New offers from Hyundai are helping first-time buyers, including younger new car customers, find ways to creatively finance the Korean auto maker’s vehicles and pay off their car with less hassle. A recent press release from Hyundai shows the auto maker is willing to offer an incentive to new car customers who bring a down payment along to participating dealer lots.
The offer is in the form of a collaboration between Hyundai and a company called Motozuma. The services at Motozuma.com are comprehensive savings and personal finance tools that help individual consumers manage their plans to make big purchases, whether it’s a car, a home or other high value assets. With Motozuma’s unique platform, individuals can save their pennies for the eventual high-dollar buy, helping themselves to bypass some of the most common problems with car financing and other similar borrowing deals. Now, Hyundai is actually willing to “match” a down payment made through a Motozuma account, up to a $500 value, for the purchase of a 2011 or 2012 Hyundai.
Most of us understand how a down payment helps new car customers to get approved: the bigger cash payment helps lenders to understand that the consumer is serious about paying off the vehicle. It gives the borrower “skin in the game” and helps all parties to avoid some common problems with defaults on new car deal, including the age-old repo-man and the newer engine immobilizer method employed by lenders who don’t get their money. The down payment also helps borrowers to minimize the amount that they pay interest on when making those monthly payments.
As an additional service, those who utilize the Hyundai/Motozuma matching funds deal can rely on the Motozuma company to present the down payment to the dealer or lender. That means no lugging high value cashier’s checks to the dealer’s lot, just another way that this new option is appealing to modern car customers. So, if you’re one of many focusing on the positives of “high value for cost” models like the Hyundai Elantra or Hyundai Sonata, with lower MSRP than competing models and many competitive safety and convenience features, look at how the new financing deal with Motozuma can shave some of the cost off of your final agreement at the dealer’s lot.