Renault Korea Launches Car Installment Plan with Interest Rates in the 4% Range

Renault Korea XM3 E-Tech Hybrid

[Asia Economy Reporter Choi Dae-yeol] Renault Korea Motors announced on the 23rd that it will operate a 4.9% installment plan for all vehicle models until the end of this month.

This product can be used with up to 36 months of full installment payments without any separate cash down payment. All models, including QM6, SM6, and XM3, are eligible, with a 5.9% rate for 48-month installments and 6.9% for 60 months. The new trims of XM3 E-Tech Hybrid and SM6 Phil are only available with 36-month installment plans.

This promotional activity targets the increased consumer burden due to high interest rates, which recently exceeded 10% for new car purchases. Additionally, a smart residual value guaranteed installment plan, which allows customers to defer a certain amount of installment payments to reduce monthly payments and choose options such as repayment, vehicle return, or installment extension at the final installment based on their situation, is also available for all models at interest rates ranging from 5.9% to 6.9%.

Renault Korea introduced various models that can reduce maintenance costs in the era of high inflation. The QM6 LPe, which uses liquefied petroleum gas (LPG), can travel 534 km on a 60ℓ fill. As of the previous day, LPG costs 1,031.41 KRW per liter, meaning it costs 61,884 KRW to travel over 500 km. The newly introduced SM6 Phil trim is priced 940,000 KRW lower than the existing LE trim. The XM3 Hybrid can run in electric mode alone in most urban areas.

Meanwhile, the company plans to hold a consumer test drive event at dealerships nationwide until the 25th of next month, offering desk calendars or home appliances as prizes.

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