Special Low Installment Rates for Major SUVs
Fixed Annual Rate of 2.9% for Up to 60 Months
On July 8, Hyundai Capital announced that it will launch a special financial promotion for major SUV models from Hyundai Motor and Genesis, as demand for sport utility vehicles (SUVs) increases during the summer season due to family trips and other activities.
Hyundai Capital is offering exceptionally low interest rates on a variety of financial products, including standard installment plans, deferred installment plans, balloon payment installment plans, and special installment plans for electric vehicles.
The SUV Summer Festival promotion covers models such as the Genesis GV80, Genesis GV70, Santa Fe, Tucson, and Kona. Customers who purchase these models with Hyundai Capital's Mobility Standard Installment Plan can benefit from a fixed annual interest rate of 2.9% for up to 60 months. For 36-month and 48-month terms, interest rates of 2.7% and 2.8% are applied, respectively.
For popular traditional SUVs such as the Santa Fe and Tucson, customers can take advantage of the 'SUV 6-Month Zero Interest Installment' promotion when using the balloon payment installment plan. This promotion provides a zero-interest benefit for the first six months of the installment period. After the six-month interest-free period, customers pay the remaining principal and interest in equal monthly installments over the next 54 months.
For example, when purchasing a Santa Fe Hybrid model valued at 38.7 million KRW, customers can receive benefits worth approximately 920,000 KRW during the initial six months. This product does not charge an early repayment fee, allowing for flexible repayment according to individual circumstances during the loan period.
Customers who take delivery of their vehicle this month can also enjoy additional discounts provided by Hyundai Motor and Genesis. For the Genesis GV70 with an internal combustion engine, discounts of up to 3 million KRW are available; for the GV80 and GV80 Coupe, up to 4 million KRW; and for the Hyundai Tucson and Santa Fe, up to 1 million KRW.
For customers considering the purchase of a Grandeur, a special balloon payment installment plan is available that reduces the monthly payment burden and guarantees the used car price. When purchasing a Grandeur with a 36-month Mobility Balloon Payment Installment Plan, a low interest rate of 2.8% is applied, and repayment of up to 60% of the vehicle price can be deferred.
Hyundai Capital guarantees 60% of the new car price if the Grandeur is sold after the installment period ends. The remaining principal can be repaid with the proceeds from the used car sale. If the used car price exceeds 60% of the new car price, the difference is also covered. Additionally, customers who take delivery of a Grandeur this month can receive a discount of up to 2 million KRW.
Customers purchasing electric vehicles such as the IONIQ 5, IONIQ 6, or Kona EV can use the Mobility Balloon Payment Installment Plan at an interest rate of 1.8%. The deferral rate is guaranteed up to 55% for a 36-month term. For example, when purchasing an IONIQ 5 model with an installment principal of 49.93 million KRW using the Mobility Balloon Payment Installment Plan, the monthly payment can be reduced to around 290,000 KRW. The average daily payment burden is less than 10,000 KRW.
The hydrogen electric vehicle 'The All-New Nexo' can also be purchased economically with the Mobility Balloon Payment Installment Plan, with a 36-month deferral rate guaranteed up to 55%. When combined with the electric vehicle subsidy, which covers 40% of the vehicle price, customers can drive a Nexo valued at approximately 80.51 million KRW for about 160,000 KRW per month over 36 months.
A Hyundai Capital representative stated, "We have prepared this promotion to provide customers with a rational opportunity to purchase major models from Hyundai Motor and Genesis, starting with popular SUVs. Considering not only the purchase benefits but also the sales benefits such as used car price guarantees, this promotion represents a golden opportunity for those looking to buy a vehicle."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
