By Seo Jae-geun, Herald Economy Hyundai Motor said on April 5 it will roll out the Hyundai Easy Start program to ease customers’ financial and psychological burdens when buying and owning a vehicle.
The Easy Start program expands and strengthens purchase-relief and fuel- or charging-cost support that had previously applied only to a limited set of models, extending those incentives across several popular lines.
As a purchase incentive, Hyundai is offering Easy Start special terms with discounts of up to ₩3,000,000 (about $2,250). Under the plan, the Santa Fe and Sonata qualify for up to ₩3,000,000 (about $2,250); the Ioniq 6 and Kona Electric up to ₩2,000,000 (about $1,500); the Ioniq 5 up to ₩1,500,000 (about $1,125); and the Porter LPDi up to ₩1,000,000 (about $750).
Hyundai has also broadened and improved its vehicle-return deferral financing—originally part of the Hyundai EV Burden Down promotion for Kona Electric, Ioniq 5, Ioniq 6 and Nexo—to include the Sonata, Santa Fe and Porter LPDi with more customer-friendly terms.
Under this vehicle-return deferral plan, the lender guarantees the car’s residual value up front, defers repayment of that portion of the loan, and the customer pays interest only on the remaining principal and the deferred amount. At term-end, the customer can satisfy the deferred balance by returning the vehicle.
For the Santa Fe and Sonata, Hyundai increased the 60-month finance residual rate by 3 to 10 percentage points. For the Porter LPDi, Hyundai added a 60-month financing option so customers can access the vehicle with lower monthly payments in the ₩200,000–₩300,000 range (about $150–$225).
Estimated monthly payments by model (based on starting prices) lower initial outlays: Santa Fe about ₩330,000 (about $248; down roughly ₩10,000, about $8); Sonata about ₩270,000 (about $203; down about ₩40,000, about $30); Porter LPDi about ₩240,000 (about $180); Ioniq 5 about ₩210,000 (about $158); Ioniq 6 about ₩240,000 (about $180); Kona Electric about ₩210,000 (about $158); and Nexo about ₩280,000 (about $210). In dollar terms, these figures are roughly $248, $203, $180, $158, $180, $158 and $210, respectively.
Hyundai will also cover fuel and charging costs worth up to ₩400,000 (about $300), equivalent to roughly two to three months of operating expenses depending on the model.
Under the vehicle-return deferral plan, Santa Fe and Sonata buyers receive a fuel voucher worth ₩300,000 (about $225) at delivery. Customers who meet Hyundai card spending requirements and enroll in the Save Auto program can receive a ₩150,000 (about $113) discount plus a ₩150,000 (about $113) cashback.
Porter LPDi buyers get a ₩200,000 (about $150) LPG charging card. Customers working in primary industries (agriculture, livestock and fisheries) and commercial operators receive an additional ₩200,000 (about $150) vehicle discount, bringing total benefits to as much as ₩400,000 (about $300). Ioniq 5, Ioniq 6 and Kona Electric buyers receive ₩200,000 (about $150) toward charging costs, and Nexo buyers receive ₩400,000 (about $300).
Hyundai also runs an Advantage Program that allows customers to swap models, exchange for a new car of the same model, or have the remaining finance balance waived if they return the vehicle during the loan term due to changed circumstances.
Customers who bought key EVs under the EV Burden Down vehicle-return deferral product continue to be eligible for the Stress Free Package, which helps cover repair costs and deductibles after an accident.
Separately, Genesis is offering up to a 10% special discount through a Private Offer promotion on three models—G80, GV70 and GV80 (excluding electrified versions).
A Hyundai spokesperson said, “Through Easy Start and other purchase-support and service programs, we aim to reduce customers’ real costs across the entire ownership cycle and make Hyundai’s broad lineup more accessible to a wider range of buyers.”
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