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Hyundai Finance Introduces Dealer-Focused Credit Application System

24 January 2000

Hyundai Motor Finance Company Introduces Dealer-Focused Credit Application System

     - New Web-Based System Designed to Make Car Buying Process Easier -

    FOUNTAIN VALLEY, Calif., Jan. 24 -- Hyundai Motor Finance
Company today announced plans to introduce a new Internet-based credit
application and finance management system designed to assist dealers and
customers alike in making the credit application process easier.  The company
announced its plans at the 2000 National Automobile Dealers Association
Convention in Orlando, Fla.  Hyundai expects to begin rolling out the program
in key pilot markets this spring, with complete dealer coverage anticipated by
year-end.
    The new dealer-focused system will automate and streamline key parts of
the car buying finance process including customer loan and lease credit
applications, processing and approval.
    The World Wide Web-based system has an open design.  Hyundai dealers will
have access to a related online finance forms library that will include e-
contract forms among others and will have the ability to easily submit
customer applications to multiple lenders simultaneously.  Through the new
system, dealers will have access to: up-to-the-minute application status
reports; online credit bureau reports; Hyundai e-mail; marketing bulletins
including rates, terms and programs; and, in the months to come, the ability
to cash contracts through the Internet and obtain current customer pay-off
quotes as well as online floor-planning information.
    "While some car manufacturers are beginning to question the value of their
dealer networks, Hyundai is committed to supporting its dealers by giving them
the technology and tools they need to remain competitive," said Bill Thaxton,
president and CEO of Hyundai Motor Finance Company.  "Our new credit
application system will make our dealers more productive, more efficient and
help them better serve their customers.  We want our dealers to know that
Hyundai will provide various new Internet services to support its dealers'
traditional sales needs."
    Hyundai Motor Finance Company and Hyundai Motor America, headquartered in
Fountain Valley, Calif., are subsidiaries of the Hyundai Motor Company of
Korea.  Hyundai Motor Finance Company provides consumer loans, leases and
wholesale dealer inventory financing.  Hyundai cars are distributed throughout
the United States by Hyundai Motor America and are sold and serviced through
nearly 500 dealerships nationwide.
    For illustrations of the Web pages, contact:  Ty van Hooydonk 714-427-
3123.