Hyundai Motor’s Certified Used Car Center in Yangsan, South Gyeongsang Province. (Image courtesy of Hyundai Motor/Kia)
SEOUL, Apr. 10 (Korea Bizwire) – The Hyundai Motor Company announced on April 9 a significant expansion of its trade-in program, offering substantial cash discounts to consumers who trade in their existing vehicles for certified used cars and purchase new Hyundai or Genesis models.
The trade-in program allows customers to return their current vehicle to the manufacturer as a used car and acquire a new model at a discounted price compared to the sticker price.
Under Hyundai’s revamped program, buyers can receive cash discounts of up to 2 million won when trading in their current vehicle for a certified used car and purchasing a new Hyundai or Genesis vehicle.
In March, the maximum discount was limited to 500,000 won and applied to only three models: the Ioniq 5, Ioniq 6, and Kona Electric.
However, starting this month, the discount has been increased to a range of 1 million to 2 million won and extended to a total of nine models – five from Hyundai and four from the Genesis luxury brand.
Notably, the Genesis lineup of electric vehicles – the GV60, the electrified GV70, and the electrified G80 – have been added to the trade-in discount program this month.
The mid-size GV70 sport utility vehicle (SUV) has also been included in the eligible models. Customers trading in their existing vehicle for a certified used car from Hyundai or Genesis and purchasing one of these four models will receive a 2 million won discount on the new vehicle.
Hyundai has expanded the number of eligible models to five, adding the all-new Santa Fe (excluding hybrid variants) and the Palisade to the existing Ioniq 5, Ioniq 6, and Kona Electric.
Customers trading in their current vehicle for a certified used car from Hyundai or Genesis and purchasing one of these five models will receive a 1 million won discount.
The automaker will also maintain its compensation program for customers trading in their vehicles, offering a bonus of up to 4% of the trade-in value based on the condition of the traded-in vehicle.
For internal combustion engine vehicles, customers can trade in vehicles from other brands as well, provided they were manufactured within the last eight years and have been driven for less than 120,000 kilometers.
Consumers interested in the trade-in program can list their current vehicle for sale through the “Sell My Car” service on the Hyundai or Genesis certified used car application or website up to 15 days before taking delivery of their new vehicle.
“By expanding the eligible models and increasing the discount amounts for our trade-in program, we are striving to provide a one-stop service for consumers, from trading in their existing vehicle to purchasing a new one,” a Hyundai spokesperson stated.
Kevin Lee (kevinlee@koreabizwire.com)
