We know that buying a car is not as simple as buying a new dress from Macy’s or a week of groceries from HEB. More than likely, you will need to finance your purchase through your bank of choice or the dealership and you will have interest rates that could potentially be scary high.

Because of the continuous loyalty of Hyundai customers, the car brand has shown its appreciation yet again and found another way to help car buyers save on new vehicles. Hyundai has agreed to continue its partnership with BoostUp through January 2017 to encourage drivers to budget and save up for a down payment using the social savings program.

Hyundai started working with BoostUp last year with the Hyundai Sonata Starter Boost program. The car manufacturer matches up to $500 for car buyers looking to purchase a brand new Hyundai vehicle. The money can only be used towards a down payment on the ride.

"We are extremely excited to continue our partnership with BoostUp, which is a perfect way to help today's smart car buyers," said Hyundai’s Vice President of National Sales Bob Pradzinski in a press release about the partnership. "Younger car buyers are looking for different ways to afford a new vehicle and our partnership with BoostUp gives prospective customers a hassle free savings platform that comes with a $500 reward for their savings effort."

What’s BoostUp?

Boostup has turned saving for life’s biggest purchases, cars and homes, into a fun, social experience. When this program is used, brand partners help users save up for their down payment by matching dollar for dollar up to a certain limit. The program is free for everyone to use and reach their dreams a little bit faster.

"Our relationship with Hyundai has allowed thousands of people to afford the car of their dreams," said BoostUp founder and CEO John Morgan in a press release. "The goal of BoostUp is for people to save responsibly for life's big purchases, and what better way to reward them for doing so than by giving them a $500 Boost toward the purchase of any one of Hyundai's great vehicles."

You can also save up and take advantage of this program, too. Just head to BoostUp.com and sign up using your Facebook or Google Plus account. From there, you can select what you are saving your money for, either a down payment on a home or a car and set your saving goals. After that, you can share your goals on social media for friends and family to contribute to. After 30 days of saving money, you can either withdraw your money or keep saving it up.

Are you using BoostUp to save for a new car? Tell us all about it in the comments below.

We have detected that you are using an outdated version of Microsoft Internet Explorer (version 10 or lower) that is no longer supported.To access this website, please upgrade to the new Microsoft Edge browser or Internet Explorer version 11, or alternatively you can use the latest versions of Chrome, Firefox or Safari browsers.