How did you buy your Kia?

[Wenthos]

I am in the process of buying a Kia Telluride SX. I was curious how did you buy your Kia? Finance through Kia Motors or went with your own or paid it out right? Did Kia give you $500 for using their financing....what interest rate did you get. The 1.9% or 2.25%? Did you add anything like insurance............

 

[HillCountry]

I went with the 1.9% through KMF. The option with the $500 rebate was coupled with a higher rate that didn’t make sense for me. My credit union didn’t have better options at the time. In any case, I skip gap insurance.

 

[Wenthos]

What’s the gap insurance??? So if they offer you 1.9 you don’t get the $500 rebate

 

[Tortuga07]

What’s the gap insurance??? So if they offer you 1.9 you don’t get the $500 rebate

Correct. You get the $500 finance rebate OR the low 1.9%. Not both.

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[HillCountry]

What’s the gap insurance??? So if they offer you 1.9 you don’t get the $500 rebate

Right,1.9% has no rebate. Gap insurance pays off the difference between loan balance and car value... for example if car is totaled and auto insurance payout is less than what is still owed on car, then gap insurance kicks in. I heard this is only useful for long loans.

 

[BasilFawlty]

I am in the process of buying a Kia Telluride SX. I was curious how did you buy your Kia? Finance through Kia Motors or went with your own or paid it out right? Did Kia give you $500 for using their financing....what interest rate did you get. The 1.9% or 2.25%? Did you add anything like insurance............

Put $1000 down, negotiated the price (MSRP minus $400 KIA Military discount). Hadn’t decided whether to finance with them or my USAA credit union. In the end, I decided to just pay cash.

 

[Indy Dick]

Right,1.9% has no rebate. Gap insurance pays off the difference between loan balance and car value... for example if car is totaled and auto insurance payout is less than what is still owed on car, then gap insurance kicks in. I heard this is only useful for long loans.

Its a good idea for those that don't put much down. As you know most cars will depreciate significantly in the first year. In fact, just driving it off the lot will cause major depreciation. The Telluride is an exception that rule; at least right now.