What Is Genesis Finance? A Complete Beginner’s Guide to Services and Benefits
If you search for “Genesis Finance,” you may find two different companies. They share the same name. This causes confusion for many people. You need to know which one you want. This guide is for beginners. It explains the two main companies: Genesis Motor Finance (for luxury cars) and Genesis Credit (for consumer credit). You will learn their services, benefits, and differences. By the end, you will know which one is right for you. You will also learn how to manage your account easily.
The Primary Focus: Genesis Motor Finance (Auto Loans & Leasing)
Most people who search for Genesis Finance mean the car finance company. It belongs to Genesis Motor, a luxury car brand. Genesis Motor is part of Hyundai Motor Group.
This company is called Genesis Motor Finance (or just Genesis Finance in the US, UK, and Australia). It is run by Hyundai Capital. Its only job is to help people buy or lease Genesis luxury cars like sedans and SUVs.
Key Automotive Finance Services
Genesis Finance offers special plans for car buyers. These plans make owning a luxury car easier.
Retail Financing (Auto Loans):
This is a loan to buy the car. You pay monthly with interest. After the last payment, the car is yours. This is good if you drive a lot or want to keep the car for many years.
Leasing:
You pay monthly to use the car. Payments are lower than buying. But you must follow rules. For example, you can drive only 10,000 to 15,000 miles per year. You must return the car in good condition. This is good if you like a new car every few years.
Guaranteed Future Value (GFV):
In the UK and Australia, this is called Personal Contract Purchase (PCP) or GFV loan. The company promises a minimum value for your car at the end. You have three choices:
- Return the car.
- Pay the GFV and keep the car.
- Trade it for a new one. This gives you flexibility.
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Protection Products:
You can buy extra protection. For example, Genesis Guaranteed Asset Protection (GAP). If your car is damaged in an accident and insurance does not pay the full loan, GAP covers the rest. This protects your money.
Managing Your Genesis Finance Account
You can control everything online. Use the official Genesis Finance My Account Login for your country. There you can:
- See your payment history.
- Download statements.
- Get a Genesis Finance Payoff Quote (how much to pay to own the car now).
It is safe and easy. Always use the official website.
The Secondary Focus: Genesis Credit (Consumer Financing)
The other company is Genesis Credit. It helps people get credit for shopping. It is not for cars.
Important Update:
In September 2023, the company changed its name. The parent company is now Concora Credit. But many people still call it Genesis Credit. The products may say Concora Credit Genesis.
What is Second-Look Financing?
Second-Look Financing helps people who cannot get normal credit.
Here is how it works: You want to buy furniture, jewelry, or home items. The store checks your credit. If the main bank says no, the store sends your application to Genesis/Concora Credit.
They look at more than just your credit score. They check:
- Your bank account activity.
- Your income and spending.
Even if your credit is not perfect, you may get approved. This helps the store sell more. It helps you buy what you need.
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Products
Genesis Credit offers credit cards for people with low or no credit. Examples:
- Indigo Platinum Mastercard Genesis
- Milestone Gold Mastercard Genesis
These cards help you:
- Buy things now.
- Build better credit if you pay on time.
You manage these cards online. Use Genesis Credit Card Login or the Concora Credit Genesis portal.
Genesis Finance vs. Genesis Credit: Key Distinctions
Here is a simple table to compare the two:
| Feature | Genesis Motor Finance | Genesis Credit (Concora Credit) |
|---|---|---|
| Industry | Luxury car financing | Consumer credit and retail shopping |
| Main Products | Car loans, leases, GAP insurance | Credit cards, second-look loans |
| Who Uses It | People buying Genesis luxury cars | People with low credit buying furniture, jewelry, etc. |
| Parent Company | Hyundai Capital (USA, UK, etc.) | Concora Credit Inc. |
Now you can see the difference clearly.
How to Find Help
- Need help with car loan payment? Call Genesis Finance Customer Service Number (for cars).
- Need help with credit card bill? Contact Concora Credit.
Always check the official phone number or website.
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Final Word: Making Your Choice
You now know the two Genesis companies:
- Use Genesis Car Finance if you want a luxury Genesis car like the G80.
- Use Genesis Credit Account Management if you want to shop and build credit.
Pick the right one. Use the correct website. This avoids confusion.
For example:
- Go to the car finance site for lease-end options.
- Go to the credit site to pay your card bill.
Always double-check the official source. Things like interest rates or rules can change.
Did this guide help you? What did you learn? Share your thoughts in the comments!
Disclaimer:
This guide is for learning only. It explains Genesis Motor Finance (cars) and Genesis Credit (now Concora Credit). Details like interest rates, phone numbers, or lease rules can change. Always check the official company website before you decide. Do not rely only on this guide for money decisions.
