Hyundai finance options

What types of Hyundai finance options are there?

• Car loan. Lenders offering these car loans will register a security interest in the Hyundai you buy, and in exchange give you a competitive interest rate. This rate usually falls between 5-10% p.a. The loan amount you’re approved for is usually tied to the value of the Hyundai - but amounts of between $1,000 and $100,000 are available.
• Personal loan. This loan option can be secured or unsecured. An unsecured loan means that the lender does not take any security over the Hyundai you wish to buy and you can use the funds however you want. Unsecured rates are generally 8-16% p.a. while secured rates are generally 5-10% p.a.
• Car lease. This allows self-employed people to buy a Hyundai for business purposes. The lender purchases the car and you make lease payments until the end of the term of the lease.
• Commercial hire purchase. This is an option for businesses who hire a Hyundai from the financier for a fixed payment monthly over a term that is agreed to. You have the option to purchase the car at the end of your loan term.
• Novated lease. Novated leases give employees access to tax benefits by allowing them to salary package a Hyundai. You’re able to lease the car and your employer pays the lease repayments from your pre-tax income.
• Hyundai Finance. Hyundai also offers its own financing options which you can sign up for at a dealership. You have your choice of standard loan options such as consumer finance, finance lease and a commercial hire purchase. Also, there are innovative options such as a goods loans and a CarPlan. A goods loan is available to you if the Hyundai will be used 50% or more for business purposes, which allows you to claim tax deductions. The CarPlan is a lease with an option of purchase or trade-in at the end of the term.

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Finder Score	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Rewards	Monthly Repayment
Promoted Finder Score 9.5 Excellent IMB New Car Loan Fixed1 - 7 Years $2,000 - $125,000	Finder Score 9.5 Excellent	Interest Rate (p.a.) 5.99%	Comp. Rate (p.a.) 6.34%	Application Fee $274.78	Monthly Fee $0	Monthly Repayment $920.88	Borrow up to $125,000, pay no account-keeping fees and repay with fixed repayments while having the ability to repay early.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder Score 9.1 Excellent Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Finder Score 9.1 Excellent	Interest Rate (p.a.) 5.67% to 18%	Comp. Rate (p.a.) 6.1% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $920.14	Your own personal car loan broker can help you borrow up to $300,000 for your new car by choosing from a range of finance options.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder Score 9.3 Excellent OurMoneyMarket New Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.3 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $911.98	No monthly or early exit fees. Loan amounts range from $5,000 to $100,000. Eligibility: Applicants with an Equifax credit score of 500 or above and an annual income of more than $25k are eligible.	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.5 Great RACV New Car Loans Fixed1 - 7 Years $5,000 - $100,000	Finder Score 8.5 Great	Interest Rate (p.a.) 6.59% to 17.69%	Comp. Rate (p.a.) 7.29% to 18.47%	Application Fee $499	Monthly Fee $0	Monthly Repayment $936.01	Go to siteMore info Compare product selection Compare	loading
Finder Score 9.3 Excellent OurMoneyMarket Used Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.3 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $911.98	No monthly or early exit fees. Loan amounts range from $5,000 to $100,000. No vehicle age limit. Eligibility: Applicants with an Equifax credit score of 500 or above and an annual income of more than $25k are eligible.	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.9 Great Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Finder Score 8.9 Great	Interest Rate (p.a.) 6.59% to 18%	Comp. Rate (p.a.) 7.91% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $932.82	Your own personal car loan broker can help you borrow up to $300,000 for your new car by choosing from a range of finance options.	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.1 Great loans.com.au - New/Demo - Variable Rate Variable3 - 7 Years $5,000 - $150,000	Finder Score 8.1 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $932.69	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.2 Great RACV Used Car Loans Fixed1 - 7 Years $5,000 - $100,000	Finder Score 8.2 Great	Interest Rate (p.a.) 7.89% to 17.69%	Comp. Rate (p.a.) 8.6% to 18.47%	Application Fee $499	Monthly Fee $0	Monthly Repayment $954.18	Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.	Go to siteMore info Compare product selection Compare	loading
Finder Score 9.3 Excellent OurMoneyMarket Secured Personal Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.3 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $911.98	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car < 3 years Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $940.28	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car Loan (8+ years) Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $940.28	Go to siteMore info Compare product selection Compare	loading
Finder Score 8 Great loans.com.au - Variable Rate Used Car < 3 years Variable3 - 7 Years $5,000 - $150,000	Finder Score 8 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $932.69	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car < 5 years Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $940.28	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car Loan (6 to 7 years) Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $940.28	Go to siteMore info Compare product selection Compare	loading
Finder Score 8.1 Great loans.com.au - Variable Rate Used Car < 5 years Variable3 - 7 Years $5,000 - $150,000	Finder Score 8.1 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $932.69	Go to siteMore info Compare product selection Compare	loading
Finder Score 7.6 Great loans.com.au - Car Loan Refinance (Fixed) Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.6 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $940.28	More info Compare product selection Compare	loading

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Things to remember when financing a Hyundai...

It’s important to remember that, although it’s possible to get finance, it’s a purchase that isn’t regarded as “good debt” as the asset that you’ve purchased depreciates in value as soon as you’ve driven it off the lot.

It can also be tempting to just opt for Hyundai dealer finance as you can have the transaction done in one go. However, it would benefit you to do your research and ensure that whatever financing you choose is ideal for your financial circumstances.

