Kia Financing - September 2020

[Sxg34]

The current Kia financing offer (0.9% APR for 48 months) ends on Sep 08. My current ETA is 9/12. So I am a little nervous since I don't know what financing offers will be available post 9/8. When should I expect Kia rolling out the financing offers for the month of September? Should I secure financing from other bank too, just in case? Any tips would be helpful. Thanks!

 

[keg]

I would line up other financing, just in case. When we bought ours in July the Kia offer was a $500 rebate on the price of the car if we financed with them. However, their rate was higher than others to make up for that rebate. Some folks took the rebate and then refinanced the loan a month or two later. I didn't think of that at the time but we did finance elsewhere.

 

[Familyman20]

I cant see financing or rebates getting worse next week on the Telluride only better, but you never know. Some dealers will not honor KMF rates on this vehicle, mine didn't. They did offer me the $500 incentive for financing thru the dealer (not without a fight tho) so I took it and just completed a refinance for 2.49% @ 66mo. They were at 4.49%.
I recommend refinancing as soon as the respective financial institution provides you an account # with payoff information. Dont wait months to refinance, only hurts your credit more and helps the dealer get that retention bonus for keeping your loan open, which is why they tell you that "you're allowed to refi after 90 days". Its BS

 

[iTELLuWHAT_]

I would bet they keep the same financing with probably a better rebate as the vehicles start to pile up on lots. Wait until 9.9.20 at the latest to secure any type of financing when you find out what KIA will be offering.

Just because your vehicle comes on 9.12.20 doesn't mean you have to pick it up on that day.

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[svote]

Our dealer refused because they said "Nightfall" does not qualify. This was BS, but not much I could do as I challenged and said NO WHERE on your site/terms on Kia.com or your own site does it say this. They said: "Yeah, we need marketing to fix that".

We were locked in at a 2.75% w/ $500 discount on their $1000 mark up <eye roll>. Not the worst deal given the market and since we are planning on paying it off in a few months anyway, no big deal.

 

[Fireburd]

Our dealer refused because they said "Nightfall" does not qualify. This was BS, but not much I could do as I challenged and said NO WHERE on your site/terms on Kia.com or your own site does it say this. They said: "Yeah, we need marketing to fix that".

We were locked in at a 2.75% w/ $500 discount on their $1000 mark up <eye roll>. Not the worst deal given the market and since we are planning on paying it off in a few months anyway, no big deal.

Yeah that isn't true at all. I would ask them to put it on writing that they say Kia has excluded the nightfall model from the promotional rates. They have a lot of leeway as to what they offer at the local level but they can't blame that on corporate and maybe asking them to put it in writing might get them to "suddenly" realize that they made a mistake so their lie isn't reported higher up.

 

[Familyman20]

Yeah that isn't true at all. I would ask them to put it on writing that they say Kia has excluded the nightfall model from the promotional rates. They have a lot of leeway as to what they offer at the local level but they can't blame that on corporate and maybe asking them to put it in writing might get them to "suddenly" realize that they made a mistake so their lie isn't reported higher up.

They're just full of $hit is all. No two dealerships are the same although it says KIA on every building. My dealer told me KIA was at 4.9% with my credit on the 2021 Telluride but they were able to "get me" 4.74% thru TD Auto financing. Then it came down to 4.49% when I took delivery and I just received a letter yesterday from TD said they were able to drop it to 4.44% (probably bc I told the finance guy I was refinancing next week after taking delivery.) Its all just a scam to make more money bottom line. Im saving over $1,900 over the life of my loan if we dont pay it off sooner. Better in our pocket than theirs!
Im sharing this experience so other ppl are more informed. Know your credit, know competitive rates for your credit, and hold firm. If they want to sell you the vehicle at your terms within reason they will. Let some other sucker pay for the games not you. GL

 

[svote]

This is just the negative side of capitalism (no need to get political). A high demand product and as long as people (us right here) are willing to pay and accept the deal - bada bing bada boom. Not much more that can be done as you know if you walk away from the deal, someone else will be standing outside to take the same deal.

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[Fireburd]

This is just the negative side of capitalism (no need to get political). A high demand product and as long as people (us right here) are willing to pay and accept the deal - bada bing bada boom. Not much more that can be done as you know if you walk away from the deal, someone else will be standing outside to take the same deal.

