| Q. |
How long does it take to complete a request for benefits? |
| A. |
On average, benefits have been paid within 35 calendar days from the date the request is first submitted. Prompt submission of your qualifying documentation is essential for timely processing.
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| Q. |
Can I continue to drive my car while my request is being processed? |
| A. |
YES. Your car and related financial obligations remain yours until your benefit is approved. Once approved, a benefit consultant will give you instructions for returning your vehicle.
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| Q. |
There is no equity in my car because I financed my taxes and put no money down. What if the benefit amount isn't enough? |
| A. |
In the case of more expensive vehicles, custom items or the financing of taxes and extras, the benefit amount may not be enough to cover the financing shortfall should you elect to return your vehicle. In this case, you would be required to make up the balance with your own funds.
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| Q. |
What proof do I need to provide for unemployment, transfer, etc.? |
| A. |
There are standard benefit requests forms that will be supplied to you for completion upon notification that you have experienced one of the covered circumstances. Additional information may be requested based on the circumstance, such as a termination notice or international job transfer notice, to document the circumstances.
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| Q. |
Can I get the coverage for more than 12 months? |
| A. |
The Hyundai Assurance program is provided for the first 12 months of your auto loan.
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| Q. |
Do I get a refund? |
| A. |
The Hyundai Assurance certificate is provided to you at no charge by Hyundai, so no refund is available.
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| Q. |
Is this kind of like a lease? |
| A. |
The Hyundai Assurance program is not a lease. It is a complimentary certificate provided to you at no charge to cover unforeseen life changing circumstances.
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| Q. |
Is this something I have to pay for? If so, what's the additional cost? |
| A. |
The Hyundai Assurance certificate is provided to you at no charge. There is no cost to you for Hyundai Assurance coverage.
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| Q. |
Who covers the depreciation of the vehicle? |
| A. |
In the event of a covered circumstance, Hyundai Assurance allows you to "walk away" from contractual obligations associated with the financing when negative equity exists. The program will cover a maximum benefit of $7,500.00 in negative equity.
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