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Coronavirus impact: Hyundai launches 5 new finance schemes for customers

Team OD  | Updated: May 11, 2020, 10:59 AM IST

Hyundai Motor India Ltd has announced five unique customer-centric car finance schemes that will help the customer in owning a Hyundai vehicle easily during these unprecedented times. These schemes have been launched to provide customers with quick and burdenless ownership of the vehicle.

It includes a three-month low EMI scheme where customers can opt for low EMIs for the first three months and the balance amount in remaining equal EMIs for 3, 4 and 5-year loan tenures.

A step-up scheme requires the customer to pay a low EMI of Rs 1234 per lakh for the first year for a 7-year tenure loan, and from the second year onwards the EMI would increase by 11 per cent every year till the end of the loan tenure.

The balloon scheme allows the customer to pay a lower EMI, 14 per cent lower than the normal EMI from 1st to 59th month and the last EMI will be 25 per cent of loan repayment.

Longest duration scheme allows the customer to opt for eight years of loan repayment duration.

And the low down payment scheme allows the customer to make the minimum possible down payment and customers can opt up to 100 per cent on-road funding from financers under this scheme.

Except for the low down payment and longest duration scheme, the rest schemes are applicable on all Hyundai models. The longest duration and low down payment scheme is applicable on few select Hyundai models.

Tarun Garg, director of sales, marketing and service at Hyundai Motor India Ltd, said, "Hyundai has always been at the forefront of driving customer-focussed 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."

Tags: Hyundai  |  Hyundai Motor India  |  Hyundai Cars  |  cars  |  new cars  |  loans  |  Coronavirus  |  Coronavirus impact  |  Covid-19
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