Kia Financing October 2020

[nosok12]

Any insight of KIA financing offers/incentives as we're just a few hours away until the start of October...

 

[DougSears]

Have not seen anything yet but picking up my Telluride Friday if all goes well.

 

[MarcinTexas]

Any insight of KIA financing offers/incentives as we're just a few hours away until the start of October...

I am curious myself as I pick mine up the middle of Oct as well.

 

[EverlastingNightfall]

Until a supply/demand shift or an economy shift happens, are we expecting significant changes to the boring 1.9%? Any worse than that and you’d just go get private financing and I don’t think we’ll see 0% until the Covid economy slump is in full swing (just barely started)

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[RyanATX]

Until a supply/demand shift or an economy shift happens, are we expecting significant changes to the boring 1.9%? Any worse than that and you’d just go get private financing and I don’t think we’ll see 0% until the Covid economy slump is in full swing (just barely started)

The line of buyers is getting shorter for certain, at some point everyone that wanted a new car in 2020 and has a job that is rock solid will have purchased. 60 % of small business are on the brink of being done, corporate lay offs starting to happen, this will certainly affect Kia even on Tellurides. I'm with you in that the economic impacts are still being felt and will probably last into mid 2021. Lets hope Kia gets proactive!

I have a search set up on Auto trader, 2 months ago there were virtually no Tellurides on there, now most dealers have several sitting on lots available. Just driving by car dealers, you can see they are stocked up again, and I bet things are SLOW.

 

[ccorry21]

The line of buyers is getting shorter for certain, at some point everyone that wanted a new car in 2020 and has a job that is rock solid will have purchased. 60 % of small business are on the brink of being done, corporate lay offs starting to happen, this will certainly affect Kia even on Tellurides. I'm with you in that the economic impacts are still being felt and will probably last into mid 2021. Lets hope Kia gets proactive!

I have a search set up on Auto trader, 2 months ago there were virtually no Tellurides on there, now most dealers have several sitting on lots available. Just driving by car dealers, you can see they are stocked up again, and I bet things are SLOW.

Yup, as Kia has had higher production for a couple months now, the inventory is going to start sitting. I’ve started seeing dealers on FB advertising $500 off just because.

 

[jenfowler78]

I don't know about financing, but I know the money factor went up for leases to .00171 (4.1%).

 

[claybakin247]

Ive been refreshing that page repeatedly all morning! LOL!

Just for fun though. Ive decided to hold off on buying to see what the holidays bring, may even hold off til next year and save up so I can get in a higher trim level. I’m anxious but trying to be smart. We don’t need this car right now so why rush it?

Of course just as there’s the chance for better pricing at the dealership, there’s also a chance of manu increases. I compared MSRP using Failcat and the increases this year weren’t all that significant. Unless I’m mistaken. I did not check every trim model.

My attitude is if I wait 5-6 mos down the road, I‘ll just go with the flow. Buy now, buy later? There’s pros and cons to both.

I keep hearing from people around me to expect a significant downturn in our economy soon here in the states. My husband works for the largest printing company in the nation and they are struggling right now. Luckily he’s still working and has been except for one week furlough last May. However, some of his coworkers there were “gifted” with as much as 2 mos off. I say gifted because when they did finally return to work there were many stories about their brand new cars, new furniture etc etc thanks to that nice bonus awarded by the fed on top of their unemployment checks.

Sorry for the rant!

Im no economist so I do appreciate any insight from the community here as to what may be around the corner for us wannabe Telluride owners. Of course no one has a crystal ball.

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[BrendonSF]

So all of the promotional financing offers for the Telluride disappeared for me this morning. They were there as of Tuesday. Hopefully they're just updating the page, and they aren't really gone.

 

[rbfromma]

If I recall, the current "September" offers run through Oct 8. I would expect the new offers to show just prior to that.

 

[Mavrx]

So is the $500 cashback gone for kia financing?

 

[claybakin247]

Deals have completely gone for my zip code now, 6pm ET. Absolutely nothing, not even military. On any model.

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[claybakin247]

So is the $500 cashback gone for kia financing?

It is for my area, and probably everywhere else too. Unless they just haven’t updated it for October. My dealer had a banner on their website for $500 off and that’s gone now too. I had thought it was a dealer only offer but since it’s gone I realize it was in reality a manufacturer offer. Funny how they try to make you think they’re personally giving you something when it’s actually coming from the manufacturer.

I’m not very well versed in car buying but I can see there’s quite a learning curve. This forum has been invaluable the short time I’ve made use of it.

 

[StephenCantrelle]

1.9 is now up 66 months.
2.9 for 72 months.
3.9 up to 84 months.

Tier one credit rates. 720+

500 rebate still available at higher APR's

 

[Katy_Tell]

Stephen, can you show us the interest rates if accepting the rebate?

Btw, can the rebate be used as part of the down payment?

Thanks.

 

[zhelder]

1.9 is now up 66 months.
2.9 for 72 months.
3.9 up to 84 months.

Tier one credit rates. 720+

500 rebate still available at higher APR's

Just curious, Stephen, do you know if your credit gets dinged harder for loans over 60 months?

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[StephenCantrelle]

Stephen, can you show us the interest rates if accepting the rebate?

Btw, can the rebate be used as part of the down payment?

Thanks.

Rebate automatically gets used as down payment unless specifically requesting money back to customer.. this is very rare as almost everyone 99% apply to save interest or lower payment..

Rate with rebates vary depending on score.. its best to use this method if thinking of paying cash or refi loan right away.. then just scoop the 500 rebate.. If not the case just go with low APR

 

[StephenCantrelle]

Just curious, Stephen, do you know if your credit gets dinged harder for loans over 60 months?

Not to my knowledge.. I believe longer your average loan is the higher your score goes...

I'm not credit genius or anything like that.. I have a terrible time paying off cars as I'm usually in something different every 3 years(bad part about being in the business... always have an itch) So I see that as my only ding on my score is paying off loans to quickly due to me switching cars... but even so I think with that my score is around 870... so I think your fine either way.. when I do loans its for 72 months(that's just me though lots of ways to get a car)

 

[Olafo]

Offers page has been updated on Kia's website.

 

[maridi]

I think the only difference it would make is that you would have an outstanding balance on your credit report longer and it would take longer to make that balance a lower amount. It always looks better if we don't have a lot of loan balances. I have always thought it was worse to have too many credit inquiries done, so that would worry me more than a longer loan term.
Now, if you were to buy a house, they hate big payments, because they are always looking at our ratios of what we have to pay vs our new house payment. Some of the shorter term loan payments are almost a house payment.