Hyundai and Kia Offer Cash Rebates
Not all rebates and incentives attached to brand new cars and trucks are as straightforward as they might at first seem. While there are almost always cash back offers and low finance rates offered on a range of vehicles sold by a particular brand, there are also sometimes more obscure sales initiatives available that are not advertised quite as aggressively. Being aware of these kinds of incentives can help you save on the bottom line when buying a particular vehicle.
Hyundai is currently offering one of these very particular and somewhat obscure new car sales. Called the 'Competitive Owner Coupon Offer,' this cash rebate is targeted at buyers who own a specific make and model of automobile - non-Hyundai, of course - and who are considering a switch to the Korean brand's wares.
The Competitive Owner Coupon Offer is available on the 2010 and 2011 Hyundai Genesis luxury sedan, and it is worth $1,500 off of the vehicle's asking price. The incentive runs until September 30, 2010. Now, at first it might seem that only those willing to trade in vehicles in the same class as the Hyundai Genesis (mid-size premium sedans) would be able to take advantage of the offer. However, reports from customers who have taken advantage of similar Hyundai programs in the past, usually designed to move the Hyundai Genesis Coupe off of the lot, have said that most Hyundai dealers will accept any car in trade as qualifying the buyer for the rebate; any car, that is, except for a Kia.
Officially, Hyundai is playing it coy. The company's website lists the offer as being open to any 'currently registered owner of a qualifying competitive vehicle.' However, the company does not provide a list of automobiles that it considers as qualifying. Instead, the website directs interested parties to contact their local dealership for more details about what they can and can't trade in. This not only helps drive sales prospects to dealerships, but it also gives those dealerships leverage when negotiating the acceptance of a particular trade-in as 'qualifying' for the program or not.
Kia Competitive Bonus Program
Interestingly enough, Hyundai's Kia subsidiary is also running a similar incentive, called the Competitive Bonus Program. Unlike Hyundai, Kia not only extends the offer across a much greater percentage of its new car lineup, but it also provides a specific list on its website of what vehicles are considered as qualified competitors for each of the automobiles that are participating in the program.
In most cases, the list of competitive vehicles is so broad that it almost encompasses every offering in a specific segment. For example, the 2010 Kia Soul compact crossover features a $1,000 Competitive Bonus ($500 for 2011 models) that is available to owners of everything from an Acura Integra to a Chrysler PT Cruiser to a Volkswagen Rabbit. In essence, almost every compact vehicle sold in the past ten years qualifies interested buyers for the Kia Soul's Competitive Bonus cash. The 2010 Kia Forte and 2010 Kia Forte Koup feature a similarly long list of qualifying automobiles for their $500 Bonus, reaching back even further to touch on compact automobiles hailing from the late 1990's. The 2010 Kia Optima ($500 Competitive Bonus) adopts a similar philosophy but instead targets the majority of mid-size sedans built between the mid-1990's and the present day. It is interesting to note that while these qualifying lists contain some Japanese premium models, they completely ignore European luxury brands.
The list of qualifying vehicles for the 2010 Kia Sedona ($1,000 Competitive Bonus) is in some ways more exclusive, as it is populated exclusively by minivans. However, some of the minivans that make the Competitive Bonus grade have been out of production for many years, which gives the Sedona's list one of farthest reaches when it comes to model years. The 2011 Kia Sorento, on the other hand, features a list that reads like a who's who of small to mid-size SUVs. The Kia sport-utility vehicle features a very attractive Competitive Bonus of between $1,000 and $1,500, depending upon which model is selected.
Some 2009 Kia models also qualify for the Competitive Bonus program.