Last Auto News – Hyundai Assurance Locks in Price of Gas at $1.49 for a Year

Last Auto News –

The Hyundai Assurance program seems to add a new provision every month, but the latest one has caused a bit of a buzz.

Autoblog explains, “The newest promotion, Gas Lock, fixes the price of regular unleaded at $1.49 per gallon for the next year. The program runs July 1 through August 31.” It applies to most Hyundai vehicles, but the entry-model Accent, and every Genesis sedan and Genesis Coupe are excluded. Higher Accent trim levels are included.

Kicking Tires comments, “It’s doubtful that we’ll see sub-$2 gas anytime soon and sub-$1.50 gas is even more unlikely, so this price seems like a good deal.” However, it isn’t clearly a win for the buyer. “If you opt for the cheap gas you give up most of the traditional cash incentives, which for some Hyundai models are quite significant.” You’ll have to do the math on the deal a Hyundai dealership offers you to be certain.

After all, Autoblog notes, “You may remember that last year, Chrysler tried a similar promotion, offering the opportunity to lock in gas at $2.99 per gallon when a gallon of petrol was at an all-time high of about $4.50.” It didn’t turn out to be very successful for Chrysler, with most buyers choosing to take the cash incentive instead – and those who agreed to the $2.99 gas offer may have had regrets when prices fell below $2.99 in the fall.

According to the Hyundai Assurance plan website, the initial Assurance program offer still stands – buyers can return their new Hyundai with no damage to their credit if they lose their income within the first year of ownership.

If you’re in the market for a new car, check out the U.S. News rankings of this year’s best cars as well as this month’s best car deals.