Hyundai Finance – Support for COVID-19

For further details contact Hyundai Motor Finance at 1-800-205-0540 or email service@hyundaifinancing.ca

Lease: 30-day Payment Deferral

Program Date: March 21, 2020 – April 30, 2020

Support: 

  • Current Customers can defer Lease payments for a 30-day period without additional processing fees, when approved through HMF
  • Customer’s Credit Bureau is not impacted
  • Original Lease Term is extended by the deferral period
  • Original Residual Value, Maximum Allowable Kilometers, Periodic Payment and Interest Rate remains unchanged

Eligible Customers:

  • Strictly limited to active booked HMF Lease customers whose employment or health has been temporarily impacted by COVID-19
  • 1st auto-debit payment on account must be successfully collected, and request must be received at least 3 business days prior to next payment date to be processed
  • Customer must qualify through HMF

Lease: Due-Date Change

Program Date: March 21, 2020, continuing until further notice

Support:

  • Current Customers can move their periodic Lease payment due-date forward by up-to 20-days without additional processing fees or interest expense, providing customers additional time to make their scheduled periodic lease payment

Eligible Customers:

  • Active booked HMF Lease customers who require up-to 20 additional days to make their scheduled periodic payment
  • Account must be current (not delinquent)
  • 1st auto-debit payment on account must be successfully collected, and request must be received at least 6 calendar days prior to next payment date to be processed
  • Cannot be combined with “Lease: 30-day Payment Deferral”

Lease: Maturity Date Extension (Less Than 30-days)

Program Date: March 21, 2020, continuing until further notice

Support: 

  • Active HMF Lease customers who are scheduled to mature in the next 30-days, but cannot return their vehicle to their originating Hyundai Dealership due to COVID-19 concerns can extend their maturity date by up-to 30-days
  • Maturity Date, Residual Value, and Maximum Allowable Kilometers are adjusted
  • Periodic Payment amount and Interest Rate remains unchanged

Eligible Customers:

  • Account must be current (not delinquent), and demonstrate good repayment history with HMF
  • Customer must provide confirmation of valid vehicle insurance through the extension period
  • Customer must continue making payments during the extension period
  • Customer must qualify through HMF

Lease: Maturity Date Extension (30 to 90-days)

Program Date: March 21, 2020, continuing until further notice

Support:

  • Active HMF Lease customers who are scheduled to mature in the next 30-days, but delivery of their replacement Hyundai Lease vehicle is delayed/postponed due to production constraints can extend their maturity date by 30 to 90-days
  • Maturity Date, Residual Value, and Maximum Allowable Kilometers are adjusted
  • Periodic Payment amount and Interest Rate remains unchanged

Eligible Customers:

  • Customer must execute and return a Lease Extension Agreement prepared by HMF and emailed to the subject Customer
  • Account must be current (not delinquent), and demonstrate good repayment history with HMF
  • Customer must supply confirmation of Sold Order for replacement Hyundai vehicle
  • Customer must provide confirmation of valid vehicle insurance through the extension period
  • Customer must continue making payments during the extension period

Loan: 90-day Payment Deferral

Program Date: March 21, 2020 – April 30, 2020

Support:

  • Current Customers can defer Loan payments for up-to 90-days without additional processing fees, when approved through HMF
  • Customer’s Credit Bureau is not impacted
  • Original Loan Term is extended by the deferral period
  • Original Periodic Payment and Interest Rate remains unchanged
  • Customer will incur additional interest expense over the term of the Loan

Eligible Customers:

  • Strictly limited to active booked HMF Loan customers whose employment or health has been temporarily impacted by COVID-19
  • 1st auto-debit payment on account must be successfully collected, and request must be received at least 3 business days prior to next payment date to be processed
  • Customer must qualify through HMF

Loan: Due-Date Change

Program Date: March 21, 2020, continuing until further notice

Support:

  • Current Customers can move their periodic Loan payment due-date forward by up-to 20-days without additional processing fees, providing customers additional time to make their scheduled periodic loan payment.
  • Loan Maturity Date is extended, and additional interest charges are incurred.

Eligible Customers:

  • Active booked HMF Loan customers who require up-to 20 additional days to make their scheduled periodic payment
  • Account must be current (not delinquent)
  • 1st auto-debit payment on account must be successfully collected, and request must be received at least 6 calendar days prior to next payment date to be processed
  • Cannot be combined with “Loan: 90-day Payment Deferral
  • Customer must qualify through HMF