Hyundai finance options: What to consider

There are several things to look at in your finance before you jump into a Hyundai and drive off into the sunset, such as:

• Can you afford the repayments? Knowing if you can afford the repayments, whether they are monthly, fortnightly or weekly, is very important from the outset. You don’t want to drive yourself into debt.
• Do you want to own the Hyundai? There are lease and loan options available and both types offer benefits and drawbacks. However, leases may not allow you to own the vehicle upfront. Consider whether you want this asset under your name.
• Is the Hyundai for personal or business use? You can access tax benefits and flexible finance options if your vehicle will be for business use, so remember this when considering your options.
• How’s your credit? There are lenders available that will consider borrowers with poor credit, but remember this will limit your finance options and affect your interest rate.

Hyundai finance options: Questions to ask yourself before you commit

Before you finance your dream car, there are some things to consider, which include:

• What’s my budget? It’s important to know how much you can spend before picking your ideal car. Hyundai has a range of vehicles starting from $26,217 for the Hyundai Venue that will help you squeeze into those small car spaces or the pricier, but all new Santa Fe that comes in at a cool $60,644. Using a car loans calculator will help you figure out how much you can afford to pay off each week, fortnight or month.
• What kind of car do I want? Hyundai has a selection of vehicles available to suit a variety of needs. If you’re after more commercialised vehicles, such as the iLoad, Hyundai can help you out. If you want a people mover to help transport your growing family around, Hyundai offers the Santa Fe and the Tuscan. Doing your research on what kind of cars are available can help you make a firm decision.
• What kind of features do I want? Genuine Hyundai accessories come with each Hyundai vehicle that you purchase. These vary depending on the car but can start from front park assist, a multimedia and navigation system, sunroof, Apple Play, leather interior and many more. Do your research on what kind of features are on offer so you don’t get overwhelmed. Make sure the car you want has them before buying.

Hyundai finance costs

Some costs for you to consider before applying for a loan for your new car are:

• Loan fees. Before applying for a loan, you should check if there are any upfront fees such as an application fee, and whether there are any ongoing fees that you’re expected to pay, such as monthly fees or transaction fees. Another fee to keep an eye on is a fee if you make an extra repayment. The fees will vary from lender to lender.
• Upkeep of the car. Paying for fuel, servicing, new tyres and running your car can be expensive. There is also car washing to consider. You’ll want everyone to see how nice and clean your new car is!
• Registration and insurance. Now that you’re on the road, you must pay to be on the road. This is the cost of registration. You’ll also want to consider insurance, as other cars might hit your new car or you might hit them.

Saving enough to buy the car of your dreams might not be enough if you are unable to keep your dream car roadworthy and running in the way that you like it. These additional costs can add up and are something to keep in mind before purchasing your vehicle.

What you will need to apply for a loan

You’ll need the following to apply for a car loan:

• Financial statements. These can include payslips and bank statements for the past three months, or your last tax return statement.
• Identification. This can be shown through your Australian Driver’s Licence (if you have one), your Medicare card, your birth certificate or your passport.
• A stable income. Most lenders won’t let you borrow money off them if you can’t show that you have a stable income.
• Assets and debts. You’ll need to know your current assets and liabilities situation which also needs to be shown through documentation.

Now you know what you need to do to purchase a new Hyundai. Keep in mind your financing options and additional costs before choosing your favourite car – ours is the Hyundai i30. Enjoy the drive!

About Hyundai

Hyundai is a popular brand that has become the car of choice for many Australians. This manufacturer has a wide range of vehicle types available, which is a huge part of the appeal. This includes the Hyundai i30, a sought-after hatchback, and the iLoad van - ideal for businesses who need help hauling stock.

Frequently asked questions

• Can I get Hyundai Finance if I have bad credit?

  It may be possible to get approved with bad credit, but it can be harder. Hyundai Finance will look at your credit score, income, expenses and employment history before deciding. You might be offered a smaller loan amount or a higher interest rate. Comparing lenders that offer bad credit car loans could help you find better terms.

• Does Hyundai Finance offer pre-approval?

  Yes. You can apply for pre-approval before purchasing your vehicle. Pre-approval gives you an indication of how much you can borrow, helping you shop for a Hyundai within your budget. It's usually valid for a limited time and still subject to final approval once you choose your car.

• Can I pay off my Hyundai Finance loan early?

  Most Hyundai Finance loans allow early repayment. However, depending on your contract, you might be charged an early termination or break fee. Check your loan agreement or contact Hyundai Finance to understand any costs before paying off your loan early.

• Is Hyundai Finance only available for new cars?

  Hyundai Finance can also be used for approved demo and used Hyundai vehicles purchased through authorised Hyundai dealers. Eligibility and rates may vary depending on the car's age and condition.

• Does Hyundai Finance offer balloon payments?

  Hyundai Finance offers loan options with balloon payments, also known as residual payments. This can reduce your regular repayments, but you'll need to pay the balloon amount at the end of the loan term or refinance it. Make sure you can budget for this larger final payment.

• Can businesses apply for Hyundai Finance?

  Yes, Hyundai Finance provides options for business customers, including finance leases and commercial hire purchase. These products are tailored for business use and may offer tax benefits. You'll need to supply relevant business financial information as part of your application.

• Can I trade in my old car with Hyundai Finance?

  If you're buying a Hyundai through a participating dealer, you can usually trade in your old car as part of the deal. The trade-in value can be used towards your deposit, reducing how much you need to borrow.

• What documents do I need to apply for Hyundai Finance?

  You'll generally need proof of ID, income (such as recent payslips), bank statements and details about any current debts. Additional documents may be required depending on your employment or financial situation.

• Does Hyundai Finance affect my credit score?

  Yes. Applying for Hyundai Finance involves a credit check, which can temporarily impact your credit score. Making repayments on time can help improve your credit history over time, while missed payments can harm it.

Written by

Courtney Allan

Graduate publisher

Courtney Allan was a writer at Finder covering personal finance. She has written for a number well-known publications and companies including the NRMA. See full bio