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Has anyone refinanced?

Joflo0705

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Just wondering what kind of rates and terms you guys are getting when refinancing your Tellurides, thanks in advance.
 

wazslow

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Just wondering what kind of rates and terms you guys are getting when refinancing your Tellurides, thanks in advance.
I refinanced through Pentagon Federal Credit Union right away. It was an easy process. I took the $1500 rebate for financing with Kia at 5.9% (dealer marked it up 1%)for 72. I refinanced then with PedFed at 3.9% for 72.
 

Joflo0705

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Thats what im looking at right now. Just trying to see if theres anything lower out there. Might do the 3.49 for 60m.
 

Jdgate

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I have yet to get mine, however I am not finding lower then the$1500 rebate 2.9% for 60 that KIA has. I have some banks that said they will match the KIA rate as long as I finance within 60 days of purchase and they would offer me a credit back 1% of the sales cost.
 

Joflo0705

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Thats pretty good, i sold my car after i bought the Telluride and sent it to the principle so thats why im refinancing. I sold it for 4k more than what they offered me at the dealer for trade. Penfed offers 3.49 for 60 which isnt far off the 2.9 anyways.
 

Joflo0705

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I got 1.9% for 60 months through KIA with a $1000 rebate. I thought "Hey! Free money! Why not?!"
What was the $1000 for? Conquest? Loyalty? I got the $1500 for financing through kia plus the $1000 conquest.
 

AzTelly

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Sorry, yes i got the $1000 for the conquest (Former Jeep GC owner) and it was $1500 for the financing. Not quite sure where they make their money on financing at this rate but ok! I didn't have my deal docs in front of me.
 

Joflo0705

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Interesting they probably made a mistake on their end, i thought u had to get the 2.9 to get the $1500 rebate tho. Someone posted the chart on here. When did u purchase it?
 

Razorback

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I am refinancing through Navy Federal Credit Union now and am getting 2.9% for 72 months but you must be an E-7 or above in the military, guard, or reserves to qualify. If not the rate is 3.9%, which is still better than what I got with KIA even with a 800+ credit score.
 
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tom141

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does kia finance expect you to make a few monthly payments first before they allow you to refinance the loan? also when do you actually get your $1500 rebate? thx
 

ucinn

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You get the $1500 rebate the moment you sign the paperwork as it is written into the deal. If you want to be nice, you can wait the 90 days to refinance so your dealer gets their money from Kia. If you don't want to be nice, you can refinance right away.
 

mrmac

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does kia finance expect you to make a few monthly payments first before they allow you to refinance the loan? also when do you actually get your $1500 rebate? thx
Yes, they will at least hope you will keep the loan with them. That is how they make money. However, please know you are under no obligation to keep the loan with KMF. So please do what is in your best interest.

On the KMF side, being a captive finance unit, they are more or less subsidized by Kia. That is why Kia offers incentives to you to finance with KMF. On the back side of the transaction, the part you don’t see, KMF is paying your dealer a fee to pass the loan to them instead of you getting a loan elsewhere.

If you refinance within 90 to 120 days, MKF with take back the fee they paid to your dealer.

On finding your best refinance rate, you will get your best rate almost exclusively through a credit union, so use the web to search for the lowest cost to you. Many small local credit unions have ridiculously low rates that you can take advantage of. Best to you!
 

Razorback

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I refinanced last week through Navy Federal Credit Union. I have perfect credit and KIA gave my 5.9% for 72 months and just refinanced for 72 months @ 2.9%.
 
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