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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Kia Financing: What To Know in 2024

Updated on:
Content was accurate at the time of publication.

Kia has come a long way since its inception. In fact, it didn’t start off with cars — Kia was initially a bicycle manufacturer. Now famous for affordability, you can get behind the wheel of a brand-new Kia for less than $20,000. Still, most people will need a car loan.

Kia financing comes in many forms, and you can explore them here. If you already have an offer in hand, we can help you see if your monthly payments are on par with average numbers.

 Use our auto loan calculator to determine how much car you can afford.

Shopping for an auto loan before heading to the dealer can be a great way to snag a low rate. But once you have your offer, how do you know if it’s competitive? That’s where our study can help.

We analyzed data from Experian, Kelley Blue Book (KBB) and other sources to create hypothetical Kia buyers. Then, we estimated monthly payments for these buyers and sorted them by credit band. In the tables below, find the model and credit band that most closely aligns with your situation and see how your offer compares.

Note that these monthly payments are estimates based on the manufacturer’s suggested retail price (MSRP) for new Kias and fair purchase price for used. We did not factor in dealer fees, extended warranties or other related expenses.

Also, you might notice that some of our highest-credit borrowers pay the highest monthly payments. This isn’t because these borrowers have a higher interest rate. Rather, it’s due to the fact that Experian data shows that borrowers with higher credit scores tend to choose shorter loan terms.

Opting for a shorter loan term can be a good strategy if you’re looking to pay less overall interest. However, you may come out with a higher monthly payment since you’ll have fewer months to spread your loan across.

Learn more about how we calculated average monthly Kia payments.

Estimated average monthly payments for new Kias

ModelStarting MSRPMonthly payment (501-600 credit score)Monthly payment (601-660 credit score)Monthly payment (661-780 credit score)Monthly payment (781-850 credit score)
2024 Kia EV9$56,395$946.01$881.02$860.30921.30
2024 Kia Sportage$27,090$385.82$359.31350.86$375.74
2024 Kia Niro$26,840$381.04$354.86346.52$371.09
2024 Kia Soul$19,990$250.10$232.91$227.43$243.56
2024 Kia Sorento$33,365505.77$471.03$459.95$492.56

Estimated average monthly payments for used Kias

ModelFair purchase priceMonthly payment (501-600 credit score)Monthly payment (601-660 credit score)Monthly payment (661-780 credit score)Monthly payment (781-850 credit score)
2018 Kia Forte$10,665$158.55$137.19$123.09$122.79
2018 Kia Sportage$12,361$199.57$172.69$154.94$154.56
2018 Kia Niro$13,784$234.00$202.47$181.67$181.22
2018 Kia Soul$10,286$149.38$129.25$115.97$115.69
2018 Kia Sorento$13,726$232.59$201.26$180.58$180.13

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Choosing your auto lender might not be as exciting as taking a test drive, but it’s important nonetheless. Unless you refinance or pay off your car loan early, you could be stuck with your lender for several years. Here are a few options to consider:

 Kia Finance America


Best if...

You’re taking advantage of a special offer or buying your first car.

Many drivers get their car loans straight from their vehicle’s manufacturer. This is called captive financing. Kia’s financing arm is Kia Finance America, which is owned by Hyundai Motor Group.

Captive financing can be appealing for many reasons, one of which is Kia financing deals, also called special offers. Three of Kia’s most popular financing deals are lease offers, retail offers and special programs. Lease and retail offers are either a discounted monthly lease payment or a reduced annual percentage rate (APR).

Kia financing deals are model specific and vary by ZIP code. They also change throughout the year. The best way to see what deals may apply to you is to check Kia’s website or speak with an authorized Kia dealer.

Generally, you’ll need a credit score of at least 650 to qualify for Kia Finance America. However, exceptions may apply. Kia also considers other factors like your income and credit history. As is the case with other loans, the more creditworthy Kia finds you, the lower your APR will be.

You can apply with Kia Finance America on its website. If it approves you, you’ll get a preapproved car loan that’s good for 30 days. However, if your preferred Kia dealer doesn’t participate in the online application program, you’ll need to stop in to apply (or choose a participating dealer).

Other than Kia financing deals, Kia Finance America also offers:

First-Time Buyer Program

It can be hard to get a car loan with no credit history. That’s where Kia’s First-Time Buyer Program may help. If you have no credit and have never bought a car, Kia may waive its credit score requirement. Note there are other parameters to meet (such as a verifiable monthly income of at least $2,000).

Competitive Bonus program

You could get a rebate of up to $1,000 on your Kia if you own a car from a competitor. Speak with your dealer to see if your current vehicle qualifies.

