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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Hyundai Financing: What To Know in 2024

Updated on:
Content was accurate at the time of publication.

Hyundai. In Korean, it means “modernity.” With technology like solar sun roofs for EV charging and state-of-the-art collision avoidance, that moniker fits. Although Hyundais are rather affordable, you’ll probably need a car loan to make your dream a reality.

You might think that you can only get a car loan at the dealership. For most, this isn’t the case. Review all of your Hyundai Financing options here. While you’re at it, use the data from our exclusive study to see how competitive your loan offer really is.

 Use our auto loan calculator to determine how much car you can afford.

Depending on where you’re at in your new car quest, you might have a loan offer in hand. To help you evaluate that offer, we conducted a study using data from Experian, Kelley Blue Book and other reputable sources. Our goal was to estimate monthly Hyundai payments for borrowers of different credit bands.

To use our study, you first need to know your credit score. Then, review the tables and find the model and credit band that you most closely match with. From there, you can see whether your quoted monthly payment is higher or lower than our estimate.

Note that these average monthly payments are based on the manufacturer’s suggested retail price (MSRP). We did not factor in any dealer fees, title transfer fees or add-ons. Also, your monthly payment depends on factors that are unique to you. These include your loan amount and, in some cases, where you live and the model you’re buying.

If you’re curious why some of our low-credit borrowers pay less monthly than higher-credit borrowers, it’s because of loan terms. Experian data shows that those with higher credit scores typically choose shorter loan terms. Shorter loan terms result in a higher monthly payment but less overall interest.

Learn more about how we calculated average monthly Hyundai payments.

Estimated average monthly payments for new Hyundais

ModelStarting MSRPMonthly payment (501-600 credit score)Monthly payment (601-660 credit score)Monthly payment (661-780 credit score)Monthly payment (781-850 credit score)
2024 Hyundai Elantra$21,475$278.48$259.35$253.25$271.21
2024 Hyundai Sonata$27,500$393.66$366.61$357.99$383.37
2024 Hyundai Tucson$27,250$388.88$362.16$353.64$378.72
2024 Hyundai Santa Fe$33,000$498.79$464.53$453.60$485.77
2024 Hyundai Kona$24,100$328.66$306.08$298.88$320.08

Estimated average monthly payments for used Hyundais

ModelFair purchase priceMonthly payment (501-600 credit score)Monthly payment (601-660 credit score)Monthly payment (661-780 credit score)Monthly payment (781-850 credit score)
2018 Hyundai Elantra$10,890$163.99$141.89$127.32$127.00
2018 Hyundai Sonata$10,584$156.59$135.49$121.57$121.27
2018 Hyundai Tucson$14,151$242.87$210.53$188.56$188.09
2018 Hyundai Santa Fe$15,168$267.48$231.44$207.66$207.15
2018 Hyundai Kona$11,856$187.36$162.11$145.46$145.10

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Picking out your new Hyundai can be a lot of fun. At least, more fun than finding the right car loan. Still, researching your auto financing options before signing is essential for finding the loan with the lowest rates.

 Hyundai Motor Finance


Best if...

You’re purchasing a Hyundai with a special offer or value new car warranties.

If you qualify, you might find the best financing for your Hyundai straight from the manufacturer. This is called captive financing. In this case, you’d get your loan from Hyundai Motor Finance.

When you go through captive financing, you can gain access to manufacturer-specific Hyundai financing deals. Hyundai calls these “special offers.” The most sought-after Hyundai special offer may be 0.00% APR (annual percentage rate). Another special offer could also be cash off your MSRP or a discounted monthly lease payment.

Special offers vary by ZIP code and dealer, and they run for a limited time. To find out what may be available for you, check Hyundai’s website or speak with a local Hyundai dealer.

Other than its special offers, you might find other benefits with Hyundai Motor Credit, including:

New car warranties

Hyundai’s new car warranty is longer than most other manufacturers. Maybe that’s why they’ve dubbed it “America’s Best Warranty.” With it, you may get a:

  • Ten-year, 100,000-mile powertrain limited warranty
  • Five-year, 60,000-mile new vehicle limited warranty
  • Seven-year, unlimited-mile anti-perforation warranty
  • Roadside assistance plan for five years, with unlimited miles

Separate warranties also apply to replacement parts and accessories, emission defects and emission control. Electric and hybrid owners get a 10-year, 100,000-mile warranty on their batteries, too.

Electric vehicle charging program

Hyundai may pay for about 1,000 miles of charging if you purchase or lease a new KONA Electric. For IONIQ 5 and IONIQ 6, you could get two years of 30-minute DC fast-charging sessions.

Cash bonuses

Military members could get a cash bonus of up to $500 to use for their new Hyundai vehicle purchase or lease. The same is true for eligible first responders. Recent and upcoming college grads could get up to $400 (with proof of employment).

