Hyundai Finance debuts in the Philippines with EastWest, BDO, and BPI
Hyundai Motor Philippines Inc. (HMPH) has collaborated with esteemed local banking partners to introduce an exclusive range of car payment options under the banner of “Hyundai Finance.” This initiative is being inaugurated in conjunction with three reputable local banks: East West Bank (EWB), Banco De Oro (BDO), and Bank of the Philippine Islands (BPI), all of which are renowned for their reliability in facilitating swift and straightforward applications for Hyundai customers.
Photo: Hyundai
This groundbreaking venture’s official agreement signing ceremony occurred on October 19, 2023, at CONRAD Manila in Pasay City. Present at the event were Mr. Dongwook Lee, President of HMPH, and Mr. Cecil Capacete, HMPH Managing Director, along with representatives from the partner banks, namely Ms. Jocelyn Legaspi of EWB, Ms. Susan Audrey Rivera of BDO, and Mr. Dennis Fronda of BPI. The collaboration aims to streamline the financing process for Hyundai customers and make it more accessible, leveraging the support of these trusted banking institutions.
Photo: Hyundai
According to Mr. Dongwook Lee, President of HMPH, the introduction of Hyundai Finance is a strategic move to better cater to the needs of Filipino customers, making it easier for them to realize their dream of owning a Hyundai vehicle. This initiative reflects Hyundai’s commitment to continuous innovation in enhancing the overall customer experience.
Photo: Hyundai
Specific financing schemes have been rolled out for the Creta and Stargazer models to kick off the Hyundai Finance program. These include low cash outlay options based on a 20% downpayment for a 60-month term, free amortization for up to 5 months, and zero interest at a 20% downpayment for 12 or 18 months. The detailed terms and conditions are available on Hyundai Motor Philippines’ website, where interested individuals can fill out forms online or seek information at their nearest Hyundai dealership. It’s important to note that these offerings are subject to bank approval, and the promotional period is from November 3 to December 31, 2023. This strategic partnership between Hyundai and esteemed banking institutions seeks to redefine the car-buying experience for Filipino consumers, offering them flexible and attractive financing options.
Financing Schemes for Creta and Stargazer Models:
Photo: Hyundai
- Low Cash Outlay – 20% Downpayment for 60 Months Term:
Stargazer 1.5 GL IVT: Php 38,000.00
Stargazer 1.5 GLS IVT: Php 78,000.00
Creta 1.5 GL IVT: Php 58,000.00
Creta 1.5 GLS IVT: Php 88,000.00
- Free Amortization – Up to 5 Months for 60 Months Term:
Stargazer 1.5 GL IVT: Php 21,405.00 (for 5 months)
Stargazer 1.5 GLS IVT: Php 24,010.00 (for 3 months)
Creta 1.5 GL MT: Php 21,004.00 (for 3 months)
Creta 1.5 GL IVT: Php 24,611.00 (for 3 months)
Creta 1.5 GLS IVT: Php 27,818.00 (for 1 month)
- Zero Interest – 20% Downpayment for 12 or 18 Months Term:
Stargazer 1.5 GL IVT:
SRP (Php): 1,068,000
DP Amount (Php): 213,600
12 Months Net Monthly Amortization (Php): 71,200.00
18 Months Net Monthly Amortization (Php): 47,467.00
Stargazer 1.5 GLS IVT:
SRP (Php): 1,198,000
DP Amount (Php): 239,600
12 Months Net Monthly Amortization (Php): 79,867.00
18 Months Net Monthly Amortization (Php): 53,245.00
Creta 1.5 GL MT:
SRP (Php): 1,048,000
DP Amount (Php): 209,600
12 Months Net Monthly Amortization (Php): 69,867.00
18 Months Net Monthly Amortization (Php): 46,578.00
Creta 1.5 GL IVT:
SRP (Php): 1,228,000
DP Amount (Php): 245,600
12 Months Net Monthly Amortization (Php): 81,867.00
18 Months Net Monthly Amortization (Php): 54,578.00
