DAYTON, Ohio — Reynolds and Reynolds announced that Hyundai Capital America, which finances Hyundai and Kia vehicles sold in the United States, has adopted the Reynolds LAW 553 Universal Retail Sale Contract for use in its vehicle financing business.
The Reynolds LAW 553 will now become a standard part of the financing process for the nearly 1,500 Hyundai and Kia dealerships nationwide.
The Reynolds LAW 553 form is designed to meet the specific automotive financing laws and regulations from each state. The law firm Hudson Cook LLP, which has experts in automotive finance law, regularly reviews the LAW 553 contracts so that they conform with changing regulations.
“The LAW 553 contract continues to gain acceptance among dealerships and prominent lenders in automobile financing,” said Jerry Kirwan, senior vice president at Reynolds and Reynolds. “We’re pleased to now include Hyundai Capital in this important group.”