The Kia finance process doesn’t have to be overwhelming, and when you visit Folsom Lake Kia, it won’t be. We off the tools and resources you need to begin financing on your terms and picking out the cars you love. Learn about how to determine your down payment with support from our expert team.

Why is a Vehicle Down Payment Important?

Your vehicle down payment is the amount of money you put down the day you take your vehicle home. It’s an important factor to consider, because the more money you can provide as a down payment, the lower your monthly payments will be. You’ll also be able to pay your loan off more quickly, and that means smaller accrued interest costs in the long term.

How Does Credit Score Affect Down Payment?

Your credit score is one of the most influential factors in determining the type of vehicle available to you. If you have a high credit score, you’ll have more favorable terms, including a longer term length and smaller interest rate, which means you won’t need to worry about putting down as much on the day of. If your credit score is lower, you’ll likely need to put down more money, since you’ll have a shorter term length.

How Much Should I Put Down?

If you’re not sure how much money to use for your down payment, consider the 20/4/10 rule. It recommends that you put 20% of the vehicle payment down and pay the loan off in four years. It also recommends spending 10% or less of your monthly income on transportation costs.

Get Kia Financing in Folsom, CA Today

No matter what your vehicle financing needs may be, Folsom Lake Kia has you covered. We’ll help you when it comes to the next Kia vehicle down payment, and beyond. Learn about the financing process and pick out the perfect vehicle for the road ahead at our dealership today!