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Hyundai Unique Finance Schemes Announced: Five Ways To Own A New Car
Hyundai India announces unique finance schemes for new vehicle ownership in the country. The new finance schemes are aimed to offer increased convenience and ease of ownership with new vehicle purchases.
The five new finance schemes are introduced as part of the ‘Hyundai Cares - Customers First' initiative by the company. Hyundai also aims to boost sales with the introduction of new schemes during the current massive slowdown in automotive space.
Speaking about the announcement of the new finance schemes, Mr Tarun Garg, Director (Sales, Marketing and Service), said, "Hyundai has always been at the forefront of driving customer-focused initiatives and yet again we are leading the way with 5 unique customer-centric initiatives. Under these challenging times, it is vital that we empower customers with such programmes that ease their financial burdens and assist them in staying on track with life goals such as buying their favourite Hyundai Car."
Here are all the details about the five unique financial schemes announced by the company.
Three
Months
Low
EMI
Scheme
Under
this
scheme,
customers
can
choose
to
pay
lower
EMIs
for
the
first
three
months
after
they
have
purchased
a
new
vehicle.
The
balance
amount
will
be
paid
in
equal
EMIs
that
will
be
paid
for
set
tenures.
Step-up
Scheme
Customers
under
this
scheme
will
pay
a
lower
EMI
of
Rs
1,234
per
lakh
for
the
first
year.
From
the
second
year,
the
EMIs
will
increase
by
11
per
cent
each
year
till
the
end
of
the
loan
tenure.
This
particular
scheme
is
only
valid
for
a
loan
repayment
tenure
of
seven
years.
Balloon
Scheme
Customers
who
are
looking
to
repay
their
four-wheeler
loans
faster
at
the
end
of
loan
tenure
can
opt
for
the
balloon
scheme.
Under
this
scheme,
customers
will
pay
a
lower
EMI
of
approximately
14
per
cent
as
compared
to
normal
EMI
amount
from
the
1st
to
the
59th
month.
The
final
EMI
will
be
an
equivalent
to
25
per
cent
of
the
loan
repayment
amount.
Longest
Duration
Scheme
Customers
who
want
to
pay
the
smallest
monthly
instalments
and
longer
loan
repayment
tenure
can
opt
for
this
scheme.
Under
the
scheme,
the
company
is
offering
eight
years
of
loan
repayment
duration.
Low
Down
Payment
Scheme
A
new
vehicle
purchase
also
depends
on
the
minimum
down
payment
required.
If
customers
are
looking
to
own
a
Hyundai
car
by
paying
the
lowest
of
the
down
payment
amount
options,
the
company
has
you
covered
under
this
scheme.
Customers
can
opt
up
to
100
per
cent
on-road
funding
from
financers
under
this
scheme.
While
the
rest
of
the
schemes
are
valid
across
the
entire
range
of
Hyundai
cars,
the
low
downpayment
scheme
is
valid
for
select
models.
Alongside the unique finance schemes, Hyundai has also announced an industry-first scheme to help working individuals with car loan repayments. The offer is valid for purchases made during May 2020 and on select models only — here are more details about the new scheme.
Hyundai is also gearing up to resume operation of its dealerships across the country. The company has issued strict guidelines that have to be followed in order to maintain hygiene at showrooms and workshops, which are in line with health and safety protocols issued by the government.
The company has announced that 255 dealerships and workshops will be operating across the country. Ever since operations have resumed, the company claims that they have already registered 170 units of sales — here are more details.
Thoughts About The Hyundai Unique Finance Schemes Announced
Hyundai Motors India aims to recover from a time which saw most brands registering zero sales due to the Covid-19 nation-wide lockdown in the country. As a result, the company is introducing new schemes and aims to boost sales in the coming months.