You Can Now Lease Hyundai Cars in India, But How Does it Work?

Hyundai Motor India Ltd (HMIL) on Thursday announced its entry into the car leasing business in India. The company signed a deal with ALD Automotive India, a globally renowned automotive leasing and fleet management company, to offer flexible car leasing solutions. The entire Hyundai India product line-up, including Santro, Grand i10, Elite i20, Verna and Creta, is available at a monthly lease rental.

Leasing a car saves you the hassles of ownership, car maintenance, repairs, breakdown assistance, and insurance. So if you are interested, read on to know a few interesting things about Hyundai’s new car leasing service.

What is the eligibility criteria for leasing a car?

Hyundai says salaried employee, self-employed professionals and small and medium enterprises (SMEs) can avail the leasing service.

In which cities can you lease the car?

Hyundai Leasing is currently available across Delhi NCR, Mumbai, Chennai, Hyderabad and Bengaluru in the first phase.

What is the minimum tenure of leasing the car?

The leased vehicle will be available for a minimum period of two years going up to five years, depending on the city and model selected, said Hyundai.

How is the lease rental calculated?

Hyundai says the customer doesn’t have to pay the entire value of the car, but just the usage value of it. Hence, the final lease rental depends on the mileage and duration of the leasing contract and the additional services you opt for.

What are the lease rentals?

Mentioned below are the monthly lease rentals of base variants of the car models chosen for tenure of five years in Delhi. These rentals are inclusive of GST, but insurance and other maintenance service cost are extra.

Santro 1.1 Era (P) - Rs 7,673

Grand i10 1.2 Era (P) - Rs 8,936

Elite i20 1.2 Era (P) - Rs 9,813

Verna 1.4 E(P) - Rs 15,488

Creta 1.4 Diesel E+ - Rs 17,642

Can you choose a particular variant of the car you want to lease?

Hyundai says the customer can choose from any vehicle, variant and colour, as long as it is in line with your eligibility criteria.

What is the process of returning the car at the end of the contract?

When a lease contract expires, the company says that the leased vehicle must be returned to Hyundai Leasing usually at the location where the vehicle was originally collected at the inception of the contract. Hyundai Leasing will inspect the vehicle to ensure that it is returned with all documentation and standard accessories like duplicate key, owner’s manual, warranty book, original RC card and ensure that the vehicle is in a ‘standard condition’ which is defined as a vehicle that has been subjected to normal wear and tear considering it is age and mileage.