Friday, Jun. 27, 2014, 10:37 AM UPDATED 10:40 AMBy SubPrime Auto Finance News Staff
IRVINE, Calif. -
Hyundai Capital America declared this week that it’s now the first captive auto finance company to provide free FICO scores to customers as part of the FICO Score Open Access Program.
Hyundai Motor Finance and Kia Motors Finance will offer free FICO scores to new customers enrolling in the new 2014 College Grad Programs.
Officials indicated 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 online 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 and servicing for Hyundai Capital America.
“We’re proud to offer customers in our college grad programs free access to their FICO scores,” Devine continued. “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.”
Jim Wehmann, executive vice president of scores at FICO, cheered the move the captive made.
“For many college grads, a car is their first major purchase,” Wehmann said. “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.”