Hyundai has announced details of a new financing offer that will see the company offer factory backed financing in partnership with St George Bank.
The Hyundai Shield – Guaranteed Future Value is a short-term lease offer with a balloon payment at the end of the lease. At the start of the lease buyers will agree the final balloon payment (Guaranteed Future Value).
Buyers who sign-up to the Hyundai Shield program will be able to buy a new car with no-deposit finance with fixed monthly repayments which can include the option to incorporate the cost of servicing as well.
During the sales process the dealer will offer you a future value of your selected model based on the number of kilometres you expect to travel over the ownership period. As long as you maintain the car in accordance with Hyundai’s recommendations and do not exceed the set kilometres the value is locked in.
Once the lease period expires owners have three choices:
1) Trade-In current car and lease a new model
2) Return the car and walk away
3) Pay balloon amount and keep the car.
Initially the financing offer will be only available on selected models, i30, Sonata, Genesis, Santa Fe and the all-new Tucson. From early next year the company hope to roll out the deal across all models.
With 85% of new car buyers sourcing finance when they are purchase a new car the Hyundai Shield program allows Hyundai to compete with the likes of Skoda, Volkswagen, Holden and Toyota.
