Hyundai is all set to re-open dealership operations under strict adherence of government directions in COVID-19 affected areas. It recently also announced five customer-centric car finance schemes
Key Highlights
- Hyundai Assurance Program is offered on select Hyundai car models purchased during the month of May 2020
- Hyundai is all set to re-open dealership operations under strict adherence of government directions in COVID-19 affected areas
- The program covers the customers under uncertainties such as employment loss in view of poor financial health
New Delhi: The COVID-19 crisis has led to many people losing their jobs or witnessing salary cuts. Because of this, people have been struggling financially and are not able to pay their loan EMIs. In order to help out such customer, Hyundai Motor recently announced five customer-centric car finance schemes during these challenging and uncertain times.
The carmaker announced ‘Hyundai EMI Assurance’ program for select new Hyundai customers. Under this scheme, Hyundai will cover up to three-car loan EMIs of customers. As per the company, the program covers the customers under uncertainties such as employment loss in view of poor financial health/Acquisition/ Merger of the company or due to any applicable laws.
The Hyundai Assurance Program is offered on select Hyundai car models purchased during the month of May 2020 and covers the customer for a period of one year from date of sale of the car (excluding first 3 months). Note that Hyundai is all set to re-open dealership operations under strict adherence of government directions in COVID-19 affected areas.
Announcing the Hyundai EMI Assurance Program, Tarun Garg, Director – Sales, Marketing and Service said, “Hyundai is a Progressive, Innovative and Caring brand. We understand customer aspirations of buying a vehicle and to ease the vehicle acquisition in uncertain times, we have brought the unique and industry-first Hyundai EMI Assurance Program. We are sure, the Hyundai EMI Assurance Program will give new Hyundai owners working in private organisations full peace of mind during these times and create positive and confident sentiments for Hyundai car purchase.”
5 customer-centric car finance schemes for Hyundai customers:
1. 3 Months Low EMI Scheme: Customers can opt for Low EMIs for the first 3 months and the balance amount in remaining equal EMIs for 3 Year, 4 Year & 5 Year loan tenures. This scheme is valid for all Hyundai models.
2. Step-up Scheme: With this scheme, customers need to pay low EMI of Rs 1,234/lac for the first year for a 7 year tenure loan. From the 2nd year onwards; the EMI would increase by 11% every year till the end of the loan tenure. This scheme is valid for all Hyundai models.
3 Balloon Scheme: Customers who want to spend less in current times but are confident of paying a higher amount later can opt for this scheme. Here customer would need to pay a lower EMI (14 % Lower than normal EMI) from 1st to 59th Month and the Last EMI will be 25% of Loan repayment. This scheme too is valid for all Hyundai models.
4.Longest Duration Scheme: Customers who want to pay the smallest amount monthly EMIs to ease up the repayment of loan amount throughout the loan tenure, can opt for up to 8 years of loan repayment duration. This scheme is valid for select Hyundai models.
5.Low Down Payment Scheme: With the minimum possible down payment, customers can opt up to 100% On-road funding from financers under this scheme. This scheme is valid for select Hyundai Models.
