Car dealerships offer help for unemployed

With a struggling economy and high unemployment rate, companies are looking to boost consumer confidence and sales by offering innovative promotions. The latest such program is from AutoNation, the nation’s largest automotive dealership chain. AutoNation will protect customers by covering the first six months of a loan or lease payments if they become unemployed. The program starts after the buyer has made three car payments and would cover monthly payments up to $500 for six months. The benefit expires one year after the date of purchase.

Right now, the program has launched at multi-brand, mega dealerships in South Florida. No official word yet on whether it will extend to more of AutoNation’s 239 dealerships. (For more details on the program, check out www.Maroone.com.)

In January, Hyundai was the first company to offer this type of incentive with its Hyundai Assurance program. Although, the Hyundai program goes a step further by offering it to those who become physically disabled, lose their driver’s license due to medical reasons, are self employed and file for bankruptcy, or get a job transfer overseas.

--Liza Barth