Hyundai Assurance Gas Lock Promises Discounted Fuel

On the heels of its successful Assurance and Assurance Plus programs, Hyundai is now offering buyers of its new cars the opportunity to enroll in a program called Assurance Gas Lock. The new program will guarantee new Hyundai lessees or buyers a year's worth of regular gasoline for just $1.49 a gallon. If drivers elect to buy mid- or premium-grade gasoline, they’ll pay just $1.64 or $1.79 per gallon, respectively. The fuel price is locked in for a year and entitles drivers to enough fuel to cover 12,000 miles.
The program is available on all new Hyundais except the Genesis sedan, Genesis Coupe, and Accent GS. The fuel savings could be big: current regular-grade gasoline averages $2.64 per gallon, according to the Energy Information Administration. And buyers enrolling in the program can still profit from certain rebates and financing discounts available on new Hyundai models.
If the idea sounds familiar, it’s because Chrysler launched a similar scheme, dubbed Refuel America, in May 2008. The Pentastar's program allowed drivers to buy gas at $2.99 per gallon for three years, until late 2011. Yet national fuel prices have since dropped below $2.99, so drivers enrolled in the plan no longer save money on gas. Moreover, buyers who signed up for the Refuel America program were automatically ineligible for reduced APR rates or consumer cash back offers on new Chryslers, Dodges, or Jeeps.
Hyundai’s offer looks to be a better deal because it doesn't ban consumers from receiving additional customer incentives, and we highly doubt gasoline is going to drop below $1.49 per gallon—and if it does, it won't stay there for long.