Price paid for your Kia Niro - Page 27 - Kia Niro Forum
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post #261 of 269 (permalink) Old 04-04-2019, 11:37 PM
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Great questions, I'm at the same point as you are wondering about KMF, rebates, interest rates.
What did they say in the lowest interest rate available in April?
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post #262 of 269 (permalink) Old 04-05-2019, 12:13 AM
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Originally Posted by jamesbond View Post
Good evening,
I am being told that Kia financing is offering a 'KMF Dealer Choice Bonus Cash Program (506) which offers a rebate of $1750'

Does anyone have additional information or experience with this program?

For example, how much is the minimum I need to finance, one dealer told me its $7,500, but has nothing to show on paper.

Also, how soon can it be paid off, I do not really want to finance, but am considering it because of the rebate and want to pay it off asap.

I have asked the dealers about it, and they don't have anything to show, but insist that it can be paid off within 1 month (some dealers say this) or 3 months.

Thank you

I gave my dealer a cash offer, and they came back with a similar proposal. They explained that they make money on the financing (and I've subsequently learned that if you sign up for financing and you aren't careful, they will also be charging you for "gap insurance", which they probably also make money on). My recollection suggests that the 7.500 part is consistent with what I was told, and I think I was also told that I could pay it off in entirety after six months with no penalty if I wanted to do that.



I contemplated going along with that for a day or two, because my offer was less than MSRP and I'd already fought and lost a negotiation with a different dealer, so I was feeling a little worn down, and I also was cognizant that the salesperson I was working with had to make a living, and there were a lot of places where the dealership would subtract from the sale price before the salesperson's commission was calculated.


But then I thought: hey: I started planning for this day years ago, and I managed to squirrel up enough savings over the years that I could finally pay cash for a new car, so why should I subject myself to unnecessary financing, liens, additional paperwork about who actually owns the title, and all the rest. It seems like I shouldn't have to deal with all of those headaches if I'm actually able to pay cash. So I told my salesperson that I didn't want to do their financing.


It took about a week or maybe two of swapping e-mails, but eventually the dealer agreed to the original offer I had made, all cash, no Kia financing, no lien, title in my name, etc. I found some additional fortitude in the interim by reaching out to a slightly more distant dealer and asking if they might be interested in the terms I had offered to the first dealer. They were reluctant at first, but eventually agreed, and that gave me more confidence when negotiating with the first dealer.


I recall that the night I signed all the paperwork and picked up the car: there were a lot of smiling faces on the other side of the table. Even though they didn't get the kickback on the financing or other add-ons, in the end they were still happy to sell to me at a price that, while less than MSRP, evidently felt reasonable to them.


Hope this info helps. Every deal is different. I also burned through two other Kia dealers that wouldn't give my offer the time of day, so your mileage may vary.

2018 Niro PHEV Gravity Blue
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post #263 of 269 (permalink) Old 04-07-2019, 01:25 AM
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Originally Posted by jamesbond View Post


Also, how soon can it be paid off, I do not really want to finance, but am considering it because of the rebate and want to pay it off asap.

I have asked the dealers about it, and they don't have anything to show, but insist that it can be paid off within 1 month (some dealers say this) or 3 months.

I did the dealer financing to get $500 off. There was a $75 fee if you pay it off before a certain number of months (might be 6 months). I figured the fee and the 1 month of interest I would pay was less than the $500 so worth it for me. You're getting a ton more off so the $75 fee will be even less of a consideration.
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post #264 of 269 (permalink) Old 04-07-2019, 01:40 AM
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I did the dealer financing to get $500 off. There was a $75 fee if you pay it off before a certain number of months (might be 6 months). I figured the fee and the 1 month of interest I would pay was less than the $500 so worth it for me. You're getting a ton more off so the $75 fee will be even less of a consideration.
IT looks to me like the April 2019 offer is 0.9% for 4 yrs OR $500 cash but that they can't be combined. Am I missing something?
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post #265 of 269 (permalink) Old 04-07-2019, 06:04 PM
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IT looks to me like the April 2019 offer is 0.9% for 4 yrs OR $500 cash but that they can't be combined. Am I missing something?
My purchase was in Feb. I got 2.9% interest rate and $500 off purchase with the financing. Still saved me money after paying interest for 1 month and the $75 early payoff fee.
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post #266 of 269 (permalink) Old 04-07-2019, 09:43 PM
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Good evening,

These are the rates I was quoted for customers with excellent credit. These are not specific to me, just rates I received via email from my contact at the Kia dealership:

Here are the terms/rates for the K506 Program based on excellent credit:

24-48 months- 2.9%
49-60 months- 3.9%
61-66 months- 4.9%
67-72 months- 5.9%
73-75 months- 6.25%

I am leaning towards the cash option, if they can give a good price, just so I do not have to deal with additional paperwork, re titling when the loan is paid off etc.

If the dealers cannot offer a competitive cash price, I may consider a non Hybrid from Hyundai...the Kona. It's cheaper and my approximate gas savings for the Hybrid may only break even in 5+ years compared to the Kona.

Thank you
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post #267 of 269 (permalink) Old 04-28-2019, 02:17 AM
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I paid $30,400 after 1750 Rebate. (2019 Touring Snow white) Not sure if it has something to do with Credit Score, or Being a First time Kia owner.
But I took this gift, even though I will refinance the minute I get my first bill.

Fast, Isn't Fast,, Smooth, Is Fast..
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post #268 of 269 (permalink) Old 05-04-2019, 12:18 PM
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Paid $30600 for PHEV EX in Gravity Blue, which included a $500 rebate with 1.9% Kia financing.
OTD price was $33600
I live in LA county.
Not a good buying experience and I will not refer the dealership.
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post #269 of 269 (permalink) Old 05-14-2019, 09:15 AM
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Just leased a '19 EX Premium PHEV for just under $32k. Don't have the paperwork in front of me, so can't be precise. But I was out the door with only $1000 out of pocket, and I was underwater with my trade by a couple thousand, so overall I'm satisfied. Don't forget on a lease they get the federal tax credit, not me, so that's what made the price so low.

Dan
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