Companies

Hyundai rolls out 5 car finance schemes

Prashasti Awasthi Mumbai | Updated on May 08, 2020 Published on May 08, 2020

The automobile industry is crawling back to normalcy after the government allowed the resumption of industrial activities. In order to stimulate demand, Hyundai Motor India Ltd (HMIL) has rolled out five customer-centric schemes through various financial institutions. These include:

3 Months Low EMI Scheme

Customers can opt for Low EMIs for the first 3 months and the balance amount in equal EMIs on loans with a tenure of three, four or five years. This scheme is valid for all Hyundai models.

Step-up Scheme

Under this scheme, customers can opt to pay a low EMI of Rs 1,234/lakh in the first year on a loan with a seven-year tenure. From the second year onwards, the EMI would increase by 11 per cent every year, till the end of the loan tenure. This scheme is valid for all Hyundai models.

Balloon Scheme

Customers who would prefer to spend less in the current times but are confident of paying a higher amount later can opt for this scheme. Here, customers would need to pay a lower EMI ( ~14 per cent lower than normal EMI ) from the first to the 59th month and the last EMI will be 25 per cent of the loan repayment. This scheme, too, is valid for all Hyundai models.

Longest Duration Scheme

Customers who want to pay the smallest 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. This scheme is valid for select Hyundai models.

With the minimum possible down payment, customers can opt for up to 100 per cent on-road funding from financiers under this scheme, which is valid for select Hyundai models.

Hyundai said Terms & Conditions Apply for every scheme. The above-mentioned schemes are from different banks for different sectors.

Published on May 08, 2020

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