[soldthetaco]

I wish I paid attention when 2022 Tucson launched, but as of right now there is 1.9% APR Hyundai incentive, and I'm not sure if that incentive started at launch too.

My plan is to 0 down if I can get 1.9% from Hyundai

$10k down if I have to finance elsewhere above 2.9%...fingers crossed Fed doesn't raise rates yet

 

[LittleBokey]

HMA has many low APR and long term programs. Some have been running for 10+ months in various forms and for various vehicles. COVID brought us 0% for 84 months!! 1.9% for 60 is available for many models now.. 72 months for models with higher retail costs. The first of each month, these programs are updated and published to the public. Check the terms, they have dates of expiraton or a notation "program may end without notice". Timing is every thing.. meaning take advantage when you can. SC specific program, IMHO, is unlikely until demand drops. But many of the current programs will still apply. Trade values are high, rates are low and long terms are all combining to make it a good time to buy. The down side of the market is low inventory, on-coming inflation and high demand. High fuel costs are also impacting dealers costs, which are passed along to customers. I've been in the industry for a long time, but I have never seen such a crazy extreme of factors driving prices. Many are in the consumers favor, some are not so good. Crazy times in the entire industry.

 

[HSC4ME]

I'm hoping for something better than my Credit Union already has me prequalified for too. At their rate I'll pay half up front and do a 3 year for the remainder. If Hyundai has 0% (unlikely on this new model) I will finance it all and stretch it out. At 0.9% I may finance more than half and at 1.9% I'm back to a 3 year for half. They are going to need 1.9% for me to even consider them.

Considering the wealthy are getting 0% loans for massive amounts of money these days, I sure hope Hyundai can swing 0% or 0.9% at the most. Treasuries have fallen hard in the last weeks and the Fed isn't raising rates any time soon, no matter what happens to inflation; they are willing and able to let the economy run HOT, because it ain't gonna be hot for long IMHO. They use the word "transitory" to ease our pain. Their word games aren't helping our pain one bit...

 

[soldthetaco]

SC specific program, IMHO, is unlikely until demand drops. But many of the current programs will still apply.

it seems that all programs are vehicle based, but I just checked 2022 Kia Telluride even has 1.9% and it's just out a month ago.
there's definitely no dropping demand for those so I don't know why Hyundai/Kia would offer that but heck I'll take any loan if % is less than inflation

 

[Chuck]

I haven't seen anything, but doubt it will have a program to match the Tucson - being a high volume model in a competitive segment, they need to offer something on the Tucson.

For other incentives, I would expect their $500 Military or $500 active First Responder rebates to apply, as they currently apply to all models.

 

[Chuck]

Incentives were released this morning - this is for the Southern Region, so this may vary in other areas. These programs only run thru 08/02/21, so it's obvious to me they expect cars on the dealer lots before month end.

$500 Military
$500 Active First Responder
$400 Recent College Graduate

1.9% for 60 months (financing up to 80%)
2.5% for 60 months and $500 bonus cash

Featured lease $269 a month for 36 months with $3,599 due at signing (I assume SE FWD, but didn't get full details yet)

 

[charlesBear]

Incentives were released this morning - this is for the Southern Region, so this may vary in other areas. These programs only run thru 08/02/21, so it's obvious to me they expect cars on the dealer lots before month end.

$500 Military
$500 Active First Responder
$400 Recent College Graduate

1.9% for 60 months (financing up to 80%)
2.5% for 60 months and $500 bonus cash

Featured lease $269 a month for 36 months with $3,599 due at signing (I assume SE FWD, but didn't get full details yet)

I'll take 1.9% in a heartbeat. My 2019 VW GTI trade is paid for, so 80% will not be a problem.

 

[Walking Black Bear]

Nothing wrong with 1.9%. A bit worse than the 1.07% GM gave us last year, but it's not 3.5/4.5% like some are offering right now.

 

[LittleBokey]

Incentives were released this morning - this is for the Southern Region, so this may vary in other areas. These programs only run thru 08/02/21, so it's obvious to me they expect cars on the dealer lots before month end.

$500 Military
$500 Active First Responder
$400 Recent College Graduate

1.9% for 60 months (financing up to 80%)
2.5% for 60 months and $500 bonus cash

Featured lease $269 a month for 36 months with $3,599 due at signing (I assume SE FWD, but didn't get full details yet)

Wow Chuck.. you are an insider.

Just saw the program today, 1.9% for first 3 tiers, up to 72 months. Those 3 tiers are 700+ FICO. For each tier after, figure an additional point. Leasing rates are ridiculously low as well. These are rates via Hyundai finance, other lenders I would think will be @ or below these rates.

And as Chuck pointed out, program runs through Aug 3rd, which means deliveries are expected very soon.

Thanks Chuck... you are the man!

 

[Wontonpierre]

Wow Chuck.. you are an insider.

Just saw the program today, 1.9% for first 3 tiers, up to 72 months. Those 3 tiers are 700+ FICO. For each tier after, figure an additional point. Leasing rates are ridiculously low as well. These are rates via Hyundai finance, other lenders I would think will be @ or below these rates.