Not necessarily. Even though these dealers are independent of corporate they still have rules and policies to follow. There is negative actions that can occur if they are violating corporate policies and procedures and if you suspect that is occurring asking them to simply put that in writing is enough motivation for them to quickly change course since there is now proof. However, like you said it's all supply and demand and how much someone is willing to overlook to get in the vehicle. Doesn't make what some of these dealers are doing ethical or honorable but if they can get away with it and out a few more dollars in their pocket then why not.

 

[Familyman20]

Exactly. All economical reasoning aside, it boils down to greed and ethics plain and simple. In my case I was told "well we could be selling over msrp!" Doesn't make the situation any better. Its still wrong to lie and cheat for more profitable margins. Lol

 

[Taketime]

I agree with Familyman20, No two dealerships are the same although it says KIA on every building. I was preapproved by the NFCU for 1.79 for 36 mos when I picked up my SX-P 8/17/20. Kia offered me 1.75 for 36 mos, a $500 Kia rebate and a $400 military rebate. Of course I went with Kia for the rebates.

 

[MBreu]

My dealer in Michigan no longer lists the 0.9% for 48 mos on their dealer website, they list the $500 rebate and 2.75%, however the kia.com still lists the 0.9% and my dealer did give me the 0.9% for 48 mos on Monday when I purchased my Telluride.

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[WaxZ28]

I'm hoping they extended it again like they did last month, especially considering all the delivery delays lately I should have had mine by now.

 

[Frankie Knuckles]

I agree with Familyman20, No two dealerships are the same although it says KIA on every building. I was preapproved by the NFCU for 1.79 for 36 mos when I picked up my SX-P 8/17/20. Kia offered me 1.75 for 36 mos, a $500 Kia rebate and a $400 military rebate. Of course I went with Kia for the rebates.

Thank you for your service to our country!!!!

 

[WaxZ28]

Bummer Looks like Kia dropped the 0.9% offer and raised it to 1.9% for up to 60 months or $500 Cash Back at 2.25%

 

[PassingTime]

Yep, one more reason to consider walking away from this. I feel like I need to take a shower rather than waiting any longer to get screwed once again waiting for a new Telluride! Been waiting while Kia has been playing games screwing over customers with paid deposits by ignoring their orders and instead jamming a $1295 add on down their throats in order to get one of their sacred cows. Been waiting for over 6 months, order canceled, reentered, sustaining model year price increases, a discontinuance of the original SWP, now they add on a point to the finance offer for a vehicle that they have yet to produce even one in this model year! Not 1, SX AWD P/T Dune Brown interior non NE has been produced! Very disappointing. Don't reply with its the hottest care out there BS. I have paid my depost and waited for them to deliver for over 6 months with no tentative delivery date even though I have been reassured that it has been accepted in KFOS.
B.O.H.I.C.A.

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[PassingTime]

I would bet they keep the same financing with probably a better rebate as the vehicles start to pile up on lots. Wait until 9.9.20 at the latest to secure any type of financing when you find out what KIA will be offering.

Just because your vehicle comes on 9.12.20 doesn't mean you have to pick it up on that day.

Yeah, right famous last words "They won't likely raise the rates."

 

[Mweiland]

Yep, one more reason to consider walking away from this. I feel like I need to take a shower rather than waiting any longer to get screwed once again waiting for a new Telluride! Been waiting while Kia has been playing games screwing over customers with paid deposits by ignoring their orders and instead jamming a $1295 add on down their throats in order to get one of their sacred cows. Been waiting for over 6 months, order canceled, reentered, sustaining model year price increases, a discontinuance of the original SWP, now they add on a point to the finance offer for a vehicle that they have yet to produce even one in this model year! Not 1, SX AWD P/T Dune Brown interior non NE has been produced! Very disappointing. Don't reply with its the hottest care out there BS. I have paid my depost and waited for them to deliver for over 6 months with no tentative delivery date even though I have been reassured that it has been accepted in KFOS.
B.O.H.I.C.A.

There has been SX AWD with prestige and tow with dune interior with no nightfall package produced.

 

[PassingTime]

There has been SX AWD with prestige and tow with dune interior with no nightfall package produced.

Sorry, you are probably correct I meant to add GWP color! I just did that sort this PM and still not seeing one!

 

[RyanATX]

Interesting move by Kia, I bet the dealers were asking for it (want to make more interest per Telluride). Positive is maybe it will backfire and reduce demand especially for the SX's.