Hyundai Motor has significantly expanded its trade-in benefits in connection with certified pre-owned cars. Trade-in allows consumers to return their used vehicles to the manufacturer and purchase new models. This enables consumers to buy new cars at lower prices than the initial selling price.
Hyundai announced on the 9th that if consumers sell their existing vehicles as certified pre-owned cars and purchase a new Hyundai or Genesis vehicle, they can receive a cash discount of up to 2 million won.
Only last month, discounts were limited to a maximum of 500,000 won for purchasing new models such as the Ioniq 5 and 6, and Kona Electric. However, starting this month, discounts of 1 million to 2 million won will be available for a total of nine models (five from Hyundai and four from Genesis).
The three Genesis electric models (GV60, GV70 electrified model, and G80 electrified model) have been included in the trade-in cash discount eligible vehicles starting this month. The mid-size SUV GV70 has also been added to the list of eligible models. If customers sell their existing vehicles to Hyundai or Genesis certified pre-owned and purchase one of these four models, they’ll receive a discount of 2 million won.
Hyundai has also increased the number of models eligible for cash discounts to five. In addition to the existing three models (Ioniq 5, Ioniq 6, and Kona Electric), the all-new Santa Fe (excluding hybrid models) and Palisade have been added. If consumers sell their existing vehicles to Hyundai or Genesis certified pre-owned and purchase these cars, they will get a discount of 1 million won.
The compensation program for consumers selling their existing vehicles remains in place. Depending on the condition of the vehicle, compensation of up to 4% of the selling price can be provided. For internal combustion engine vehicles, cars from other brands (within 8 years of release and with mileage under 120,000 km) can also be sold.
Consumers who wish to trade in can sell their existing vehicles through the ‘Sell My Car’ service on the Hyundai or Genesis certified pre-owned application or website up to 15 days prior to the new vehicle delivery.
Hyundai stated, “By expanding the eligible models and discount amounts for trade-in benefits, we strive to provide a one-stop service for customers from the sale of existing vehicles to the purchase of new cars.”
Lee Sang-jin daedusj@autodiary.kr