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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.
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.
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.