Stellantis Korea has partnered with Woori Financial Capital to introduce ultra-low-interest financing products aimed at alleviating the burden of car purchases for customers facing high inflation and interest rates.
The officially launched ‘Jeep Financial Services’ and ‘Peugeot Financial Services’, through an exclusive financial partnership with Woori Financial Capital, offer significantly lower interest rates of 0-4% compared to market banks and other financial products, easing the customer’s burden on interest and monthly payments.
For Jeep, during the 60-month installment program, interest rates range from 0% to a maximum of 4.5%, depending on the model and down payment (0%, 30%). The newly introduced 2024 Jeep Wrangler model can be purchased with attractive monthly payments ranging from 900,000 to 1,500,000 KRW depending on the down payment, while the interest rate remains the same at 4.3% regardless of down payment. The Renegade offers an extraordinarily low interest rate of 0.8% for a 30% down payment, allowing it to be purchased at a reasonable price of around 500,000 KRW per month. The Grand Cherokee 2nd-row model offers the striking benefit of ‘0% down payment + no-interest installment plans’ for the Limited trim, while the Overland trim offers either a no-interest installment plan in the range of 900,000 KRW per month or a low-interest product at around 0.9%. The Grand Cherokee L also provides the option to choose between a no-interest installment plan or a 1.45% interest rate product based on the down payment.
Peugeot also offers a low-interest 60-month installment program. Especially noteworthy is the exclusive offer for customers purchasing the electric vehicles e-208 and e-2008 SUV, which provides a no-interest installment plan regardless of down payment. Customers can own these electric vehicles at minimal monthly payments starting from around 650,000 KRW without any down payment or about 430,000 KRW with a 30% down payment.
Internal combustion engine models mostly provide low-interest products in the range of 3-4%. Without a down payment, the 408 can be operated at around 700,000 to 800,000 KRW per month, the 508 is available for a monthly payment of around 700,000 KRW, while the 3008 SUV goes for about 700,000 to 800,000 KRW, and the 5008 SUV can be acquired for around 800,000 to 900,000 KRW. With a 30% down payment, the 408, 508, and 3008 SUVs can be operated at around 500,000 KRW per month, while the 5008 SUV would be around 500,000 to 600,000 KRW.
Director Bang of Stellantis Korea explained, “We have prepared various financial products to reduce the customer burden with reasonable prices and differentiated benefits,” adding, “We plan to lower the barriers to purchase and create opportunities for communication so that more customers can experience the unique charms of Jeep and Peugeot.”
Lee Sang-jin daedusj@autodiary.kr