- Standard leasing terms: 24, 36 and 48 months
- Standard annual mileage limits: 10,000-25,000 miles
- Mileage overage fee: 20 cents per mile
Leasing allows flexibility and a lower monthly payment than a purchase. The main downside is that at lease-end, you’ll either have to buy your leased car or turn it in and start from scratch. There are also restrictions on mileage and wear and tear. Too many miles or damages, and you could be charged for it. Read more about whether to lease or buy.
How to apply for Hyundai financing
Whether you apply directly to Hyundai Motor Finance online or in person at a dealership, you need to first pick out the car you want. You’ll then provide personal details for you and your cosigner (if you have one) including address, Social Security number, employment, income and monthly rent or mortgage payment.
Alternatives to Hyundai Finance
HMF is just one way to finance a Hyundai. It’s smart to get multiple loan offers so you know what rates and terms you deserve. That way, if you don’t qualify for a low or 0% APR deal, you’ll have a fallback plan and won’t have to rely on the dealer to arrange financing for you. You could apply directly with your own bank, credit union or online lender, which may discount your loan in exchange for setting up automatic loan payments.
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More about Hyundai
Based in South Korea, Hyundai Motor Company is a global car manufacturer that sold 4.4 million vehicles in 2019. In addition to the Hyundai name, it also owns the luxury brand Genesis and is a heavy investor in the mass market brand Kia and the United Kingdom-based startup Arrival, an electric vehicle company. This doesn’t mean you can buy a Genesis or Kia through Hyundai Motor Finance — both brands have their own financing arms.
However, Hyundai and Kia often partner on shared technology including an augmented reality owner’s manual. Once you’ve downloaded the appropriate app, simply hold your phone or tablet over the control panel or engine and it will point out what’s what.