Hyundai Construction Equipment Launches Korea's First Installment Financing Product for Excavator Attachments

"Up to 36 Months Full Loan Interest Benefit on Release Price"

[Asia Economy Reporter Moon Chaeseok] Hyundai Construction Equipment is launching the first installment financing product for excavator attachments in Korea. It offers full loan interest benefits on the purchase price for up to 36 months.

On the 20th, Hyundai Construction Equipment announced that it signed a memorandum of understanding (MOU) with Jeonju Songcheon Saemaeul Geumgo to launch the installment financing product for excavator attachments. This is the first time such a product has been introduced in Korea.

When purchasing, customers can enjoy loan interest benefits on the full purchase price for up to 36 months. In particular, if customers buy a new excavator and attachments together from Hyundai Construction Equipment, they can receive 50-100% loan interest benefits on the new vehicle purchase price for up to 60 months.

Attachments are accessories installed on the excavator body tailored for various tasks such as crushing, cutting, and drilling. Representative examples include grapples, rotary links, drills, grapples, breakers, and crushers.

Hyundai Construction Equipment Material Handler HX250MH equipped with a special attachment for sorting recyclable materials and waste.
[Photo by Hyundai Construction Equipment]

In the financial industry, installment financing products have only been offered when purchasing new complete equipment recognized for collateral value. Jeonju Songcheon Saemaeul Geumgo launched a credit loan product based on its extensive experience in construction equipment loans as a core business.

A Hyundai Construction Equipment official said, "We have prepared the industry's first financing product for attachments that reduces the burden of equipment purchase," adding, "Applying various attachments to equipment can improve work efficiency and safety."

Hyundai Construction Equipment is supporting installment financing for construction equipment purchase funds together with Hyundai Commercial. They are seeking various ways to reduce customer burdens, such as launching low-interest financial products and lowering screening criteria.

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