Pretty soon, many of the Volkswagen owners that were affected by the emissions scandal will be out of a car and all set to buy a new one. And with their buyback checks from VW, they'll have money to make those vehicle purchases.
More than 300,000 VW owners have registered on Volkswagen's buyback site. This number is predicted to reach approximately 475,000 before it's over with. So there may be almost half a million potential car shoppers flocking to dealerships in the near future.
Of course, other automakers will be eager to grab these buyers and convert them to their brands if possible. Hyundai is one of the first companies to go after VW owners by offering them special vehicle discounts on top of other incentives.
Hyundai Offers Plan-V to VW Owners Seeking a Buyback
The automaker is confident that many of those affected by the VW scandal will find certain models in their lineup appealing. After all, it seems fairly obvious that these consumers like smaller, fuel-efficient vehicles. Enter Hyundai with options like the Elantra GT hatchback and Tucson compact SUV.
Here is an outline of how Plan-V will work for those who are both qualified and interested.
- To be eligible for these discounts, a customer must verify that they purchased or leased their affected Volkswagen or Audi A3 before September 18, 2015.
- The buyer must provide their official settlement letter.
- Any Hyundai model can be discounted through this promotion. But some models will be discounted more than others.
- Overall, this incentive will amount to about $1,200 to $2,000 for qualified buyers.
What Hyundai is offering VW owners might amount to a very enticing deal for certain consumers. However, with so many potential buyers up for grabs, it's likely that several other brands will be offering deep discounts of their own. Any VW owner who will be in the market for a new car soon should definitely evaluate and compare all of the options that will be available.
Hyundai Models that May Appeal to VW Owners
Both of the previously mentioned Hyundai models, the Elantra GT and the Tucson, could be good options for VW owners. These vehicles are highly rated, fuel efficient and affordably priced.
- The Hyundai Elantra GT: In addition to very good fuel economy (EPA-estimated 24-28 mpg city/33-38 mpg hwy), the Elantra GT also boasts a fairly spacious cabin and trunk. It also comes with good safety ratings and an impressive list of available tech features.
- The Hyundai Tucson: Rated very highly in its crowded class, the Tucson gets an EPA-estimated 21-26 mpg city/32-36 mpg hwy. In addition to good fuel economy, it offers a quiet cabin, spacious back seat and very high safety ratings.
If neither of these options seems like a good fit for your driving needs, there are other vehicles that might be worth checking out. These include the Honda Civic, Kia Soul, Kia Sportage and Ford Escape.
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