Hyundai Commercial Launches Deferred Payment Program with Used Vehicle Price Guarantee to Ease Burden for Commercial Truck Owners

"Reducing Monthly Payment Burdens and Guaranteeing Used Vehicle Prices"

On May 7, Hyundai Commercial announced that, in collaboration with Hyundai Motor Company, it will launch the ‘Mighty·Pavise Purchase Burden Down’ program for commercial truck customers. This program is designed to reduce monthly payment burdens while guaranteeing used car prices.

Hyundai Commercial has introduced the 'Used Car Price Guarantee Deferral Product' to reduce the monthly payment burden for commercial vehicle owners amid the era of high oil prices. Hyundai Commercial

This program was created for commercial vehicle owners whose operating costs have increased due to high fuel prices in the era of expensive oil. Up to 60% of the new vehicle price is guaranteed as the used car price and deferred until maturity, significantly reducing monthly payments.

The eligible vehicles are 'The New 2027 Pavise' and 'The New 2027 Mighty', which Hyundai Motor Company unveiled on the same day. If special equipment such as wing bodies or box trucks is installed, the same deferral rate can be applied to the price of the special equipment.

Depending on the loan period, 60% of the vehicle price can be deferred for 36 months, 55% for 48 months, and 50% for 60 months until the loan matures. At maturity, customers can either sell the vehicle themselves or return it to repay the deferred amount.

When returning the vehicle, customers are guaranteed the pre-agreed deferred amount as the used car price, which eases concerns over residual value fluctuations at maturity.

For example, if a customer purchases a Pavise 8.5-ton wing body truck priced at 146 million won and uses the program with a 60-month term, 73 million won (50%) can be deferred until loan maturity.

In this case, the monthly payment can be reduced by about 37% compared to a standard equal principal and interest installment plan. If the vehicle is returned at the end of the loan term, the customer is guaranteed the pre-agreed amount of 73 million won, which is used to settle the deferred payment and alleviates the burden of final repayment.

A representative from Hyundai Commercial stated, "We designed this program to ease the burden on truck owners as the cost of operating commercial trucks has increased due to high oil prices," adding, "We will continue to introduce a variety of financial programs and services that provide tangible benefits to commercial vehicle owners in the future."

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