If you are an Hyundai car owner, pressed down with financial burden due to recession, here is a good news for you. You can return your new car and free yourself from the obligations to pay the rest of your installments. Hyundai has taken this big step to lessen the burden of recession off people's shoulder.

Cold waves of recession have lamed individual and corporate finance, urging people to take ruthless steps. Thousands and thousands of people are laid off under the cost cutting programs of huge corporate giants. These, once well off people, find themselves knee deep in loans and financial obligations, which they now find difficult to pay off.

To reduce the debt burden for such people, Hyundai has introduced a scheme. Anyone who has bought a Hyundai car within a year can return it on the following grounds

- Involuntary unemployment

- Physical disability

- Loss of driver's license for medical reasons

- Personal bankruptcy filing by self employed workers

- Accidental death

To qualify for this scheme, the buyer must have made at least two scheduled payments on the loan or lease and be current on the payments, as well as pay the amount over the $7,500 negative-equity threshold. The value of the vehicle will be determined by the dealer, who will be allowed to re-sell the vehicle, Hyundai said.

This would not only reduce the car loan burden for those who are not equipped to take it, but also to encourage people who are still in their jobs, to buy new car if they are planning to.

With Hyundai taking a noble step to help people cope with recession, same could be expected from other corporates giants, from automobiles as well as other sector. Troubled consumer should find out similar other ways to reduce the loan burden.