Hyundai COVID-19 Support

Hyundai Assurance Program

6-month payment break for new customers

When you buy a new Hyundai between 28th April and 31st July 2020 through Hyundai Finance, we’ll give you a 6-month payment break in the event you lose your job due to COVID-19 within the first 6 months of your purchase. We will also cover the interest incurred during your payment break.*

Current Customer Support

We want to work closely with our existing customers to help them manage the impact of COVID-19 too. We have the following options below available for our current family.

3 Months of reduced payments

We will work with you to reduce your interest and principal payments for 3 months. Your loan term will be extended by three months so that you can catch-up on the reduced interest and principal payments at the end of your loan.*

Interest only payments for 3 months

Three months of interest-only payments to give you a bit of breathing room. Your loan term will be extended by three months so that you can catch-up on the principal payments at the end of your loan.*

Warranty & Service Extensions

Due to the COVID-19 lockdown, Hyundai New Zealand will be extending new vehicle warranties and service intervals to eligible customers. As a New Zealand owned company, this is part of our commitment to providing a first class ownership experience. 

Finance Support

We understand that COVID-19 is causing significant disruption to people and businesses. We want to work closely with our customers to manage any financial impacts by getting a plan in place as soon as possible.

If you find yourself in a situation where you are concerned about making your Hyundai Finance loan repayments, please get in touch by emailing customerservice@hyundai.co.nz or calling us on 0800 HYUNDAI (498 632).

COVID-19 Support for Personal and Small Business Customers

If you or your business have a Hyundai Finance loan with a balance of less than $250,000 and have been impacted by COVID-19, we are offering a support package. You may be eligible for one of the following:

  • Three months of interest-only payments. Your loan term will be extended by three months so that you can catch-up on the principal payments at the end of your loan.
  • Three months of deferred interest and principal (payment holiday). Your loan term will be extended by three months so that you can catch-up on the deferred interest and principal payments at the end of your loan.
  • You will not be charged a variation fee for these changes.

A variation letter will be sent to you setting out the agreed changes to your loan.

In your email to customerservice@hyundai.co.nz please include:

  • Your full name (and business name if applicable) and either your customer number or vehicle registration (if the finance relates to a vehicle)
  • What you are seeking: interest-only or fully deferred payments for three months
  • Tell us how your circumstances have changed
  • Let us know how you would prefer to be contacted, i.e. email, landline, mobile
 

COVID-19 Support for Commercial and Business Customers

For Business Customers with loans over $250,000 we will work with you to tailor the right kind of support for your business. This could include:

  • Reduced principal & interest payments, for an agreed period of time
  • Interest-only payments, for an agreed period of time
  • Deferred payments, for an agreed period of time
  • Extensions of the facility term.

You will not be charged a variation fee for these changes. 

A variation letter will be sent to you setting out the agreed changes to your loan.

Please email customerservice@hyundai.co.nz or call 0800 HYUNDAI (498 632).

 

Terms and Conditions

6-month payment break for new customers

Hyundai Assurance is available to customers who purchase a new Hyundai car between 28 April and 31 July 2020 using Hyundai Finance. Customers must be employed as a full-time employee at time of purchase to be eligible for this offer and cannot be self-employed.

Hyundai Assurance provides customers who lose their job within the first 6 months of entering into the finance agreement with the option to defer interest and principal payments for up to 6 months. Hyundai will make the interest payments on behalf of the customer for the agreed period of time to a maximum of 6 months whilst the principal payments for that period will be deferred. Customers will still be required to repay the full amount of the loan and the term of the loan may be extended to match any agreed deferred period by up to 6 months.

Written, verifiable proof of job loss will be required should a customer request Hyundai Assurance. This program does not apply to voluntary redundancy, dismissal due to disciplinary action, or to circumstances where a customer remains employed with reduced pay. Loan repayments can be deferred for a maximum of 6 months. Hyundai Finance lending criteria and terms and conditions apply to any loan.  Hyundai Assurance is only available to consumer customers for the purchase of a car. Excludes companies. Exclude truck purchases.

Options for existing customers

Customers with an existing Hyundai Finance loan with a balance of less than $250,000 that have been impacted by COVID-19 may be eligible for:

• Three months of reduced principal and interest payments. Your loan term will be extended by three months so that you can catch-up on the payments at the end of your loan
• Three months of interest only payments. Your loan term will be extended by three months so that you can catch-up on the principal payments at the end of your loan.
• Relief to fit your specific circumstances for a limited period of time.

You will not be charged a variation fee for these changes. A variation letter will be sent to you setting out the agreed changes to your loan.

Things to remember:
1. For all varied loans, interest will continue to apply during this period and will form part of the final loan amount to be repaid. This means there will be an increase in your payments after this period.
2. If you miss a scheduled loan payment (either before or after any variation to your loan agreement), this will still constitute a default under your loan agreement. If you expect to miss a payment, please contact us so that we can assist you.