Hyundai Capital Services, the financial subsidiary of the Hyundai Motor Group, announced the 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 aims to offer products tailored to the passenger vehicles of Hyundai dealerships and Genesis showrooms in Australia. HCAU started servicing and providing exclusive financial solutions for Genesis in October. This launch of Hyundai Finance and Genesis Finance marks the beginning of HCAU’s drive for the auto financing business in Australia.
Leveraging Hyundai Motor Company’s global credit ratings, 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 is HCAU’s premier offering for the Australian market. The GFV loan guarantees a minimum resale value of the vehicle, which enables 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:
- 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.
- Keep: pay the GFV amount to own the vehicle outright.
- 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. 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,” said Hyung-Jin David Chung, CEO of Hyundai Capital.
He added, “Hyundai Capital will continue to expand its business reach in key strategic markets to promote Hyundai Motor Group’s global sales growth.”
