a reasonable number of attempts.

The exact definition of a lemon car and the number of repair attempts vary by state, so you need to check your state’s lemon law before you proceed.

 

In general, you need to have the following documents and records to prove that your car is a lemon:

1.The original purchase or lease agreement

2.The vehicle identification number (VIN) of your car

3.The current mileage of your car

4.The repair orders and invoices from the authorized Hyundai dealer

5.The receipts for any expenses you incurred as a result of the defects, such as towing, rental, or lodging

6.Any correspondence or communication with Hyundai or the dealer regarding the defects

You also need to notify Hyundai of your intention to pursue a buy-back claim and give them a final opportunity to repair your car.

You can contact Hyundai’s Consumer Affairs department at 1-800-633-5151 or visit their website to file a complaint and request a case number.

How to Initiate Hyundai’s Buy-Back Process?

Once you have gathered all the necessary documents and records, and have given Hyundai a final chance to fix your car, you can initiate the buy-back process by contacting Hyundai’s Auto Solutions group at 1-800-633-5151.

They will review your case and determine if your car qualifies for the buy-back program.

If it does, they will generate a buy-back offer and send it to you for your approval.

The buy-back offer will include the following components:

1.The purchase price of your car, excluding any rebates, discounts, or incentives

2.A reasonable deduction for the mileage you drove on your car before experiencing the defects, based on a formula that varies by state

3.A refund of any sales tax and registration fees you paid at the time of purchase, depending on your state’s policy

4.A deduction of any outstanding loan balance or lease obligation on your car

5.A deduction of any damage or excessive wear and tear on your car, other than the defects

You can accept or reject the buy-back offer within a specified time frame.

If you accept it, you will need to sign a release agreement and return your car to the dealer.

Hyundai will then issue you a check for the buy-back amount and take possession of your car.

What are the Benefits and Drawbacks of Hyundai’s Buy-Back Program?

Hyundai’s buy-back program can be a beneficial option for customers who are unhappy with their cars and want to get rid of them.

Some of the benefits of the program are:

1.You can get a fair compensation for your car without going through a lengthy and costly legal process

2.You can avoid further frustration and inconvenience caused by the defects

3.You can use the buy-back amount to purchase or lease another car of your choice

However, the program also has some drawbacks that you need to consider before you decide to pursue it. Some of the drawbacks are:

1.You may not get the full amount you paid for your car, depending on the deductions and fees applied

2.You may lose the benefits of any warranties or service contracts you purchased for your car

3.You may have to wait for several weeks or months before you receive the buy-back offer and the check

4.You may have to deal with multiple parties and provide a lot of documentation and evidence to prove

What is the lemon law?

The lemon law is a consumer protection law that requires manufacturers to repair or replace defective vehicles that cannot be fixed after a reasonable number of attempts.

The lemon law applies to new or used cars that come with a written warranty and have serious defects that impair their use, value, or safety.

The exact criteria and remedies of the lemon law vary by state, so you need to check your state’s lemon law before you proceed.

Conclusion

Hyundai’s buy-back program is a way for customers to return their cars to Hyundai if they are dissatisfied with them or have encountered serious defects that impair their use, value, or safety.

The program is available for cars that are less than four years old and have less than 48,000 miles.

The buy-back offer is based on the condition of the car and subject to inspection.

To qualify for the program, your car must meet the criteria of the lemon law in your state, and you need to notify Hyundai of your intention to pursue a buy-back claim and give them a final opportunity to repair your car.

You also need to contact Hyundai’s Auto Solutions group to initiate the buy-back process and review the buy-back offer.

The program can be a beneficial option for customers who want to get rid of their defective cars, but it also has some drawbacks that you need to consider before you decide to pursue it.

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