No Payments for the First 5 Months of a 60-Month Installment Plan
4.7% Interest Applied for the Remaining 55 Months
Ultra-Long-Term Installment Program Up to 120 Months Available
Hyundai Capital announced on August 22 that it has launched an exclusive financial program for Kia's first electrified purpose-built vehicle (PBV), "The Kia PV5."
It introduced the "PV5 5-Zero Installment" and "PV5 Long-Run Installment" programs.
The Zero Installment program allows customers to pay nothing for the first 5 months of a 60-month installment period, then repay the principal and interest over the remaining 55 months at an interest rate of 4.7%. This eases the initial financial burden of purchasing the vehicle.
The Long-Run Installment program offers an ultra-long-term installment plan of up to 120 months, with an interest rate of 5%.
Customers using the PV5 installment programs are eligible for electric vehicle charging support benefits. Those who achieve a safe driving score of 80 points or higher on the Hyundai Capital Car&Asset application will receive a monthly charging credit of 10,000 KRW.
With this charging credit, customers can receive up to 120,000 KRW over 12 months, starting from the month after signing the installment contract. The credit can be used at nationwide charging stations partnered with Korea Electric Vehicle Charging Service (Happy Charger) at a flat rate of 380 KRW per kWh for fast charging.
In partnership with Naver Pay, Hyundai Capital is also launching the "Triple-Save Lease" program. This program reflects the electric vehicle subsidy and vehicle price discounts to lower the monthly fee, and additionally returns 0.5% of the vehicle price as Naver Points.
Triple-Save Lease customers only need to pay a minimum of 200,000 KRW per month for the first six months.
Furthermore, if customers meet certain criteria for mileage, battery management score, and safe driving score, a portion of the amount will be paid back upon returning the vehicle at the end of the contract.
Anyone with typical driving habits, such as keeping actual mileage within 95% of the agreed mileage, is expected to meet these conditions. Upon meeting the requirements, customers can receive up to 10,000 KRW per month as a refund during the lease period.
A Hyundai Capital representative stated, "We will continue to support the advancement of Hyundai Motor Group's mobility innovation in the financial sector by providing PV5-tailored programs for a wide range of customers."
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