Are you shopping for a new car? You can’t go wrong with a Kia model. Once you decide on a model and trim, you’ll proceed to our Kia finance center. You may have some questions about how the process works. Here are the three most common inquiries we get from car buyers.

1. What’s the Out-the-door Price?

The out-the-door price refers to the final cost after factoring in all the additional fees. This is also more simply known as the actual price. The price listed on the car windshield is just the price of the vehicle itself. Additional fees include:

  • Registration and title fees
  • State taxes
  • Destination charge
  • Document fees

While it varies, expect the out-the-door price to be around 15% above the MSRP price.

2. What’s the Ideal Financing Duration?

The ideal loan duration depends on your budget and what you can afford to pay monthly. Typically, the shorter the loan period the better as it means paying a lower interest rate. Consider footing a higher down payment, about 20% of the car’s retail price and shoot for a loan duration of 48 months or less.

3. Does My Credit Score Qualify Me for a Loan?

Our finance department works with customers of all credit score backgrounds. You’ll most likely qualify for a loan even if you have a lower or no score. However, expect loan offers with higher interests and more stringent terms and conditions. Generally, a score of 660 and above is considered optimal for taking out a loan.

Drop by Folsom Lake Kia to see our inventory of models like the Kia Carnival and more. Our dealers will be more than happy to provide answers to additional financial inquiries you may have.