Hyundai Motor Finance and Kia Motors Finance to Offer Free FICO Scores to Customers
IRVINE, Calif., June 26, 2014 /PRNewswire/ -- 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 (NYSE: 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.
About Hyundai Capital America
Headquartered in Irvine, CA, Hyundai Capital America is a top-10 U.S. auto finance company supporting the financial services needs of Hyundai Motor America and Kia Motors America. Through its brands, Hyundai Motor Finance and Kia Motors Finance, the company provides financial products to Hyundai and Kia dealerships nationwide, including dealer inventory and facility financing, as well as indirect vehicle financing for retail and lease customers. Through its subsidiary, Hyundai Protection Plan, the company offers vehicle service contracts and other vehicle protection products under the Hyundai Protection Plan and Power Protect brands. As of 2014, the company serves over 1.3 million customers and over 1,500 dealers nationwide, and has over $20 billion in assets. In addition to its headquarters, Hyundai Capital America has three operations centers in the US—in Atlanta, Dallas, and Irvine.
FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 90+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com.
FICO and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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