Interest Free
An increasing number of foreign automakers in Korea are coming up with installment plans to increase their market shares by means of aggressive marketing campaigns such as interest-free installments, with more and more consumers looking to get imported cars.
Infiniti is one of those providing interest-free installments. According to industry sources, a 36-month zero-interest installment plan is applied to both the Q50 and the flagship sedan Q70. Similar 36-month plans are available for the Jeep Grand Cherokee 3.6 Overland and the Toyota Prius. Customers buying the Jeep Grand Cherokee 3.6 Overland by cash can have a discount corresponding to acquisition and registration taxes.
Those who are planning to purchase the Jetta 2.0 TDI BMT of Volkswagen can use a 60-month zero-interest installment plan. BMW provides 36-month interest-free installments for those who purchase the MINI Countryman with a down payment of 30 percent.
Peugeot introduced an interest rate of as low as 2.65 percent as well in order to win customers back from German carmakers. Hanbul Motors, the official dealer of the French automaker in Korea, recently announced that this month, the interest rate applies to the small sports utility vehicle Peugeot 2008 and the compact premium hatchback Peugeot 208.