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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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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.
 

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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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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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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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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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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.
 

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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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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.
 

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I ended up in a 19 EX Premium PHEV lease for right about 31k out the door, including all taxes and fees, plus another 1275 left to pay off on my trade in. Probably would have been about the same to buy it after factoring in the tax rebate, but I did not want to fool with it. and would not have been much better off, if at all.
 

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I ended up in a 19 EX Premium PHEV lease for right about 31k out the door, including all taxes and fees, plus another 1275 left to pay off on my trade in. Probably would have been about the same to buy it after factoring in the tax rebate, but I did not want to fool with it. and would not have been much better off, if at all.
That's right about what I was able to get, but it took a long negotiation. I was ready to walk when they came back with a monthly lease that was $50 less than their "best" offer. I too was a little underwater with my trade, but since it never appeared on their web site for sale, my guess is they sold it quickly for a profit. Worked fine for me, as my monthly gas bill has dropped to almost nothing, and my electricity usage increase is almost unnoticeable. :D
 

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I ended up in a 19 EX Premium PHEV lease for right about 31k out the door, including all taxes and fees, plus another 1275 left to pay off on my trade in. Probably would have been about the same to buy it after factoring in the tax rebate, but I did not want to fool with it. and would not have been much better off, if at all.
And you don't have to wait until next year to file your taxes to get the credit back. With the lease cash, they're taking the tax credit right off the price of the car at the beginning. That's a great way to take advantage of the tax credit especially if you don't have the tax liability to take it anyway.
 

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@TheSilverFlash. You don't have to wait until next year to get the full federal credit. Just stop withholding your taxes and you'll start getting the credit one paycheck at a time until EOY.

The Niro PHEV seems to be holding it's value fairly well, so if you purchase, you still have an asset after 3 years that you can sell. So it really depends on whether you've paid more for the lease after 3 years vs how much the Niro's worth after 3 years if you buy. Only you know the terms and total cost of the lease (unless you share full details), so it's unknown to say leasing was a better choice IMO.
 

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@TheSilverFlash. You don't have to wait until next year to get the full federal credit. Just stop withholding your taxes and you'll start getting the credit one paycheck at a time until EOY.
I would encourage anyone to consult with a tax professional before stopping withholding. That seems like reckless advice.
 

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Changing the number of exemptions midyear is legal. If you go too far and have to pay a large amount of taxes at the end of the year, there can be penalties and/or interest due on top of back taxes. Most people enjoy their large tax refunds and are happy to give the government the float (not much in this era of low interest rates) so this is a fringe activity anyway.
 

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SilverFlash—I'd encourage you to consult with a tax professional before considering it reckless :D.

At the moment of purchase, your tax liability drops $7500 in the same way that one would modify withholdings if you had twins and expected to claim $4000 in child credits. Do you see my point there? IMO, it's reckless to wait a year to claim money that was yours to begin with.

I've claimed the federal EV credit 4 times already, and will be claiming a 5th for 2019. Each time I've modified my withholding early in the year to reduce/prevent getting any money back after filing.
 

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I just got a quote from a dealer for a 2019 PHEV EX for $30,234 dealer price/$32,752 out the door. How is that matching up to everyone else's purchases?
 

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$30234 is a good price for a PHEV EX. Watch out for the add on's and the other BS that they will throw at you. If in So Cal, avoid Kia of Irvine.
 

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$30234 is a good price for a PHEV EX. Watch out for the add on's and the other BS that they will throw at you. If in So Cal, avoid Kia of Irvine.
Thanks Dougie! I'm in Massachusetts. We already had one way overly aggressively dealer. We're working with one two states away now.
 
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