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Hyundai have revealed new finance schemes for customers for their convenience and ease of ownership in these tough times.

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With the ongoing COVID-19 pandemic situation, it has left people struggling as the economy is currently in a shocking state due to most businesses being forced to shut down. The lockdown period has ended in many parts of India and things are starting to get back on track slowly and steadily. Hyundai have launched new finance schemes for customers which will make it easier for them to own a car.

The five schemes that are being implemented are 3 Months Low EMI Scheme*, Step-up Scheme*, Balloon Scheme*, Longest Duration Scheme* and Low Down Payment Scheme*. The first three schemes are valid on all Hyundai car models, while the longest duration and low down payment scheme are valid only on select Hyundai models. Here is what all the schemes are all about.

3 Months Low EMI Scheme*: In this scheme, customers can opt for low EMIs, or instalments, for the first three months and the balance amount in remaining equal EMIs for three-, four- and five-year loan tenures.

Step-up Scheme*: With this scheme, customers need to pay low EMI between Rs 1 lakh and Rs 4 lakh for the first year for a seven-year tenure loan. From the second year onwards, the EMI would increase by 11 per cent every year till the end of the loan tenure.

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 14 per cent lower EMI from the first to the 59th month and the last EMI will be 25 per cent of loan repayment.

Longest Duration Scheme*: Customers who want to pay the smallest amount for monthly EMIs, to ease up the repayment of loan amount throughout the loan tenure, can opt for up to eight years of loan repayment duration.

Low Down Payment Scheme*: With the minimum possible down payment, customers can opt up to 100 per cent on-road funding from a financer under this scheme.

*Terms and conditions apply for every mentioned scheme. All the above mentioned schemes are from different banks for different sectors.

Commenting on the announcement of the Five Unique Customer-Centric Car Finance Schemes, 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 five 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.”

 

About the author: Azaman Chothia

 

 

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