Military Specialty Incentive Program

Active-duty, retired, honorably discharged and disabled veterans could be eligible for a cash bonus. This program also applies to eligible military spouses.

New car warranties

New Kias come with robust protection. Namely, a 10-year, 100,000-mile limited powertrain warranty and a five-year, 60,000-mile limited basic warranty. You’ll also get an anti-perforation warranty and roadside assistance for five years or 60,000 miles.

New Kias also have trip interruption coverage. With this, Kia may reimburse you for meals, lodging and other related expenses if you break down at least 150 miles away from home. Additionally, the repair must be warranty-related and take more than 24 hours to fix.

Certified pre-owned vehicles

Kia’s certified pre-owned vehicles undergo a 165-point inspection before they’re available for purchase. Once certified, these cars come with 24/7 roadside assistance and a 10-year, 100,000-mile limited powertrain warranty. For the first year (or 12,000 miles) you’ll also get platinum coverage.

 Bank and credit union auto loans


Best if...

You can get an APR discount or other car-buying benefits.

If captive financing isn’t your bag, you may want to check with your current financial institution. Banks and credit unions often give their members an APR discount for having multiple products under the same roof. In this case, it would be your bank account and your auto loan.

Take Bank of America auto loans, for example. Depending on how much money you have in your bank accounts, you could get between 0.25% and 0.50% off of your APR. PNC Bank auto loans have a similar deal — 0.25% off of your APR if you set up autopay with your PNC checking account.

Discounts aside, credit union auto loans generally come with ultra-competitive APRs. That’s because the federal government has capped credit union APRs to 18%. Many credit unions also provide car-buying services, which can help you snag a discounted MSRP as well as the credit union’s most competitive auto loan rates.

 Online auto loans


Best if...

You’d like to compare multiple offers, regardless of your credit score.

While not as popular as captive or bank financing (yet), you can also get an auto loan online. There’s a lot to like about online auto loans. For one, they’re generally easier to qualify for. If you have bad credit, shopping with online lenders could be fruitful.

Also, targeting online auto lenders helps make it easier to compare multiple loan offers. Comparing offers may be the most impactful way to find the loan with the lowest rate. Think about it — when you’re in the market for a big purchase, don’t you shop around? The same should go for securing a loan.

At LendingTree’s auto loan marketplace, you can compare up to five offers at once with just a few clicks. We’ll keep your information safe, and checking rates won’t impact your credit score.

 In-house financing


Best if...

You have bad credit and don’t qualify for a traditional auto loan.

In-house financing (also called “buy here, pay here”) is a type of auto loan you get straight from your dealership. This isn’t the same as allowing your dealer to set up manufacturer financing. Instead, the dealership itself will fund your loan.

The main appeal to in-house financing is its loose eligibility requirements. Some dealerships don’t even require a credit check. That might sound nice, but generally, the easier it is to qualify for a loan, the higher the rates. That rule applies to in-house financing.

Additionally, buy here, pay here car lots tend to stock older vehicles. An older model coupled with a high APR can be a quick way to stick yourself with an upside-down car loan. Leave in-house financing as a last resort (or better yet, leave it altogether).

To calculate average monthly Kia payments, we found estimated starting MSRPs for some of Kia’s most popular models.

Then, we subtracted an average down payment from each MSRP. According to Edmunds, the average down payment on a new vehicle was $6,907 in Q3 2023. For used vehicles, it was $4,111. The resulting figure represents the total amount our hypothetical borrowers financed.

From there, we used our auto loan calculator to figure out average monthly Kia payments, using average APRs and loan terms as reported by Experian’s State of the Automotive Finance Market Q3 2023. You’ll find this data in the tables below. Please note that loan terms were rounded to the nearest whole number during our calculations.

Sometimes, but it depends on Kia’s current financing offers. Offers vary by ZIP code, Kia dealership, vehicle year and model. However, at the time of this writing, many models carry 0.00% APR. This includes the 2023 Kia EV6 and 2023 Kia Niro EV.

Remember, though — financing offers are always changing, and Kia reserves 0% financing for “qualified buyers.” In other words, those with excellent credit.

Kia finance rates are always in flux (this is true for all types of car loans). Rate volatility is especially common in a turbulent economic environment. What’s more, Kia finance rates are specific to model, dealer and ZIP code.

That said, Kia’s current promotional starting interest rates span from 0.00% to 4.8% at the time of this writing, depending on the year and model.

Typically, Kia requires a credit score of at least 650 for financing. However, there are some exceptions. If you’re buying your first car and have no credit, you might qualify under the First-Time Buyer Program.

If your score isn’t up to snuff, it may still be worth speaking with a Kia dealer. You could also shift your focus to online auto loans since they are usually easier to qualify for.