3-Month Low EMI, Step-up and Balloon offers are valid on all Hyundai models.
Long-duration and Low down payment programs are applicable on select models
These five finance schemes are from different banks for different sectors.
The COVID19 pandemic has severely affected car sales and consumer's ability & willingness to buy cars. These finance schemes have been introduced to ease the burden on buyers looking to finance their new Hyundai car. These schemes should offer some peace of mind and convenience to buyers during these uncertain times.
Let’s take a look at all the finance schemes in detail:
Balloon option: This is a good scheme for car buyers who want to spend less for a few years, but are then confident of paying a large amount in the last EMI. Car buyers can opt for this scheme to pay a lower EMI (about 14% lower EMI than normal) from the 1st to 59th month of a 5 year (60 months loan duration), but then pay 25 per cent of the loan repayment in last (60th) EMI. This scheme is available on all Hyundai models.
3-month low EMI deal: Hyundai car buyers can opt for low EMIs for the first three months, and then pay the balance amount in remaining equal EMIs for 3 year, 4 year and 5 year loan tenures. This scheme is valid for all Hyundai models.
Step-up offer: Car buyers can pay an EMI of Rs 1,234 per lakh in the first year of a 7-year loan tenure. From 2nd year onwards, the EMI will increase by 11 per cent till the end of loan tenure. This option is also valid on all Hyundai cars.
Low down payment option: This scheme allows customers to get 100% on-road funding and thus make zero down payment. This scheme is available for only select models.
Longest duration offer: Typically car loans are available for up to 7 years duration. This offers extends that to 8 years. Hyundai car buyers can now opt for 8 years loan tenure and thus reduce there EMI payments to ease up the loan repayment. Only select models are offered with this scheme.
Hyundai has also launched a unique ‘EMI Assurance’ Program to lessen the financial burden on salaried individuals who are looking to buy a new Hyundai car. It has also resumed operations and manufacturing at its plants and dealerships while adhering to all instructions laid down by the central and state governments. It is also offering huge discounts on select car models.