Are you searching the market for a new car? If so, you may be curious about the various financing options and pathways. While financing can seem like a complex task, our Kia finance department streamlines and simplifies the process. Learn what options you have when you step foot in Folsom Lake Kia.
Captive Finance Loans
Most automakers, the Kia brand included, have partnerships with various lending institutions, and these are the loans our dealers can pair you with. These are known as captive finance loans and account for about two-thirds of all loans provided by the dealership.
Our financing department can find a captive finance lender appropriate for your credit score and type of purchase.
Aside from captive finance lenders, the dealership also works with other lending institutions like banks and credit unions. The dealership essentially acts as the middle-man between you and the lender.
Loans from the bank or credit union have their own terms and conditions completely separate from the automaker and dealership.
Paying in Full
You always have the option of paying for the car in full up front if you have enough money saved. This will certainly save you in interest fees. If you go this route, then we recommend using a cashier’s check.
After all, it’s not realistic footing the entire cost with a briefcase full of cash. Be sure you have enough to pay not just for the car but also additional fees like taxes, registration fees, etc.
Whether you’re interested in a model like the Kia Forte or Kia Niro, we have diverse financing options available that’s fitting for your specific budget. Just keep in mind that a higher credit score will make you eligible for more diverse lending options.