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While shopping for the new SFS we planned to use Hyundai financing at 3.49%, but at the day we we picking up the car the finance manager offered us 1.69% with Capital One. I was told that my wife will not be able to use the $400 graduate rebate because the car has to be financed with Hyundai Motor Finance.
Did any of you come across such a requirement? I did not find it on the web.

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The 3.49 is through Hyundai, as is the graduate program - so it only makes sense you get one with the other...

If you plan on taking a few years to pay your SFS off, then the savings in the interest is well worth more then $400 - if you're going to pay it off within a year or so, then take the $400 rebate. That's a significant difference in a rate... I'm shocked it's at 3.49%... I got mine at 1.49% (but i'm in Canada).

Found this site, doesn't say it's tied to HMF or not, but it mentions a few times about "other offers with HMF" etc... by reading this page, I would ASSUME that you need one to get the other.

http://www.hyundaicanada.com/financial-tools/college-grad-program.aspx
 

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Sorry, Photecs is correct. The $400 is now tied to HMF financing at their 'special' 3.49% APR rate for the Santa Fe and Santa Fe Sport. One must be using the recent graduate financing option to get the $400 rebate. If you finance through alternate bank for a lower rate, the $400 does not apply.
 

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Almost all factory financing features no prepayment penalty. Therefore, finance with factory to take advantage of incentives. Then, refinance with low-cost lender, paying off the factory financing. Note that any money paid by the factory financing to the DEALER may be taken back if the loan is paid off before 3 months or so. Thus, this type of loan swapping can sometimes irritate your dealer.
 

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I did this on an Elantra we purchased. As soon as the loan is booked, it can be refinanced.

This can be irritating to a cash buyer but it is the only way to get the rebate. Just pay it off after confirming it is booked. If there was a prepayment penalty that would be a different kettle of fish. Read the fine print.
 

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I financed the Santa Fe I bought in September with Hyundai Motor Finance @ 3.49% to qualify for incentives and refinanced it online about three weeks later with Alliant Credit Union @ 1.49% (plus a $100 bonus deposit). I had to do a little legwork, but it was well worth it.
 

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Look for a credit unuion to refi it. I know if you pay $25 one time to join the National Military Family Association you can get into penfed and get 1.99%.
 

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When I bought my SFS in August, I had my financing pre-arranged with my credit union for 1.99%. Hyundai couldn't match that, so they couldn't give me a $500 incentive for financing through Hyundai. Makes sense. But in the long run, I end up saving more going through my credit union. Now, had the incentive been something larger... I'd have to do the math, but it might make sense.
 
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