Hyundai and Genesis are expanding their customer benefits with trustworthy certified pre-owned cars. Let’s take a closer look at Hyundai/Genesis Certified, a program that leads the way in honest and transparent used car transactions.
- Rigorous used car quality certification process, backed by automotive expertise
- The birth of convenient used car transactions - Hyundai/Genesis Certified online platform
- Sell My Car: Easy and trustworthy used car selling
- Innovative used car purchase experience through a one-stop online platform
- Hi-LAB: Eradicating information asymmetry with the comprehensive used car information portal
Many consumers find purchasing a used car a challenging task. The limited ways to objectively assess the varying conditions of used cars present a significant hurdle. It’s not just about factors like mileage, model year, specifications, accident history, and mechanical condition; it’s also the complex process of selling a used car that creates difficulties for consumers. Determining the precise value of your vehicle when selling it can be particularly challenging. While consumers can easily check the market value of used cars on websites, the trade-in value, or the value you get when selling your used car, is something only professional used car dealers can accurately assess.
This information asymmetry, as experienced by consumers during used car transactions, acts as an obstacle to building trust between the parties involved. However, the landscape changes when we talk about certified pre-owned cars offered directly by car manufacturers. These certified pre-owned cars are changing the game, addressing unreasonable practices in the used car market and introducing a consumer-centric approach to the transaction process.
Hyundai/Genesis Certified, introduced by Hyundai Motor Company and Genesis, is the first certified used car program by a domestic automaker, leading the way in creating a convenient and transparent used car culture. What sets Hyundai/Genesis Certified apart from traditional used car transactions, and what value does it bring to consumers?
Rigorous used car quality certification process, backed by automotive expertise
The distinctive value of Hyundai/Genesis Certified lies in achieving the highest domestic standards of used car quality, based on the technical know-how and expertise accumulated by the automotive manufacturer. A productization process supports this, consisting of seven stages: incoming inspection - precise diagnosis (vehicle selection) - quality improvement (bodywork, paint, etc.) - final inspection - quality certification - delivery inspection - car wash. After the intake inspection, the precision diagnosis of used cars covers over 270 items, including not only exterior and interior aspects but also performance, engine room, tires, and more. They use smart diagnostic equipment to ensure accuracy in diagnosis.
Functional maintenance, bodywork, painting, and other work are carried out in line with the results of the precision diagnosis. Parts used during this process consist exclusively of Hyundai Motor-certified parts, identical to those used in new vehicles. Once precision diagnosis is completed, used cars undergo quality improvement. During this stage, items such as engine oil, various filters, wiper blades, and washer fluid are all replaced. In addition, parts like batteries, brake pads, condensers, bulbs and lamps, wheels, tires, and brake fluid are replaced based on vehicle inspection results.
After the quality improvement process, certified used cars are awarded the official Hyundai Certified or GENESIS CERTIFIED marks, guaranteeing their quality. A detailed inspection report is also issued to provide consumers with information about the car’s condition, accessible through the Hyundai/Genesis Certified online platform (dedicated website and mobile application). Following polishing, engine room cleaning, interior cleaning, and more, a used car performance record book is issued, finalizing the vehicle’s preparation for customer delivery.
The birth of convenient used car transactions - Hyundai/Genesis Certified online platform
Hyundai/Genesis Certified, reborn as high-quality used cars through this rigorous process, meets customers through an exclusive website and mobile application (both Hyundai and Genesis brand-specific). The Hyundai/Genesis Certified dedicated website and mobile application enable consumers to search for and compare products, obtain quotes, complete contracts, make payments, and even have certified used cars delivered to their preferred location, all through a one-stop shopping experience.
Hyundai/Genesis Certified brings innovation to the world of certified used cars, offering an array of features through its dedicated website and mobile application. From selling your current vehicle with “Sell My Car” to purchasing reliable, accident-free certified used cars within 5 years or 100,000 km with “Buy My Car,” this platform covers all aspects of the used car journey. Furthermore, it provides useful used car information through the Hi-LAB (Hyundai Intelligence LAB) portal, featuring statistics, legitimate listings, trade tips, and more.
Sell My Car: Easy and trustworthy used car selling
“Sell My Car” service provides a systematic solution for customers purchasing Hyundai and Genesis new cars. The advantages are abundant. First and foremost, it offers a streamlined process for selling your used car online. By inputting your vehicle’s number, owner’s name, and mileage, you can receive an estimate in less than a minute. If your vehicle is equipped with Blue Link or Genesis Connected services, the “Retrieve Mileage” feature automatically logs your car’s mileage.
Customers requesting to sell their vehicle at current market prices will have expert assessors visit their location to evaluate the car’s condition. The purchase price is determined exclusively by Hyundai’s AI pricing engine and verified vehicle condition information by professional assessors, eliminating subjective evaluations to enhance objectivity. Following this assessment, a final purchase price (estimate) based on the vehicle’s condition information is presented to the customer. It’s important to note that the expert assessors visiting customers evaluate aspects such as accident history and damage on-site and do not engage in price negotiation.
In other words, apart from professional assessors visiting to evaluate the vehicle, the entire used car selling process is conducted through a contactless service. To ensure objectivity and reliability in used car pricing, Hyundai/Genesis Certified has built a database of approximately 80% of actual transaction prices in the domestic used car market over the last three years. Thanks to automatic updates every 15 days, these databases ensure even more precise valuation.
