Hyundai Commercial Launches 'Mighty Safe Care Program'... "Lower Monthly Payments"

1.5 Million Won Vehicle Price Discount
Deferment of Used Car Residual Value Amount

Hyundai Commercial announced on May 29 that it is launching the 'Mighty Safe Care Program' for LX Pantos vehicle owners who purchase Hyundai Motor Company's 'The New Mighty.' The program offers a 1.5 million won discount on the vehicle price and allows customers to defer an amount equivalent to the used car residual value until the end of the loan term.

Customers can receive a discount of up to 1.5 million won when purchasing a new vehicle, and defer up to 35% of the principal until the end of the loan, thereby reducing monthly payments. Eligible vehicles are Hyundai's mid-size trucks with a capacity of 3.5 tons or less, known as the Mighty.

Depending on the loan term, customers can defer 35% of the vehicle price for 60 months, 25% for 72 months, or 20% for 84 months until the loan matures.

At the end of the loan term, customers can either sell the vehicle themselves or return it to settle the deferred amount. If the vehicle is returned, the customer is guaranteed the pre-agreed residual value. If the appraised value of the vehicle exceeds the guaranteed residual value, the customer will receive the difference.

For example, if a customer purchases a Mighty 2.5t priced at 50 million won and uses the 'Mighty Vehicle Return Deferred Payment Product' for 60 months, they can defer 17.5 million won (35%) until the end of the loan term. Even if the appraised value of the used vehicle at maturity is lower than the deferred 17.5 million won, the agreed amount is guaranteed. If the vehicle is sold for 18 million won, which is higher than the deferred amount, the customer will receive the 500,000 won difference.

The program was designed for LX Pantos vehicle owners. In addition, LX Pantos owners can continue to use the existing vehicle sales service. By utilizing this service, a certified appraiser will provide a free on-site evaluation, and the vehicle can be sold through an online auction not only domestically but also to Hyundai's partner export companies. This allows customers to achieve higher used car sale prices.

Owners wishing to use the product should decide on their vehicle purchase through a Hyundai Motor sales representative and then inquire about the program recommendation and review process at the LX Pantos regional logistics center.

A Hyundai Commercial representative stated, "We are developing a variety of products for LX Pantos vehicle owners," and added, "When purchasing a new vehicle, customers can also use Hyundai's free warranty service, which helps reduce the operational burden for owners in terms of maintenance and repair."

Meanwhile, Hyundai Commercial and LX Pantos have been working to reduce the purchase burden for vehicle owners through mutual cooperation. In March, they introduced a new vehicle purchase program offering special interest rate discounts to LX Pantos owners purchasing Hyundai's heavy-duty and mid-size trucks.