The bank will offer consumers discounted financing for one to five years towards the purchase of Beijing-Hyundai vehicles. The application and approval process will only take two days to complete, and will not require a co-signer. The bank will only demand a 20 percent down payment and annual interest of 6.66 percent (for a three-year loan), comparatively less than other banks and auto financing companies.
The service will initially be introduced in
Beijing-Hyundai recently celebrated the sale of its 600,000th vehicle since its establishment in late 2002.