And as Chuck pointed out, program runs through Aug 3rd, which means deliveries are expected very soon.

Thanks Chuck... you are the man!

Could you explain the tiers? 700+ FICO gets you 1.9%?

 

[LittleBokey]

Could you explain the tiers? 700+ FICO gets you 1.9%?

Tiers are a standard "term", which defines ranges of FICO scores. The higher your score, the more credit "worthy" or "less risky" you are.. tier 1 being the "best" or highest scores. In programs, these tiers dictate the APR. For the SC program, the top 3 higher score tiers are eligible for 1.9%. Starting bottom up, tiers 3, 2 and 1 start @ 700 and go higher... hense 700+ FICO scores are eligible for the 1.9%.

 

[Wontonpierre]

Awesome. Thank you. Still a mystery why they expire 8/2 and yet don't arrive until 8/12-8/18

 

[Chuck]

Awesome. Thank you. Still a mystery why they expire 8/2 and yet don't arrive until 8/12-8/18

That's one of the main reason I don't trust their ETAs. Usually they don't release incentives on new models until just a few days before they start hitting the lots. I've actually seen cars hit the lot before programs were introduced. I'm still hoping for earlier arrivals.

 

[LittleBokey]

Awesome. Thank you. Still a mystery why they expire 8/2 and yet don't arrive until 8/12-8/18

Most welcome. Sales programs, like sales at retail stores, generally run for a fixed time. For auto finance, the programs run, as a general rule, for 1 month. So while it ends on 8/2, it is likely to be extended or updated starting 8/3. Normally the finance company reviews how the programs perform... then adjusts it to drive more sales for example. Some programs are designed to sell out an end of year model, some are designed to spark more interest in a brand or specific model. Even if the SC program ends, there are other programs that apply... Hyundai has been running 0% or 1.9% for a wide range of terms. During COVID, when sales were down, you could get 84 months with zero down and 0%. That is why end of month or end of the year is generally the best time to buy. To spark even more sales, cash rebates are thrown in on top of low rates. Hope that helps explain.

 

[Walking Black Bear]

Having spent years writing ads for car dealers in my past life (okay, so it was 22 years ending last December) ... the sheer number of times I had to do "OFFER EXTENDED!" material is disturbing. But it's literally so they can do a push at the end of every month that it's the "final days" to get this "incredible offer" that "may never been seen again!" Or, at least until Monday morning, whichever comes first. LOL Car dealership ads made me LITERALLY crazy with their BS. All they want to talk about is low, low payments "STARTING FROM $XXX per week, taxes and fees extra." I'm sure someone out there cares SLIGHTLY about strictly the payment on a new vehicle, but the advertised prices occur in the real world LITERALLY zero percent of the time. Only the finance rates may be generally accurate. They stack every incentive they can on the price of the basest of base models - even if it's not possible to qualify for all of them at the same time. But LEGALLY it's technically accurate. Of course, they exclude accessories, dealer installed options, extended warranties/service plans, or any of the extras they push on you at finance time.

You may have noticed that it's still a bone of contention for me. Especially when it's proven that most buyers shop on the vehicle they want and find ways to justify the price emotionally, after they've already decided they want it. Yep. Seven months out of the ad business ... STILL irritates the crap out of me. LOL At least the one big thing Hyundai is doing right with the SC marketing is pushing the lifestyle angle. They're trying to make it an emotional decision, and you can justify the cost after you've already sold yourself on the idea of ownership.

 

[Chuck]

the advertised prices occur in the real world LITERALLY zero percent of the time. Only the finance rates may be generally accurate. They stack every incentive they can on the price of the basest of base models - even if it's not possible to qualify for all of them at the same time. But LEGALLY it's technically accurate.

Not sure if that's a Canadian thing at this point or depends on the brand. Down here at least, online or in print advertising, many of the manufacturers require that you can only discount the selling price using rebates that everyone qualifies for, then below the selling price you can list additional possible incentives. This is particularly true with brands that offer co-op to offset some of the dealers advertising costs. Most also don't let you advertise below invoice or some brands on current product or some dealers can't even go below MSRP.

Things have gotten somewhat clearer down here in recent years... though the fine print remains.

 

[Wontonpierre]

Wow Chuck.. you are an insider.

Just saw the program today, 1.9% for first 3 tiers, up to 72 months. Those 3 tiers are 700+ FICO. For each tier after, figure an additional point. Leasing rates are ridiculously low as well. These are rates via Hyundai finance, other lenders I would think will be @ or below these rates.

And as Chuck pointed out, program runs through Aug 3rd, which means deliveries are expected very soon.

Thanks Chuck... you are the man!

Was this financing incentive posted anywhere public facing or just sent to dealerships?

 

[Chuck]

Was this financing incentive posted anywhere public facing or just sent to dealerships?

I haven't seen it out to the public yet.

 

[LittleBokey]

I haven't seen it out to the public yet.

Yes.. went to dealers, but dealer is legally bound to disclose to customers... fair lending act.

 

[Wontonpierre]

@LittleBokey have they refreshed the financing offers on SC yet?