Business Daily Media

Men's Weekly

.

Hyundai Capital Services Marks Another Major Milestone, Launches Hyundai Finance in Australia

  • Written by PR Newswire
Hyundai Capital Services Marks Another Major Milestone, Launches Hyundai Finance in Australia

SEOUL, South Korea, Nov. 25, 2024 /PRNewswire/ -- Hyundai Capital Services ("Hyundai Capital" or the "Company"), the financial subsidiary of the Hyundai Motor Group, announced today launch of its finance options for Hyundai Motor Company in Australia. This launch marks another significant milestone for the Company, with Australia being the 12th overseas financial subsidiary of Hyundai Capital.

Hyundai Capital Australia Pty Ltd ("HCAU") aims to offer products tailored to the passenger vehicles of Hyundai dealerships and Genesis showrooms in Australia. HCAU has started servicing and providing exclusive financial solutions for Genesis in October. This launch of Hyundai Finance, together with Genesis Finance, marks the beginning of HCAU's drive of auto financing business in Australia.

Leveraging the global credit ratings of Hyundai Motor Company, HCAU designed competitive rate loan products for its customers and introduced flexible and personalised financial services tailored to each vehicle.

For example, the Guaranteed Future Value* ("GFV") is HCAU's premier offering for the Australian market. The GFV loan guarantees a minimum resale value of the vehicle, which enables to lower monthly payments compared with traditional financing, making Hyundai vehicles more accessible with flexible end of term options. When the loan matures, customers can choose to:

  1. Trade-in: the vehicle's value is used towards repaying the loan. If the trade-in value is higher than the GFV, the positive equity can be used towards a new vehicle.
  2. Keep: pay the GFV amount to own the vehicle outright.
  3. Return: return the car with no further payments, provided it meets the agreed upon fair wear and tear and kilometres driven conditions.

HCAU seeks to lead the auto financing market in Australia with its seamless and convenient digital financing services. With the global IT system developed and implemented by Hyundai Capital, HCAU offers a streamlined, digital finance application process. HCAU has improved the efficiency of its underwriting process through online document submission and system auto-approval functionality. Furthermore, HCAU introduced an AI chatbot service that operates 24/7, enhancing customer convenience to the next level.

"We are proud to introduce our full offering of auto financing products and services to our Australian customers who are already using or looking to purchase a Hyundai or Genesis vehicle at their respective dealerships," said Hyung-Jin David Chung, CEO of Hyundai Capital. "With our strong partnership with Hyundai Motor Group, Hyundai Capital Australia will offer highly differentiated products and services to meet all of our customers' needs."

He added, "Hyundai Capital will continue to expand its business reach in key strategic markets to promote Hyundai Motor Group's global sales growth."

* GFV is for approved applicants only and is subject to fair wear and tear and kilometres driven conditions. Applicable terms, conditions, fees, charges and lending criteria apply.

Read more https://www.prnasia.com/story/archive/4564129_AE64129_0

Minns Labor Government shutting down the Business Connect program

The NSW Opposition is concerned that the Labor government will shut down a support program that has assisted New South Wales businesses. In a media ...

Samsara Eco appoints Dr. Lars Kissau as General Manager for Asia

Australian biotech innovator Samsara Eco has announced the appointment of Dr Lars Kissau as its first General Manager of Asia. Based in Singapore...

From the first bounce to the final siren - small business lessons from the AFL Grand Final

The AFL Grand Final is one of the most anticipated days on the sporting calendar. This Saturday, the Geelong Cats and Brisbane Lions will battle i...

Australia’s top finance leaders recognised as CFO role expands

Amid surging regulatory demands and rapidly evolving industry, Australia’s most influential Chief Financial Officers will be honoured at the inaug...

Why outdated security leaves small businesses exposed to crime

Small and medium businesses in Australia are under increasing pressure to address security gaps that criminals readily exploit. An unlocked door, an...

Why it’s time telcos rethink location and put customer experience first

Maurice Zicman, Vice President - CX Strategy at TP in Australia unpacks why the telco industry must rethink old assumptions and focus on digital-f...

Sell by LayBy