"Compensation Benefits for Kia Electric Vehicle Repurchase"
Hyundai Capital announced on the 13th that it will launch a customer-exclusive financial program for Kia's first electrified sedan, 'The Kia EV4.' Customers can drive the EV4 by paying approximately 330,000 KRW monthly for 36 months.
The main products and services are the ‘K-Value Installment Plan’ and ‘Battery Life Care’ for EV4 customers.
First, Hyundai Capital offers a fixed interest rate benefit of 3.9% for 36 months to customers who take delivery of the EV4 within June through the K-Value Installment Plan. The K-Value Installment Plan reduces the monthly payment burden and guarantees the used car price (residual value).
By paying a down payment of at least 1% of the vehicle price with a Hyundai Card M series card, customers can enjoy low interest benefits and defer up to 60% of the vehicle price until the maturity date. This significantly reduces the monthly payment burden.
If a customer purchases the EV4 Standard Air model priced at 41.92 million KRW (before electric vehicle tax benefits) with a 20% down payment rate (including electric vehicle subsidies) through the K-Value Installment Plan, they need to pay about 330,000 KRW monthly for 36 months.
The used car price guarantee benefit is also attractive. K-Value Installment Plan customers who sell their EV4 within three years of purchase and repurchase a Kia electric vehicle under the same name are guaranteed up to 60% of the purchase price as the residual value of the used car. This allows for repayment of deferred installment payments without additional costs. However, repurchase must be made through the 'Used Car Price Guarantee Service' subscribed to at the initial purchase.
Battery Life Care is jointly provided by Hyundai Capital and LG Energy Solution. It is offered free of charge to K-Value Installment Plan customers.
Customers who use the K-Value Installment Plan until the contract expiration without early repayment and sell their vehicle through AutoHands can receive a compensation of 2 million KRW if they achieve the assigned battery management target score, 'My Reward Score.'
My Reward Score quantifies data related to battery life, such as driver driving information, driving habits, charging patterns, and battery status. Customers can check their score on Hyundai Capital’s official app 'Hyundai Capital Car & Asset' or LG Energy Solution’s electric vehicle dedicated app 'B-Life Care.'
A Hyundai Capital representative said, "We have prepared benefits and services optimized for the EV4 to enable the most reasonable purchase of the EV4," adding, "With Hyundai Capital’s financial program, customers can reduce monthly payments, manage batteries efficiently, and enjoy the triple benefits of Kia electric vehicle repurchase compensation."
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