Hyundai Eyes U.S. Market for New 'Click to Buy' Platform | Auto Finance News | Auto Finance News

Hyundai Eyes U.S. Market for New ‘Click to Buy’ Platform

Online PurchaseHyundai Motor Co. is launching a direct-to-consumer car buying and financing portal called “Click to Buy” in the U.K., and is hoping the idea will catch on in the U.S., Tony Whitehorn, president and chief executive of Hyundai U.K., told AFN.

“Can it be taken to other countries? Yes, it can, absolutely. The principle is global,” Whitehorn said.

Consumers from across the pond will be able to shop online, trade in their vehicle for a down payment, finance their payment exclusively through Hyundai Capital, and have the vehicle delivered to their driveway. The portal partners with dealers for vehicle servicing and — unless the transaction is done in cash — consumers will have to go to a physical Hyundai dealership to sign the paperwork.

“In the U.K., there are certain rules and regulations at the moment related to distant selling,” Whitehorn said. “We are hoping that by next year you can transact entirely online and have the car delivered to your house even if you go through finance.”

The program doesn’t currently offer leasing as it’s defined in the U.K., which acts more like a rental service, Whitehorn explained. But conventional finance in the U.K. acts more like an American lease, and thus is very portable to the U.S., he added.

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