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Personal Finance

Finance Explained

 

We understand that buying your car will be one of the most significant purchases you will make, so it is important that you consider all the available options. We'll provide you with key information on our products to help make that decision easier

With our fixed interest rates and flexibility of finance plans your new Kia has never been more accessible.

Applying for a finance plan through your local Kia dealer is easy; they will support you in choosing the right plan for your needs.

Why not check out the latest offers or read below for an overview of our most popular products; Personal Contract Purchase and Personal Motor Loan.

 

Personal Contract Purchase (PCP)

 

 

Personal Contract Purchase explained

  • At the start of the agreement we’ll set an optional final payment for your car, this will be based upon your chosen agreement term and approximate annual mileage.
  • You pay a deposit and then make monthly repayments based on the outstanding loan balance less the optional final payment.
  • At the end of the monthly repayment period you’ll have three options:

 

 

Pay the optional final payment and take ownership of the car

 

 

Hand back the car with nothing more to pay. Subject to mileage and fair wear and tear. If electing to hand the vehilce back at the end of contract, any mileage in excess of the agreed limit will be chargeable at 9p per mile (Inc. VAT) for all models

 

 

Part exchange the car and use any equity as a deposit on your next car (if any available, which cannot be guareanteed)

What else do I need to know?

  • Typical repayment periods are over 25, 31, and 37 months
  • The optional final payment is based on your repayment period and mileage. This can be set from 6,000 to 30,000 miles per annum
  • The car can be up to 47 months old and 50,000 miles at the start of the agreement and must not exceed 84 months or 100,000 miles at the end of the agreement
  • a maximum of 50% deposit is allowed and the minimum loan amount is £3,000
  • You will not own the vehicle untill all monthly repayments are made, including the optional final payment
  • we may choose to offer you an alternative product as part of our underwriting conditions which may include a Fixed Sum Loan with OFP. Your dealer will make you aware of this after your application for finance has been received and assesed by us

Key Considerations

  • It is important that you carefully consider whether you can afford the payments and you should also consider any chances in your circumstances that might affect your ability to make the payments
  • You do not own the goods until such time as you have paid all amounts due under the agreement
  • You will be responsible for any loss of, or damage to, or deterioration of the goods, except through fair wear and tear
  • If the good sare a total loss because they are lost, stolen, destroyed, or damaged so badly that the insurer decides they are not worth repairing you will be immediately liable for any arrears accrued before the date of the total loss and the rest of the totyl amount payable under the agreement less a rebate for early repayment as required by law
  • The good scan be repossessed in the case of default. However if you have paid at least one third of the total amount payable we may not take back the goods againt your wishes unless we get a court order. In Scotland we may need to get a court order at any time. If we do take the goods without your consent or a court order, you hae the right to get back any montey that you have paid under the agreement
  • It is important that you keep up with the repayments due under the agreement at the times required by the agreement. If you do not, then some or all of the following may arise:
    1. Your credit reating may be reduced making it more difficult or expensive for you to obtain credit in the future
    2. We will take steps to recover the money you owe us. This may include taking action through our collections department, a debt collection or similar agency. We may also take legal action to take back the vehicle and in some circumstances take further legal action to recover tsums remaining due which may include applying for a court order for the sale of your home

T&C's Apply. Subject to status. 18's or over. Guarentee may be required. Kia Finance RH2 9AQ

Personal Motor Loan

A simple and traditional way to finance your car over a fixed period for a fixed monthly amount.

Personal Motor Loan explained

You pay a deposit then make regular monthly repayments to repay the balance, it's that simple.

as your interest rate is fixed you'll know exactly how much you'll repay at the outset of the agreement.

Only once all monthly repayments have been made will you own the car.

What else do I need to know

  • The minimum loan amount is £3,000. Repayment periods can vary from 12-60 months, with a minimum deposit requirement of 0% (criteria may vary dependant on campaign programmes).
  • The car must not be more than 14 years old at the end of the agreement period.
  • We may choose to offer you an alternative product as part of our underwriting conditions which may include a Fixed Sum Loan. Your dealer will make you aware of this after your application for finance has been received and assessed by us.

Key considerations

  • It is important that you carefully consider whether you can afford the payments and you should also consider any changes in your circumstances that might affect your ability to make the payments
  • You do not own the goods until such time as you have paid all amounts due under the agreement.
  • You will be responsible for any loss of, or damage to, or deterioration of the goods, except through fair wear and tear.
  • If the goods are a total loss because they are lost, stolen, destroyed or damaged so badly that the insurer decides they are not worth repairing you will be immediately liable for any arrears accrued before the date of the total loss and the rest of the total amount payable under the agreement less a rebate for early repayment as required by law.
  • The goods can be repossessed in the case of default. However if you have paid at least one third of the total amount payable we may not take back the goods against your wishes unless we get a court order. In Scotland we may need to get a court order at any time. If we do take the goods without your consent or a court order, you have the right to get back any money that you have paid under the agreement.
  • It is important that you keep up with the repayments due under the agreement at the times required by the agreement. If you do not, then some or all of the following may arise:
    1. Your credit rating may be reduced making it more difficult or expensive for you to obtain credit in the future.
    2. We will take steps to recover the money you owe us. This may include taking action through our collections department, a debt collection or similar agency. We may also take legal action to take back the vehicle and in some circumstances take further legal action to recover sums remaining due which may include applying for a court order for the sale of your home.

T&Cs Apply. Subject to status. 18s or over. Guarantee may be required. Kia Finance RH2 9AQ.