Financing a Kia in Australia
Known for its reliable family cars, Kia is growing in popularity among Aussie drivers.
It was the third best-selling manufacturer in 2022, behind only Toyota and Mazda. The Sportage (the extremely popular SUV), and the Cerato (its stylish hatchback) are the top-selling Kia cars in Australia.
With lower prices than some of the other dominant car brands, Kia is popular with money-savvy motorists.
If you’re looking to buy a Kia, you’ll want the best deal on your finance too. That means comparing multiple lenders. Not just the one your local Kia dealer is partnered with.
As we’ll see, the interest rate on your Kia finance will make a big different to what you pay.
Kia finance options at a glance
- Finance for all Kia models including the Sportage, Sorento, Carnival and Cerato
- Low rate secured car loans
- Borrow up to $150,000
- New or used car finance
- Fixed & variable interest rates
- Finance terms from 1 - 7 years
- Flexible repayment options
- Pre-approval available
- Novated lease for Kia available
Best Kia finance rates compared
Kia model | Rio (S Auto) |
|---|---|
Estimated cost | $23,706 |
Monthly repayments (6% p.a. interest) | $458 |
TitleMonthly repayments (8% p.a. interest) | $481 |
Monthly repayments (10% p.a. interest) | $504 |
Kia model | Cerato (S Hatch Auto) |
Estimated cost | $28,190 |
Monthly repayments (6% p.a. interest) | $545 |
TitleMonthly repayments (8% p.a. interest) | $572 |
Monthly repayments (10% p.a. interest) | $599 |
Kia model | Sportage (S FWD Auto) |
Estimated cost | $37,048 |
Monthly repayments (6% p.a. interest) | $716 |
TitleMonthly repayments (8% p.a. interest) | $751 |
Monthly repayments (10% p.a. interest) | $787 |
Kia model | Sorento (S Auto Sports) |
Estimated cost | $50,449 |
Monthly repayments (6% p.a. interest) | $975 |
TitleMonthly repayments (8% p.a. interest) | $1,023 |
Monthly repayments (10% p.a. interest) | $1,072 |
Kia model | Carnival (S Auto) |
Estimated cost | $50,271 |
Monthly repayments (6% p.a. interest) | $972 |
TitleMonthly repayments (8% p.a. interest) | $1,019 |
Monthly repayments (10% p.a. interest) | $1,068 |
| Kia model | Estimated cost | Monthly repayments (6% p.a. interest) | TitleMonthly repayments (8% p.a. interest) | Monthly repayments (10% p.a. interest) |
|---|---|---|---|---|
Rio (S Auto) | $23,706 | $458 | $481 | $504 |
Cerato (S Hatch Auto) | $28,190 | $545 | $572 | $599 |
Sportage (S FWD Auto) | $37,048 | $716 | $751 | $787 |
Sorento (S Auto Sports) | $50,449 | $975 | $1,023 | $1,072 |
Carnival (S Auto) | $50,271 | $972 | $1,019 | $1,068 |
How to get the best Kia finance deal
The interest rate you get on your Kia is very important. But getting the best deal on Kia finance overall means paying attention to other factors as well.
Ongoing finance rate
Some car finance deals come with an introductory finance rate that reverts to a higher rate. Make sure your Kia finance has a low rate throughout the term.
Fees
Some lenders charge an application fee and ongoing fees. These can really add up. But you should be able to find Kia finance with low or no fees.
Finance term
Watch out if you’re offered a loan term that’s longer than it needs to be. You’ll have lower regular repayments with a longer term, but the lender will charge you more interest overall.
Repayment flexibility
Having the ability to make extra repayments without being charged a fee will mean you have the option to pay off the loan early to save on interest.
Eligibility for Kia finance
To qualify for a Kia car loan, you’ll need to:
- Be at least 18 years of age
- Be an Australian citizen or permanent resident
- Have a regular source of income
- Have a credit score above the lender's cut-off
- Meet the lender’s other credit criteria
How to apply for Kia finance
Here’s a quick overview of the process for applying for Kia finance:
-
Compare your tailored Kia car loan quotes
-
Choose your best deal
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Submit an application with the lender
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Upload documents to support your application
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Your application will be assessed by the lender
If successful, you’ll be either get car loan pre-approval up to a certain amount (this means you can go shopping for your Kia with confidence), or full approval if you have already decided on the model you want to buy.
With some lenders it’s possible to get your Kia finance approved the same day you apply.
Options for financing your Kia
1
Secured vs unsecured Kia finance
Financing your Kia with a secured car loan will almost certainly be cheaper than unsecured finance. This is because your Kia will be used to secure the loan, which reduces risk for the lender.
One thing to watch out for is if you are buying one of Kia’s electric vehicles and you’re planning to buy a fast charger and battery for your home at the same time. You will likely only be able to cover the cost of the vehicle itself using a secured car loan.
2
Green loans to finance a Kia
If you’re buying one of Kia’s electric vehicles (Niro or EV6) or a plug-in hybrid (Sorento) you may be eligible for a special finance discount through a green loan. This is a type of personal loan offered by some lenders specifically for environmentally-friendly vehicles and other green purchases.
Financing a Kia this way means you could get a discounted interest rate and lower fees.
3
Balloon payment options on Kia finance
If you take out finance on a Kia, you may have the option to get a car loan with balloon payment. What this means is you’ll pay off a portion of the vehicle in a single lump sum at the end of the finance term. With a standard car loan, you pay off the entire balance gradually.
Having a balloon payment means the regular repayments on your Kia will be lower, but the overall cost of the finance will be higher.
When the balloon payment falls due you will have the option to pay it or refinance it into a new loan.
4
Kia car loan vs novated lease
If your employer offers novated leasing, this will be another option for financing your Kia. The vehicle can still be used 100% for personal use, but the finance payments will be deducted from your pre-tax salary by your employer. This means a significant tax saving on Kia finance compared to a car loan.
You’ll be able to cover the running costs for your Kia through your salary as well, for extra tax savings. There is also a GST saving on the purchase price of the vehicle and ongoing running costs with a novated lease.
5
Kia finance for business and self-employed borrowers
If your Kia will be used for business purposes more than 50% of the time, you will have the option to finance it through a business car loan (sometimes referred to as a chattel mortgage). There are tax advantages to using business finance if you’re eligible.
This can also be an option for self-employed borrowers looking to finance a Kia. If the vehicle will be used mainly for personal use, a low doc car loan is another option for self-employed borrowers. It means you can apply without the standard documents (e.g. payslips) that mainstream lenders expect.
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