Mobility program

Hyundai may reimburse you up to $1,000 after installing medically necessary adaptive equipment in your new car.

Certified pre-owned vehicles

For Hyundai to deem a vehicle as certified pre-owned, it must pass a 173-point inspection. It must also be newer than seven years old and have less than 80,000 miles.

Once certified, these vehicles come with extensive warranties, a CARFAX report, travel interruption reimbursement, roadside assistance and more.

You can formally apply with Hyundai Motor Credit on its website. You’ll need to agree to a hard credit pull — it does not offer prequalification or preapproval. However, some Hyundai dealers offer preapproved car loans. Contact your local dealer to see if this is an option for you.

Most manufacturers don’t disclose their credit score requirements, Hyundai included. Generally, getting an affordable car loan can be challenging if your score is below 660. To take advantage of the best Hyundai financing deals, you’ll almost certainly need at least good credit (more than likely excellent, or 740+).

 Bank and credit union auto loans


Best if...

Your financial institution offers an autopay APR discount or car-buying service.

Banks and credit unions can be a good place for a car loan, especially if yours provides a discount for banking and borrowing. For instance, if you set up autopay on a PNC Bank auto loan with a PNC checking account, you could get 0.25% off your APR.

Banks and credit unions can offer low rates, but comparing them side by side, credit union auto loans usually come out on top. Credit unions also typically offer other benefits to their members. Some may mark down APRs if you use its car-buying service. PenFed is an example here.

Like car manufacturers, banks and credit unions rarely disclose what credit score you need to buy a car with their financing. However, yours may be willing to look past a few blemishes if you’ve been banking (responsibly) with it for a long time.

 Online auto loans


Best if...

You’re comparing multiple loans at one time, no matter if you have good or bad credit.

When you’re shopping for a car, do you check prices at only one dealership? Probably not. Instead, you research dealers to find the ones offering the best deals. The same should apply for auto loans.

Comparing multiple offers is perhaps the most effective way to find the loan with the lowest APR. That’s because each lender has its own way of determining creditworthiness. You can safely and securely compare up to five lenders at a time on LendingTree’s auto loan marketplace. And don’t worry — checking rates won’t hurt your credit score.

Another great thing about online loans is that there’s usually a lender for every credit band. Good- to excellent-credit borrowers might want to check out a LightStream auto loan for its generally low rates. And if you have bad credit, Carvana might be an option because it doesn’t have a minimum credit score requirement.

 In-house financing


Best if...

You have bad or no credit and have no other options.

Avoid in-house financing if you can. You might know these loans as buy here, pay here, but whatever you call them, they are expensive. When you get an in-house loan, you’re getting it from your dealer — not a lender or financial institution.

Typically, the easier a loan is to qualify for, the higher its APR. That rule applies to in-house financing. These loans have loose eligibility requirements and can be appealing (or seemingly the only option) if you have bad credit. In-house financing often comes with predatory APRs.

Buy here, pay here dealers also specialize in older models, putting you at risk for an upside down car loan. If you’re considering in-house financing, exhaust all your options. If you have time, improve your credit score before buying your car or save up to pay for a used car with cash.

To calculate average monthly Hyundai payments, we found estimated starting MSRPs and fair purchase prices for some of Hyundai’s most popular models.

Then, we subtracted an average down payment from each. According to Edmunds, the average down payment on a new vehicle was $6,907 in Q3 2023. For used vehicles, it was $4,111. The resulting figure represents the total amount our hypothetical borrowers financed.

From there, we used our auto loan calculator to figure out average monthly Hyundai payments, using average APRs and loan terms as reported by Experian’s State of the Automotive Finance Market Q3 2023. You’ll find this data in the tables below. Please note that loan terms were rounded to the nearest whole number during our calculations.

Hyundai finance interest rates are based on limited-time special offers, your ZIP code, what dealership you use, your credit score and other factors. It’s best to apply for preapproval with a Hyundai dealer to see what rates you might qualify for.

Some Hyundai financing deals (at the time of this writing) include 0.00% APR on the 2023 Sante Fe and 2024 Tucson in select areas. The 2024 IONIQ 5 SE and 2024 KONA Electric SE could have APRs as low as 0.99%. Remember, though — you’ll need top-tier credit to qualify for Hyundai’s lowest rates.

No, Kia Finance America provides financing for Kias, and Hyundai Motor Credit provides financing for Hyundais. However, Hyundai is Kia’s parent company. Even so, Kia and Hyundai have separate financing arms.

You might find Hyundai financing deals by shopping around major holidays. The new year and beginning of the spring can also be good times as many lots are trying to make room for new models. Additionally, some dealers may need to meet monthly sales quotas. If they’re not on target, they might be more motivated to sell at the end of the month to meet their goal.