In our current economic situation, it is hard to get by with a new car. Many companies such as Hyundai, Ford, and GM are starting to pay car payments for people who have recently lost their jobs.

      Hyundai has “people’s back” in this difficult financial period in the United States. If someone buys a new Hyundai and if in the next year or so they lose their job, they will let the custumer return the car for no cost and no damage to their credit score. In the new Hyundai Assurance plan, whcih was recently expanded, customers who lose their job will get their car payments paid off for three months until “they get back on their feet.” If, in three months, the customer doesn’t have a job or a good flow of income, they can return the car and their credit score won’t be impacted.

      Ford wants to “boost consumers’ buying” and “rebuild the American economy.” They plan to do this with their new plan, the Ford Advantage Plan. The new plan will cover payments for up to 12 months on any new Ford, Lincoln, or Mercury vehicle if a customer loses his or her job. Payments will be paid for vehicles with payments as high as $700 per month. The program started on March 31, 2009 and the offer will last until June 1, 2009.  Zero percent financing is also available through Ford Motor Credit on select Ford, Lincoln, or Mercury vehicles.

      GM is also offering a financial plan like the two above. Their Total Confidence Program will let customers lose their job and have their cars paid for nine months. The company of GM will pay up to $500 each month. This program is offered for customers who qualify and is offered from April 1, 2009 through April 30, 2009. Skyler Dietrich, a sophomore, said, “I hope this program works because I think their cars are really pretty!”

      In a financial situation like ours’, getting a new car and being able to pay for it is difficult for many people. Hyundai, Ford, and GM have created programs to help support their customers. Travis McDonald, a junior, thinks this is a good idea, “People who lose their jobs will be grateful because they will still have a car to go places and find a new job.” On the other hand, Matt Vangulick said, “This is not a good idea because this will just make more companies go bankrupt like everyone else. Our financial status will be even worse!”