"Return Without Fee After 36 Months"…Hyundai Capital Launches Industry-First Car Lease Free Return Product

'Launch of "Car Lease Free Return" Product'

[Asia Economy Reporter Ki Ha-young] Hyundai Capital announced on the 11th that it has launched the 'Car Lease Free Return Type' product, the first in the lease industry that allows customers to conveniently terminate the lease early at their desired time.

The Free Return Type product is characterized by reducing the customer's monthly lease fee burden and allowing customers to freely return the vehicle at their desired time after using it for a certain period.

Generally, in car leases or long-term rental car products, if customers need to return the vehicle due to sudden reasons during the contract period, they have to bear a high early termination fee (approximately 7 million KRW for early termination in the 37th month based on a Grandeur priced at 33.55 million KRW) or face the inconvenience of finding a contract successor themselves.

The Free Return Type product introduced by Hyundai Capital this time is a 60-month fixed product that can be used at a lower monthly payment compared to general car lease products. Also, if the customer uses it for only 36 months during the contract period, they can terminate the contract at any time without an early termination fee.

This product also includes all the advantages of Hyundai Capital car leases. It allows installment payment of acquisition tax and automobile tax incurred when purchasing the vehicle, reducing the initial lump-sum burden. Along with this, Hyundai Capital handles vehicle registration and delivery, which are cumbersome for individuals, as well as payment of fines and penalties.

In particular, individual business owners can benefit from reduced regional health insurance premiums due to car lease usage, and for vehicle types eligible for VAT refunds, they can also enjoy tax savings.

This content was produced with the assistance of AI translation services.