Hyundai Lowers Auto Loan Rates in FebruaryBy Liz Opsitnik
Wednesday, Feb 02 2011 16:05
Hyundai is offering similar new car incentives in February to the deals it has offered over the past few months, except for its car loan rate incentives. In February, Hyundai has lowered the auto loan rates on select models. Hyundai is also offering cash back rebates and discounted lease deals on most 2010 and 2011 vehicles.
Hyundai is actually offering 0 percent car loan financing on a couple vehicles this month. This is rare, so if you had the 2010 Genesis and 2010 Veracruz on your short list and have a high enough credit score to qualify, February is the month to buy.
Hyundai's low auto loan rates range from 0.9 to 2.9 percent in February on most 2010 and 2011 vehicles. This is a better offer than the 1.9 to 4.9 percent car loan rates Hyundai offered the past few months. Although Hyundai is offering lower interest rates this month, it also shortened the length of the auto loans on these deals. Normally, Hyundai's car loan incentives were good up to 60 or 72 months. In February, the lower auto loan rate incentives are good up to 36 or 48 months. Higher interest rates are still available if you prefer a longer auto loan. Your monthly payments will be much higher with a 36-month auto loan than a 60-month loan. February's lower auto loan rates vary depending on the model and length of the car loan.
Select Hyundai vehicles also have $500 or $1,000 in bonus cash in addition to their low auto loan rates in February. The bonus cash must be used toward your down payment when you finance through Hyundai Motor Finance.
The 2010 Hyundai Veracruz has 0% financing for 48 months in February.
Customer cash back is different from bonus cash, and Hyundai is allowing you to combine its cash back with the low auto loan rate incentive on certain models. The cash back can't be used with a lease incentive though. Hyundai is offering cash back of $500 to $2,500 in February on select models.
Hyundai has nine lease incentives in February. Most are 36 months long, but a few have a 24-month option. Monthly lease payments range from $169 for the 2011 Elantra to $739 for the 2011 Equus. You'll need a couple thousand dollars at lease signing.
In February, Hyundai also has discounts for college graduates and members of the military.
Incentives listed are for the southeast region. They may differ depending on where you live. Check Hyundai's site to find the incentives in your area.
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