The partnership between Hyundai and savings site Motozuma could help credit challenged buyers reduce the interest expenses on an auto loan
One answer
Car buyers with less than perfect credit are always looking for ways to reduce the amount of interest they pay on subprime auto loans.
Here at Auto Credit Express, where weve been helping car buyers with credit problems for two decades, we have one answer that may work at least some of the time. Although not all buyers with low credit scores will qualify for a new car, for those who do there is an interesting and potentially money-saving program out there from Hyundai.
Choosing a new car
When it comes time to pick a car, applicants with poor credit and an auto loan approval typically think of used cars because they believe doing this will result in a lower monthly payment. When just considering the price, this may be true.
There are, however, other concerns such as cost of ownership, interest rates, a vehicle service contract or new car warranty as well as the loan term to consider in figuring the overall vehicle costs.
This is why a current program from Hyundai and Motozuma could be good news for many car buyers with credit problems. Thats because, in renewing its partnership with the free social savings website, the manufacturer is offering to match the funds on deposit if you buy one of their vehicles further lowering the vehicles cost and the interest youll pay on the loan.
According to the automaker, Hyundai will match dollar for dollar up to $500 for a customer that buys a new 2011, 2012 or 2013 Hyundai using their Motozuma account funds as a down payment. Hyundai matches the dollars and Motozuma acts as the facilitator of the down payment at the dealership.
Hyundai new car warranty
Not only will Hyundai match your first $500, their vehicles are some of the most affordable new cars available and come with one of the best new car warranties in the business – a 5-year, 60,000-mile transferable new car warranty and a 10-year, 100,000-mile power train warranty. Buyers also get 5 years of free roadside assistance.
All you have to do to take advantage of this program is to set up an account with Motozuma for at least 30 days and, once youve saved up enough, youll be ready. Just remember, not all buyers with low FICO scores will qualify for a new car.
Now its time to find a dealer that can help you.
Find a dealer
Auto Credit Express matches up applicants that have auto credit issues with dealers that can offer them their best chance at getting approved for auto loans.
So if youre ready to reestablish your car credit, you can start now by filling out our online car loans application.
Tags: Bad Credit, New Cars
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