Hyundai has revealed its own extension to the , with three exceptional discounts for potential customers of the i10, i20 and i30 ranges.
‘Trade & Upgrade’ for £2,000 discount
The government scrappage scheme is due to end on 28 February, but anyone with a seven- to 10-year-old car will be entitled to a £2,000 discount on any new Hyundai thanks to the Korean company’s new ‘Trade & Upgrade’ offer.
This is not limited to more expensive models either. An entry-level Hyundai i10 – just £7,760 before discount – could be yours for £5,760. Not bad for a car including five-year warranty and air conditioning as standard.
‘Happy Returns’ trade-in for as little as £499
In addition to Trade & Upgrade, Hyundai is also introducing ‘Happy Returns’. This will allow existing Hyundai scrappage customers to upgrade to a 10-plate Hyundai in March for as little as £499.
All i10, i20 and who took advantage of scrappage last year will be invited to swap their car for a newer model. This is available at any time up to the car’s first anniversary – so owners won’t need to pay for a tax disc or the first service. And the new car will of course include a new five-year warranty.
Customers pay £499 for a new i10, and £749 for an i30 – and aren’t limited to swapping into a new version of the car they already have. Trading up or down is possible.
Given the cost of servicing and tax, i10 customers would effectively be getting a new car for as little as £300. That’s the equivalent of just £25 a month in depreciation.
Has Hyundai gone mad?
We still don’t know what this initiative will do to the second values of these nearly-new models but Hyundai says the Happy Returns offer is only possible due to the strong residual values of its ‘i’ model cars, fed by strong demand for quality used stock in the Hyundai dealer network.
As for Trade and Upgrade, Hyundai UK Managing Director Tony Whitehorn explains:
‘We have learnt some valuable lessons from the 33,000 people who have bought cars from us under the scrappage scheme. They love transparent pricing. They hate haggling. And if they see a good deal they will snap it up. What we are offering post-scrappage will build on this experience and will change the way cars are bought in the UK forever.’
Which? isn’t too sure about that last part, but Hyundai certainly seems to be trying exceptionally hard to give good value at the moment.
‘Friends and Family’ discount, too
Existing Hyundai scrappage customers will also receive a £250 ‘Friends and Family’ voucher, which they can pass on to enable someone else to get a £250 saving on any new Hyundai.
‘Our scrappage customers have an expectation of what a Hyundai will be like, and they are amazed at the quality and technology they are getting. As a result they have become our best advocates. We want to reward them and allow thousands more drivers to own a new Hyundai.’
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