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The Hyundai buyback scheme has already been a hit in the United States, where unemployment levels have hit record levels.
The assurance plus program means new Hyundai buyers can return their car without a penalty if they are retrenched.
The company will also pay car repayments for up to three months if owners are out of work.
It has been largely credited with bolstering Hyundai sales as the North American car market, particular for the big three carmakers General Motors, Ford and Chrysler, has collapsed.
Hyundai Australia general manager of marketing, Oliver Mann, said he was very interested in the idea.
"There is no doubt Hyundai's Assurance Plus program has been a success in the US," Mann said.
"We are looking at the market environment here and the developing economic situation.
"Hats off to our US parent though for kick starting it."
However, Mann and the company's Australian chief executive, Steve Yeo, believe using such a scheme here is still largely academic because the Australian car market was still holding up well given the local economic conditions.
"Yes, the scheme is working in North America and it is innovative," Yeo said.
"But I don't think our Australian customers need it at present."
However, Yeo said it was a big sales point of difference between Hyundai and other US carmakers.
Now even GM executives are warming to Hyundai's idea.
Executives confirmed this week they may copy the incentive idea, which could spread to other carmakers.
Vehicle sales in the US are down 40 per cent this year compared to the first two months of 2008.
By comparison Hyundai sales in the US are up 5 per cent while GM sales have slumped 51 per cent.
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