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Genesis buyers who finance through the brand’s new captive arm will receive “white glove” treatment befitting a luxury brand, the captive’s parent says.
Hyundai Capital America, which launched Genesis Finance in August, hopes the special treatment will set the Genesis brand apart from its luxury competitors and increase retention.
Genesis owners financing with the captive will have access to “universal agents” who can answer questions and help customers work through problems ranging from billing to titling issues and beyond, Tim Devine, senior vice president of Hyundai Capital America’s dealer services division, told Automotive News last week.
That means one person will be able to assist customers with any questions. They won’t be bounced around from person to person, Devine said. The call centers are in Atlanta, Dallas and Irvine, Calif. As of last week, Genesis Finance had financed more than 300 customers, he said.
Genesis customers “are used to that luxury-brand experience,” Devine said. “We think by minimizing handoffs and giving white-glove treatment, it will help retain them in our brand.”
Genesis Finance joins Hyundai Motor Finance and Kia Motors Finance as the third captive under the Hyundai Capital America umbrella. Dealers are “very, very happy,” Devine said. “They love the idea of having a separate group launching the luxury experience.”
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Fabian: “Leasing also opens us up to a whole new world.”
Loan, lease options
Genesis Finance customers will have loan and lease options, along with F&I product offerings. The Genesis Protection Plan lineup includes prepaid maintenance, a service contract and a care product — commonly favored by lease customers — that matches the term of a loan or lease.
Kate Fabian, Genesis’ marketing manager, told Automotive News she expects Genesis customers to skew on the younger side, especially with the industrywide rise in leasing.
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“They’re still late 30s. I’m not going to fool myself that a 25-year-old is going to buy a G80,” she said. “But remember: Leasing also opens us up to a whole new world. We’re going after around a 75 percent lease rate. So, obviously, that’s very important to us, getting our lease price right and bringing that to the market.”
‘Just the beginning’
Genesis Finance brings a “rare opportunity to reinvent what we do in order to create a new, premium customer experience for both dealers and consumers,” Devine said in a Sept. 8 statement announcing the captive.
“This launch is just the beginning of many great things to come” as the Genesis model lineup expands beyond luxury sedans, he added.
Genesis sold 1,497 vehicles in August, according to the Automotive News Data Center. It will introduce six models by 2020, including the G90 sedan and G80 midsize luxury sedan that launched in the U.S. this summer. Genesis will roll out the smaller G70 sedan next year.
Genesis Finance tailors a 'white glove' experience for luxury customers
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