Hyundai Motor Launches New Car Installment Plan with Variable Interest Rate... Every 3 Months

Reflecting Variable CD Rate for 91 Days... Available for All Vehicle Models

[Asia Economy Reporter Oh Gyumin] Hyundai Motor Company announced on the 1st that it has launched a variable interest rate new car installment program to expand customer choice.

The variable interest rate installment program determines the installment interest rate by reflecting changes in the 91-day Certificate of Deposit (CD) interest rate every three months. When interest rates decrease in the future, the customer's interest burden is reduced. If the interest rate is 1%P lower three months after the loan confirmation date, the loan interest rate will also be 1%P lower than at that time. This program operates as a single product with equal principal and interest repayment over 60 months.

[Photo by Hyundai Motor Company]

This program is available to individual and sole proprietor customers. It applies to all Hyundai passenger car models (except Casper), medium commercial vehicles (except Pavis), and all Genesis models.

A Hyundai Motor official said, “We have expanded the range of choices by adding financial products tailored to various customer needs, and we expect that the variable interest rate installment program will alleviate customers’ automobile installment interest burdens when interest rates decrease in the future.”