Hyundai significantly expands certified pre-owned car 'trade-in' offer

Hyundai has significantly expanded its trade-in offer for certified pre-owned vehicles. Trade-in is the practice of returning an old product to the manufacturer and buying a new one. This allows consumers to buy a new car at a lower price than the original retail price. Customers can receive a cash discount of up to KRW 2 million on the purchase of a new Hyundai or Genesis after selling their existing vehicle as a certified pre-owned vehicle.

Until last month, the discount was up to 500,000 won for new purchases of only three cars, including the Ioniq 5-6 and Kona Electric, but from this month, the company is offering 1 million to 2 million won off for a total of nine cars (five Hyundai models and four Genesis models).

Starting this month, three Genesis electric vehicles - the GV60, GV70 electric, and G80 electric - and the GV70 combustion engine are eligible for the new car cash discount on trade-ins. Customers who trade in their old car for a Hyundai or Genesis certified pre-owned vehicle and purchase one of these four models will receive a discount of KRW 2 million.

Hyundai has also expanded the number of vehicles eligible for cash discounts to five. The Santa Fe (excluding hybrids) and Palisade have been added to the existing three models (Ioniq 5-6 and Kona Electric). The discount amount is 1 million won.

We will also maintain the compensation scheme for consumers who sell their old vehicles. Depending on the condition of the car, up to 4% of the sale price will be paid as compensation. For internal combustion engines, cars of other brands (8 years old and less than 120,000 kilometres) can also be sold.

Consumers who wish to trade-in can do so by selling their old vehicle through the "Sell My Car" service on the Hyundai-Genesis Certified Pre-Owned Vehicle application (app) or website at least 15 days before the new vehicle is delivered. "By expanding the range of vehicles eligible for the trade-in offer and the discount amount, Hyundai will strive to provide a one-stop service for customers from selling their old vehicle to purchasing a new one," the company said.

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Photo Hyundai Motor Company