Is financing thru Hyundai required for competitive incentive?

[jime]

I am in the process of purchasing a Genesis and had found a loan rate better than that offered by Hyundi. I had already applied, but had to cancel the application as I was told by my Hyundai sales representative that the competitive incentive was only available if you financed through Hyundai.

Has anyone had a different experience?

 

[Mark_888]

I am in the process of purchasing a Genesis and had found a loan rate better than that offered by Hyundi. I had already applied, but had to cancel the application as I was told by my Hyundai sales representative that the competitive incentive was only available if you financed through Hyundai.

Has anyone had a different experience?

Based on previous competitive incentives I have heard about, that doesn't sound right to me, but check the Hyundai website for details on the incentives (which may be different for each regional distribution group in the US).

 

[Mark_888]

Maybe the salesperson was lying, since they get a commision on auto-loan orginations. Try asking another Hyundai dealer in your area.

Competitive Coupon

If you are currently a registered owner of a qualifying competitive vehicle, you can receive an additional $1,500 off a new 2012 Hyundai Genesis Sedan. See your local dealer for program details and list of qualifying competitive vehicles. Offer cannot be combined with Valued Owner Coupon.​

 

[EXBMWGUY]

Maybe the salesperson was lying, since they get a commision on auto-loan orginations. Try asking another Hyundai dealer in your area.

Competitive Coupon

If you are currently a registered owner of a qualifying competitive vehicle, you can receive an additional $1,500 off a new 2012 Hyundai Genesis Sedan. See your local dealer for program details and list of qualifying competitive vehicles. Offer cannot be combined with Valued Owner Coupon.​

I agree with Mark. Consider contacting the general manager. I bet he'll figure out a way to try to have you as a customer, and maybe upgrade his sales staff!

 

[G Hack]

What are you getting from other non Hyundai Finance rates compared to total dealer incentives? Pd. $37500 going to online new sale Gennys with dealer incentives..deal done out of state since local dealer wanted no less than $42100

 

[dsiles]

It is absolutely NOT required for the competitive incentive. The only thing that is tied to using Hyundai finance is the Hyundai Assurance guaranteed buy back pricing.

I actually went through another financing option as well so I could get 0.7% APR.

 

[Mark_888]

What are you getting from other non Hyundai Finance rates compared to total dealer incentives? Pd. $37500 going to online new sale Gennys with dealer incentives..deal done out of state since local dealer wanted no less than $42100

The $1500 competitive incentive is not offered by dealer, it is offered by Hyundai Motor America (or at least one of the regional offices of HMA).

 

[Ruissimo]

Correct, and Hyundai Motor America has the absolute LAST SAY when it comes to those types of things.

Of course... the dealer can simply say that the selling price is $1,500 higher than what he told you before, and say he's giving you the $1,500.

Regardless, I'd find another dealer. This guy is out to scam you here... and he'll probably try it elsewhere (interest rates, undercoating, fabric protection, dealer-insalled options, extended warranties, etc etc). Not worth it.

 

[jime]

Re: Is financing thru Hyundai required - End Result

Thanks to everyone who responded.
I went to pick the car today and challenged the financing requirement of financing through Hyundai, using the responses on this thread as proof. Everyone acted like they didn’t know a thing about it even though I had email that specifically stated that financing through Hyundai was required for the incentive.
Bottom line is that I am going to finance though my lender and save about $1K in interest.
I figured out that the sales department wanted to include this sale in the March sales. It was the last day of the month and the sale was not going to go through unless I financed through Hyundai, even though I said I didn’t care if it took a couple weeks to find the car I wanted. However the sale did not go through because my wife was unavailable to sign the papers.
Today everyone was great and very professional, and the sale went very smooth although it was on the slow side.
What a great forum! You guys have already save me a grand.