Hyundai Motor Company announced on August 3 that it will launch the 'NEXO Easy Start Program' to make it easier for customers to use the hydrogen fuel cell electric vehicle (FCEV), NEXO, without financial burden.
The NEXO Easy Start Program consists of two main benefits: a 'Deferred Payment Installment Plan with Vehicle Return Option,' which features low monthly payments, and a 'Hydrogen Refueling Cost Support Benefit,' which covers hydrogen refueling costs for two years.
The Deferred Payment Installment Plan with Vehicle Return Option is a financing product that guarantees the used car value of the vehicle in advance, defers the installment payment equivalent to the residual value, and allows the customer to settle the deferred amount by returning the vehicle at the end of the term.
Up to 50% of the NEXO's price can be guaranteed in advance as the used car value, allowing the corresponding installment amount to be deferred. The customer only pays the principal and interest on the remaining amount and interest on the deferred amount, minimizing the initial purchase cost and monthly payment burden. The deferred amount can be settled in a lump sum by returning the vehicle after 36 months, which is the end of the contract period.
The selling price of the NEXO (after tax benefits) is 76.44 million KRW for the Exclusive trim. In major regions such as Daegu, Daejeon, and Incheon, the hydrogen vehicle subsidy for the NEXO (combined national and local government support) is set at approximately 32.5 million KRW.
In this case, based on the minimum down payment rate (1.3%), customers can use the NEXO for a daily payment of 7,200 KRW (220,000 KRW per month). (※ Based on a 36-month term, with the entire down payment made using a Hyundai Card, an installment interest rate of 4.3% applies.)
NEXO customers can receive up to 2.4 million KRW in hydrogen refueling cost support over two years through the 'Hydrogen Refueling Cost Support Benefit.' Hyundai provides a prepaid card, exclusively designed for NEXO, loaded with 1.95 million KRW to customers who purchase the vehicle. Additionally, customers who use a Hyundai-exclusive card can receive an extra benefit of 450,000 KRW. (※ Applicable for payments of 10 million KRW or more and when using the Save service.)
Hyundai has continuously worked to reduce the burden of purchasing hydrogen fuel cell vehicles for customers. In June, the company began selling the new NEXO and is currently operating the 'NEXO Every Care Program,' which provides integrated care from purchase to ownership and used car sales.
Through this program, customers can benefit from: ▲ the 'Hydrogen Refueling Cost Support Benefit,' which offers a monthly hydrogen refueling discount of up to 20,000 KRW through the Hyundai EV Card (20,000 KRW for monthly card usage of 800,000 KRW or more, 10,000 KRW for 500,000 KRW or more), and ▲ the 'Trade-In' program, which provides discounts to customers who purchase a new NEXO after selling their previous vehicle through Hyundai Certified Used Cars.
Additionally, when driving the NEXO, customers can receive: ▲ 'Emergency Delivery,' which offers towing assistance for up to 100 km in case of hydrogen depletion (twice per year for five years), ▲ 'Blue Safety Inspection,' a complimentary inspection service covering 15 items (once per year for eight years), and ▲ 'Warranty Repairs,' which cover general parts for three years or 60,000 km and hydrogen fuel cell-specific parts for ten years or 160,000 km.
Finally, when selling a used NEXO, customers can utilize the 'Used Car Residual Value Guarantee' program, which guarantees up to 68% of the purchase price as residual value within three years of delivery.
A Hyundai representative stated, "We are continuously introducing various benefits to practically address the factors that cause customers to feel burdened when purchasing the NEXO hydrogen fuel cell vehicle," and added, "We hope that the newly launched NEXO, introduced after seven years, will become a great opportunity for more customers to show interest."
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