Hyundai Capital America enters equipment finance with Alfa tie-up

Hyundai Capital America (HCA) is expanding beyond its core auto finance business into the equipment finance market, signalling a major strategic shift driven by technology, partnerships, and innovation.

The move marks HCA’s first significant venture outside of traditional vehicle financing and underscores its ambitions to diversify revenue streams and support the evolving needs of its dealer and commercial customer base.

Speaking at the Equipment Leasing and Finance Association’s 2025 Annual Convention on October 27, Daniel Kipper, HCA’s executive director of product development and mobility, announced a new partnership with Alfa Financial Software, a global provider of asset finance technology. The collaboration will serve as the technological foundation of HCA’s new equipment finance operations.

The initial phase of HCA’s equipment finance expansion will focus on trailer financing, expected to include Hyundai Translead, a Hyundai affiliate and trailer manufacturer. Over time, the company plans to broaden its scope to include robotics, fleet-as-a-service (FaaS), and other verticals.

HCA also plans to offer a full suite of lease, loan and subscription products over the next five to ten years to meet evolving customer needs in the automotive space, particularly as affordability challenges drive demand for flexible ownership models, Kipper said. 

HCA’s new approach aims to reduce asset burdens on auto dealerships, which continue to adopt commercial rental and fleet models by maintaining ownership on the lending side, Kipper said. 

“Our intention is to retain ownership of those units and allow them to be utilised in the dealer rental, short-term rental model for any of the dealers,” he said. “We’re removing that asset burden, owning the equipment, and allowing the dealer to utilise it in the way they need to generate additional revenue.”

The new model builds on lessons learned from HCA’s earlier subscription program, where dealers were both asset owners and operators. The company is now transitioning to a fleet-as-a-service structure that reduces costs and complexity for participating dealers.

“We’re going to own that asset but give them the same level of technology and cost of support to deliver operational excellence on their end,” Kipper said. “That’s how we’re making it better and more acceptable to the dealers, because one of the biggest pieces for dealers is that asset, and the expense associated with the asset.”