Up to 3.23 Percentage Point Interest Rate Discount
for Hyundai Glovis Owners Purchasing New Heavy-Duty Trucks
Special Program Offers Additional Savings and Extended Loan Terms
On August 14, Hyundai Commercial announced the launch of its "New Vehicle Purchase Program," which offers a maximum interest rate discount of 3.23 percentage points to owners of Hyundai Glovis vehicles.
Hyundai Commercial, Hyundai Motor Company, and Hyundai Glovis have joined forces to introduce this program, aiming to ease the financial burden of new vehicle purchases for Hyundai Glovis vehicle owners.
The program targets Hyundai Glovis owners who purchase new Hyundai Motor Company heavy-duty trucks such as the New Power Truck and the Xcient, as well as the medium-duty Pavise truck. Owners purchasing special-purpose vehicles equipped with specialized equipment, such as box trucks or wing body trucks, are also eligible to apply for the program.
The program applies a special interest rate discount of 1.5 percentage points on Hyundai Commercial installment products, as well as an additional discount of up to 1.73 percentage points based on the returns from the "Companion Fund" established by Hyundai Glovis. In total, customers can receive up to 3.23 percentage points in interest rate discounts.
For example, an owner initially subject to a 6.2% interest rate who purchases a heavy-duty truck with a 36-month contract can, through this program, secure a loan at a minimum rate of 2.97%. Furthermore, if the down payment is made using a Hyundai Card, an additional discount of 0.4 to 1.3 percentage points is applied. This means the vehicle can be purchased at an industry-low rate of 1.67%.
The loan term is also available for up to 84 months. Owners can purchase a new vehicle while paying monthly installments similar to those for used vehicles. In addition, the free warranty service provided by Hyundai Motor Company for new vehicle purchases can help reduce repair costs.
A Hyundai Commercial representative stated, "We expect that many owners who were unable to purchase new vehicles due to price concerns will show great interest in this program."
Applications are open until December. Owners interested in the program should decide on their vehicle purchase through a Hyundai Motor Company sales representative, and then inquire about recommendation screening at their local Hyundai Glovis branch.
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