Cash For Clunkers Facts is reporting that Hyundai is giving their dealers a July 4th present. Dealers received news today about the Hyundai ”CARS Rebate Advance Program” just in time for the holiday sales weekend.
As part of the newly announced program, Hyundai will advance their dealers $4,000 for every qualifying car that meets current NHTSA Car Allowance Rebate System (CARS) program rules.
This strategic move will take away the cash flow concerns that all car dealers have with the CARS program.
This may give Hyundai dealers the advance jump on capturing the pent up demand for car sales stalled until the official program begins around July 24th.
The timing for Hyundai is perfect. The of Fourth of July weekend is historically good for car dealers and Hyundai plans to give their network of dealers all the muscle they can deliver to get consumers into a fuel efficient qualifying car.
Hyundai Sweetens The Deal
The CARS rebates can be as high as $4,500 for a qualified clunker. In July Hyundai has kept their attractive rebates that can be combined with the CARS program. For example, if a consumer qualifies for a $4,500 CARS credit, the Hyundai incentives on two popular models yield some significant savings for consumers:
•Hyundai Elantra Incentives ($2,000) + CARS Rebate ($4,500) = $6,500 off MSRP
•Hyundai Sonata Incentives ($3,000) + CARS Rebate ($4,500) = $7,500 off MSRP
Game on. It will be interesting to watch if any other manufacturers will follow.