Hyundai and Kia to Offer Free FICO Scores to Customers
IRVINE, CA -- June 26, 2014: Hyundai Capital America ("HCA"), a top-10 U.S. captive auto finance company, which does business as "Hyundai Motor Finance" and "Kia Motors Finance", today announced it has partnered with FICO , a leading predictive analytics and decision management software company, to be the first captive auto finance company to provide free FICO® Scores to customers as part of the FICO® Score Open Access program.
Starting today, HCA will offer free FICO® Scores to new customers enrolling in the new 2014 "College Grad" Programs offered by Hyundai Motor Finance ("HMF") and Kia Motors Finance ("KMF"). Customers participating in these programs will start receiving their FICO® Scores from HMF and KMF on a quarterly basis, beginning this fall.
In addition to receiving their FICO® Scores, HMF and KMF customers also will be given on-line access through the respective websites to tools to help them understand and track their FICO® Scores. These tools will include the top two factors currently affecting the customers' individual FICO® Scores, as well as provide educational content to help customers understand their credit score.
"We're continuously looking for ways to deliver added benefits to our customers," said Tim Devine, senior vice president of sales, marketing, insurance & servicing for Hyundai Capital America. "We're proud to offer customers in our college grad programs free access to their FICO Scores. It's a meaningful way for us to help make buying or leasing a car as transparent and customer-friendly as possible. It's a fantastic way for us to demonstrate how we value their business and want to continue serving their needs for years to come."
"For many college grads, a car is their first major purchase," said Jim Wehmann, executive vice president of Scores at FICO. "We applaud Hyundai Capital America for helping college grads understand how to build a strong foundation for their financial house by giving them free FICO Scores as well as information that will help them better understand and manage their financial health."
About Hyundai Capital America's college grad program Hyundai Capital America, through its Hyundai Motor Finance and Kia Motors Finance brands, offers special incentives to help recent graduates purchase or lease a new vehicle. To qualify, candidates need to be within 6 months of graduating or have graduated within the past 24 months from an accredited 2 or 4 year college or university, nursing school, or master's or doctorate program. Benefits may include 90 days before the first payment is due and a $400 rebate on top of any manufacturer's rebates. Full details are available on HMFUSA.com and KMFUSA.com.