Hyundai Motor Offers Ultra-Low Interest Rates on Santa Fe, GV80 and Other SUVs for One Month

"SUV Summer Festival"
Lower Monthly and Total Payments

Hyundai Motor announced on July 1 that it will launch the "SUV Summer Festival" throughout July, offering an "ultra-low interest rate of 2.9%" to boost sluggish domestic consumption ahead of the summer vacation season.

The company will lower installment interest rates for a total of eight models, including hybrid vehicles such as the Kona, Tucson, Santa Fe, GV70, and GV80. For the Kona, GV70, and GV80, the interest rate will be reduced by 1.6 percentage points from the previous 4.5%. For the Tucson and Santa Fe, the rate will be reduced by 1.1 percentage points from the previous 4.0%.

In addition, if a customer pays 1% of the vehicle price as a down payment within the promotional period and finances the remaining amount over 60 months, the monthly installment for the Kona Smartstream Gasoline 1.6 Turbo Modern model will decrease from 444,600 won to 427,400 won, a reduction of about 17,200 won. The total payment will also be reduced by 1,028,400 won.

For the Tucson Modern model, the monthly installment will decrease from 497,600 won to 484,300 won, a reduction of 13,300 won, and the total payment will be reduced by 797,900 won.

For the Santa Fe Exclusive model, the monthly installment will decrease from 636,700 won to 619,700 won, a reduction of 17,000 won, and the total payment will be reduced by 1,021,000 won.

For the Genesis GV70 Gasoline 2.5 Turbo base model, the monthly installment will decrease from 977,800 won to 940,100 won, a reduction of 37,700 won, and the total payment will be reduced by 2,261,800 won. For the GV80 Gasoline 2.5 Turbo base model, the monthly installment will decrease from 1,262,400 won to 1,213,800 won, a reduction of 48,600 won, and the total payment will be reduced by 2,920,100 won.

Hyundai will also run the "Burden Down Promotion" throughout July, which offers special low-interest benefits. This is a 36-month balloon installment plan that guarantees the used car value, defers the installment amount equivalent to the residual value, and allows customers to return the vehicle at the end of the term and settle the deferred amount in a lump sum. Starting in July, the Grandeur (including hybrid models) has been added to this program.

During the deferral period, customers only pay the principal and interest on the amount excluding the deferred payment, as well as interest on the deferred amount, minimizing the initial vehicle purchase cost and monthly payment burden. The Grandeur (including hybrid models) is eligible for a reduced installment rate of 2.8%, down 1.9 percentage points from the previous 4.7%. The Ioniq 5, Ioniq 6, and Kona Electric are eligible for a reduced rate of 1.8%, down 2.9 percentage points from the previous 4.7%.

A Hyundai Motor official said, "We have prepared special promotions for customers considering purchasing a vehicle during the summer vacation season," adding, "We will continue to offer a variety of promotions to stimulate domestic demand and reduce the financial burden on our customers."