When customers opt to sell their Hyundai/Genesis certified used cars through “Sell My Car,” they receive a more precise assessment of their vehicle’s value. This advantage stems from utilizing automobile manufacturing information to more accurately reflect the vehicle’s specifications and value. Genesis customers, in particular, reap additional benefits. As the majority of Genesis vehicles are produced through “Your GENESIS,” allowing customers to directly customize specifications, each car is unique.
While regular used car dealers might struggle with precise specification differentiation and valuation for Genesis vehicles, Hyundai/Genesis Certified provides high residual values for customer cars based on the information available at the time of manufacturing. Customers selling Hyundai/Genesis certified used cars with under 5 years or 100,000 km mileage can also benefit from a supplementary quote through the compensation purchase service
Innovative used car purchase experience through a one-stop online platform
To provide customers with a convenient and unique used car buying experience, Hyundai/Genesis Certified operates a virtual showroom within its mobile application. Given that all buying experiences occur online, this platform replicates the tangible in-person experience through “All-Satisfactory Service.”
The “All-Satisfactory Service” offers visual information, such as 360° VR content of the car’s interior and exterior, undercarriage photos to check for leaks and damage, and ultra-high-definition images that can be magnified up to six times for touch. It provides tactile information like seat texture and quantifies indoor air quality for the sense of smell, in addition to auditory information captured by the engine check AI for engine sounds. It also offers a tactile sense, giving you insights into tire wear and advanced features’ status.
Moreover, a digital curation service helps customers find vehicles matching their preferences based on the models and keywords they’ve searched or by inputting preferred criteria such as price range and color. The platform supports personalized payment systems for those who prefer it, making it easy to purchase certified used cars. Hyundai/Genesis Certified is the first to introduce a card payment system for certified used cars, offering enhanced purchasing convenience, and cash transactions are still available.
The extensive customer care program reflects Hyundai/Genesis Certified’s commitment to providing comprehensive post-purchase support and ensuring customer satisfaction. One notable feature is the significant inclusion of a warranty for up to 1 year or 20,000 kilometers from the point of purchase of a certified used car; This warranty is provided based on whichever is longer between the remaining product warranty period and the certified used car warranty.
Furthermore, Hyundai/Genesis Certified introduces a unique feature to enhance customer benefits. It allows customers to earn Blue Members points or Genesis Membership points, equivalent to 0.2% of the certified used car’s price. These points can be accumulated and used not only within Hyundai/Genesis service networks but also at partner establishments for activities such as new car purchases, fuel, shopping, leisure, education, and more. In addition, customers who purchase certified used cars are offered free access to Blue Link or Genesis Connected services for up to one year from the time of purchase. If the remaining free usage period of Blue Link or Genesis Connected provided since the new car’s initial delivery is longer, that extended period will be granted.
Hi-LAB: Eradicating information asymmetry with the comprehensive used car information portal
Traditionally, the used car market has been plagued by a persistent issue known as the “lemon market.” This term refers to a market where information asymmetry between sellers and buyers leads to subpar goods being traded at prices higher than their true value. Much like a lemon that appears appetizing on the outside but tastes sour, this concept symbolizes this market inefficiency.
Hyundai/Genesis Certified has developed the Hi-LAB, a comprehensive used car information portal, to address information asymmetry in the used car market. Hi-LAB is accessible through the Hyundai/Genesis Certified website and application and serves as a valuable resource for used car buyers, empowering them to participate in the buying and selling process easily.
At Hi-LAB, you can access comprehensive historical information on the performance and condition of used cars, or check the market value and verify the authenticity of vehicles you may be interested in buying. Furthermore, you can explore a wealth of information about the used car market, including national transaction statistics, sales rankings, trend reports, and more.
Integrated history of used car performance/condition
Hi-LAB provides customers with a unique feature – integrated used car performance and condition history. This feature allows customers to understand the state and performance of a used car even without physically inspecting it. It compiles objective information, combining vehicle history data from government agencies and insurance records with manufacturing information from Hyundai and Genesis. With this, you can easily determine accident history, water damage status, insurance claim records, recall repairs, vehicle specifications, and more.
Authentic Listing Verification
False or fraudulent listings are a significant concern in the used car market. The authentic listing verification feature in Hi-LAB is designed to protect consumers from such scams. By inputting a vehicle’s identification number, you can cross-reference and verify if the used car listing is genuine and reliable. This function serves as a valuable tool in safeguarding consumers from potential scams and maintaining the integrity of the used car market.
Market Price Information
Highly accurate used car market price information is available through Hi-LAB. This function leverages a database consisting of 80% of actual transaction prices in the domestic used car market, utilizing big data to enhance the reliability of market pricing. It takes into account factors such as accident history, performance, condition, and specifications that have a direct impact on used car market prices, thus providing a more precise market valuation.
Used Car Trading Tips & Trend Reports
In addition to comprehensive vehicle information, Hi-LAB offers a rich content service featuring used car trading tips and trend reports. These informative and engaging contents aim to pique the interest of customers and provide valuable insights into the world of used cars.
As described above, Hyundai/Genesis Certified strives to provide valuable services to all potential customers looking to buy or sell used cars. They are committed to enhancing customer satisfaction through systematic used car trading processes and offering vehicles in top-notch condition. Furthermore, their goal is to contribute to reducing information asymmetry and increasing transparency in the used car market by providing integrated used car information to both customers and participants in the used car industry. More and more people will have the opportunity to experience advanced used car trading services with Hyundai/Genesis Certified in the future.
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