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Three ways green car loans could save you money
Buying an eco-friendly, or ‘green’, car is not only an environmentally responsible decision, it could also potentially be a financially responsible decision in more ways than just day-to-day running costs.
The Hyundai Motor Company is a South Korean based car manufacturer, and is the fifth largest automotive corporation in the world. Its subsidiaries include Kia Motors (32.8 per cent ownership) and Genesis Motors (100 per cent ownership). Founded in 1967, Hyundai Motor Company produces almost four million cars and commercial vehicles a year. Hyundai touched down in Australia in 1986, and in 2003, Hyundai Motor Company Australia (HMCA) was established as a wholly owned subsidiary of the Korean parent company.
About Hyundai cars
Hyundai offers a wide range of vehicles, including SUVs, hatchbacks, sedans, sports and commercial vehicles, designed to suit most Australian lifestyles.
Popular models include:
- Accent ($15,990), choice of a hatch or sedan with a 1.6 GDi engine
- i30 ($25,990) a city make with a choice of automatic or manual
- i30 N ($44,065) a sports make with a 2.0-litre four cylinder engine
- Kona ($25,990) an SUV that comes in a range of vibrant colours
- Elantra ($20,990) a sedan made from advanced high strength steel
- iMax ($44,990) a people mover made to fit the whole family
- Santa Fe ($47,323) an SUV that seats up to seven people
- Sonata ($34,953) mid-size vehicle with two choices of powerful engines – a 138 kW 2.4L petrol engine or a 180 kW 2.0L turbo petrol engine
Hyundai are the third largest car manufacturer in Australia, and have consistently been one of the best-selling makes in the last decade. Hyundai does not offer a four- or two-door utility, but their vehicles are made for most Australian lifestyles; from the city-sized Accent, through to seven-seater SUVs like the Santa Fe. Hyundai compete in the budget, family, sports and even the environmental market with its wide range of options.
Hyundai cars would suit the budget of almost all Aussies, with prices ranging from budget, through to affordable and mid-range. Their most expensive non-commercial option is currently the Santa Fe TM Highlander 2.2 Diesel 4WD Automatic model with metallic paint at $66,426, which is still a competitive mid-range vehicle.
Environmentally conscious drivers will be pleased to know Hyundai is the only manufacturer to offer a full line-up of green technology vehicles, and they’re working towards producing even more eco-friendly models.
How can I get a Hyundai car loan?
When looking for the best Hyundai secured or unsecured car loan for your new or used Hyundai vehicle, it’s important to keep in mind your specific financial needs and budget.
To find a competitive Hyundai car loan, you have a few options. Your local Hyundai dealer will have an in-house finance offering to help you organise a car loans. However, keep an eye out for higher than average interest rates and fees that typically come with this option.
Otherwise you can consider:
- Financial comparison websites – a good starting off point in your vehicle finance journey as you can filter through low rate car loan options, as well as explore features or fees
- Car finance broker – brokers can take the work out of finding secured or unsecured new or used Hyundai car loans
- Direct-to-lender – applying directly with one car loan lender, such as a bank or credit union
How much does a Hyundai car loan cost?
Here are the approximate running costs for three different Hyundai models, based on RACQ category averages:
|Model||Category||Cents/km||Average $ per week|
|Santa Fe||SUV Large||80.7c||$232.64|
Here’s how much a five-year loan will cost for three different Hyundai models if you borrow 100 per cent of the purchase price over five years:
|Model||Price/loan||Total repayments at 6%||Total repayments at 8%||Total repayments at 10%|