Kia Financing October 2020

[locorecto]

Here is what is on the Kia website as of this morning. Looks like it's not updated yet for the month of February. I'm no expert but there are some fine print that caught my eye as a customer and led to questions.

1. Quantities limited- Limits placed on dealers on how many customers or vehicles can get this deal?
2. Participating dealers- dealers aren't required to offer the deals?
3. Very well qualified buyers- what is the minimum FICO, annual income, etc for the financing.
4. Take delivery from retail stock- does this mean the special financing isn't available for ordered vehicles?

1.9-3.9% APR​

48-75 Months
for Qualified Customers

Quantities limited. Available only at participating Kia dealers. Contact your local Kia dealer for availability. 1.9% Annual Percentage Rate (APR) up to 48 months. $21.65 per month per $1000 financed at 48 months. 1.9% Annual Percentage Rate (APR) up to 60 months. $17.48 per month per $1000 financed at 60 months. 1.9% Annual Percentage Rate (APR) up to 66 months. $15.97 per month per $1000 financed at 66 months. 2.9% Annual Percentage Rate (APR) up to 72 months. $15.15 per month per $1000 financed at 72 months. 3.9% Annual Percentage Rate (APR) up to 75 months. $15.05 per month per $1000 financed at 75 months. APR financing available, subject to credit approval by Kia Motors Finance (KMF), through KMF, to very well qualified buyers and not available on balloon financing. Only a limited number of customers will qualify for advertised APR. No down payment required. Must take delivery from a participating dealer and from retail stock from 1/5/2021 to 2/1/2021. New vehicles only. This incentive is a limited time offer on eligible Kia vehicles and may not be combined with other special offers except where specified. Dealer contribution may vary and could affect actual monthly payment. See your participating Kia dealer for more details on these special offers. Finance contract must be signed and dated no later than 2/1/2021.

Obviously I am no dealer but I am going to reply to this thread base on my experience and the experience from other people on the forum.

1. There is no limit. This is probably Kia to try to cover their a** in court.
2. Correct, dealers are not required to offer the deal, but this is usually not arbitrary. They are supposed to tell you upfront weather they offer the deal or not.
3. I think you need 760+ to get the best rates.
4. Specially financing is available for ordered vehicles but only at the time of delivery. In other words, they cannot apply a financing offer at the time you order the vehicle.

Same offer is available for March

 

[TN Gal]

Obviously I am no dealer but I am going to reply to this thread base on my experience and the experience from other people on the forum.

1. There is no limit. This is probably Kia to try to cover their a** in court.
2. Correct, dealers are not required to offer the deal, but this is usually not arbitrary. They are supposed to tell you upfront weather they offer the deal or not.
3. I think you need 760+ to get the best rates.
4. Specially financing is available for ordered vehicles but only at the time of delivery. In other words, they cannot apply a financing offer at the time you order the vehicle.

Same offer is available for March

Thank you very much for the info. That was very helpful.

 

[RyanATX]

is the 2.25% with $500 rebate offer gone for February? can't find it on kia.com

 

[locorecto]

Its a internal rebate.. not advertised.. never has been

is the 2.25% with $500 rebate offer gone for February? can't find it on kia.com

As @StephenCantrelle mentioned, these are internally disclosed only to KIA dealers. Not all dealers participate in this offer and they can decide to increase 1 point (0.25%) to to the rate.

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[RyanATX]

As @StephenCantrelle mentioned, these are internally disclosed only to KIA dealers. Not all dealers participate in this offer and they can decide to increase 1 point (0.25%) to to the rate.

got it, thanks

 

[nosok12]

You guys may want to look at your local credit unions. The wife and I locked in at 1.9 and have no fees to pay for how much we borrow. We did have to open a savings account but that's all good for that low rate.

 

[exp1orer]

I'm talking to a dealer that is willing to order my SX AWD P/T at MSRP with a $600 dock. Not terrible, but when I asked about financing rebates, they said, they would offer whatever is available when the car is delivered. They said they got burned by offering higher incentives and when it came time to finance, due to the length of time to get the vehicle, the offer was no longer available. That sounds reasonable, but curious what others are experiencing?

 

[RyanATX]

I'm talking to a dealer that is willing to order my SX AWD P/T at MSRP with a $600 dock. Not terrible, but when I asked about financing rebates, they said, they would offer whatever is available when the car is delivered. They said they got burned by offering higher incentives and when it came time to finance, due to the length of time to get the vehicle, the offer was no longer available. That sounds reasonable, but curious what others are experiencing?

I was told the exact same thing, sounds truthful

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[locorecto]

I'm talking to a dealer that is willing to order my SX AWD P/T at MSRP with a $600 dock. Not terrible, but when I asked about financing rebates, they said, they would offer whatever is available when the car is delivered. They said they got burned by offering higher incentives and when it came time to finance, due to the length of time to get the vehicle, the offer was no longer available. That sounds reasonable, but curious what others are experiencing?

This is normal... Dealers don't wants lock a rate for 3-6 months. Finance discussion is done at delivery.

 

[exp1orer]

Thanks everyone. I spoke with Lucas at Muncie and he said the same. Ended up ordering through them. Now the long wait!