Lending Partner
Loan Term
Min. APR
Min. Credit Score
Highlights
Used Car Loan
Loan Term24-84Months
APR2.64%
Credit Score575
Highlights
Refinance Loan
Loan Term36-72Months
APRVaries
Credit Score580
Highlights
Refinance Loan
Loan Term36-72Months
APR2.91%
Credit Score640
Highlights
Loan TermUp to 84Months
APR3.20%
Credit Score580
Highlights
Used Car Loan
Loan TermUp to 72Months
APRVaries
Credit Score500
Highlights
Refinance Loan
Loan Term48-84Months
APR3.49%
Credit Score550
Highlights
Refinance Loan
Loan Term24-84Months
APR5.34%
Credit Score640
Highlights
Refinance Loan
Loan TermUp to 84Months
APR2.49%
Credit Score500
Highlights
Refinance Loan
Loan Term36-84Months
APR1.99%
Credit Score560
Highlights
New Car Loan
Loan Term24-84Months
APR2.39%
Credit Score575
Highlights
Refinance Loan
Loan TermUp to 84Months
APR2.94%
Credit Score600
Highlights
Refinance Loan
Loan Term24-84Months
APR2.20%
Credit Score510
Highlights
All APR figures last updated on 3/3/2023 - please check partner site for latest details. Rate may vary based on credit score, credit history and loan term.
Kia Finance
ProsLow interest rates for borrowers with high credit scoresConvenience of buying and financing a new or used car or lease in the same placeStrong industry scores from J.D. Power for overall customer satisfaction
ConsKia financing offers are only good at its dealershipsAnnual percentage rates (APRs) and other special offers change frequently
Kia Finance America, formerly Kia Motors Finance, is the lending division of the automaker. The company offers finance options for new and used Kia vehicles and lease agreements. You can apply for financing online through the Kia website or visit your nearest dealership to find the loan and lease terms you may qualify for through Kia finance.
We at the Guides Auto Team will explain the Kia finance options available to you, including loan and lease terms. We’ll also discuss what you can expect from the application process for a Kia loan or lease and what other providers you should consider for the best auto loan rates.
Why Trust Our TeamThe Guides Auto Team is committed to providing reliable information to help you make the best possible decision about financing for your vehicle. Our researchers, writers and editors are dedicated to investigating providers and analyzing customer feedback and insights so you can choose with confidence.
24Companies Reviewed
950Reviews Analyzed
295 Research Hours
About Kia
Year founded: 1944
Headquarters: Irvine, Calif.
Better Business Bureau (BBB) rating: NR
Kia Corp. was founded in May 1944, when it began manufacturing bicycles and motorcycles in South Korea. Since then, the company has expanded worldwide, producing more than 1.4 million vehicles each year at 14 manufacturing sites across eight countries. The corporation sells SUVs, hybrid and electric cars and sedans.
Our research shows Kia Motors has average industry ratings. It holds an F rating from the BBB and is not accredited by the organization.
How Kia financing works
Kia finance provides car loans for its new, used and certified pre-owned (CPO) vehicles and lease options for new Kia vehicles. The manufacturer doesn’t offer auto refinancing. If you get financing approval from Kia, you can only use the loan at a Kia dealership.
Buying a Kia
Kia auto loans can be used to purchase new, used and CPO Kia vehicles. During our research, we found that the manufacturer changes APRs frequently and often offers incentives for new cars. Borrowers may receive auto loan rates around 3.49% APR for some Kia models. Loan terms typically range up to 75 months.
Our research found that Kia tends to approve borrowers who have credit scores between 650 and 850. If your score is lower, you may have difficulty receiving lower interest rates or qualifying for financing.
| Loan Amount Range | Not listed |
|---|---|
| APR | Starting at 3.49% for some models* |
| Loan Term Length | Up to 75 months |
| Prepayment Penalty | None |
| Application Fee | None |
*Rate range as of 10/5/22.
Insurance requirements for financed Kia vehicles
Vehicles financed through Kia must maintain the minimum insurance coverage required by state law. Your deductible for comprehensive and collision insurance policies must be $1,000 or less. Additionally, the “loss payee” on your insurance policy must be Kia Finance America.
Leasing a Kia
Kia offers lease terms lasting between 24 and 48 months. Drivers who lease Kias can choose from a range of annual mileage limits:
- 10,000 miles
- 12,000 miles
- 15,000 miles
- 18,000 miles
- 20,000 miles
- 25,000 miles
Our experts used Kia’s payment calculator to find out how much a lease could cost per month. The table below shows examples for different Kia models, lease terms and estimated monthly payments, which were calculated with a $2,000 down payment and a 720 credit score.
| Kia Model | Lease Term | Estimated Monthly Payment* |
|---|---|---|
| 2023 Kia Soul LX | 36 months/12,000 miles per year | $239 |
| 2023 Kia Forte LXS | 36 months/12,000 miles per year | $229 |
| 2022 Kia Rio S | 36 months/12,000 miles per year | $283 |
| 2023 Kia Sportage LX | 36 months/12,000 miles per year | $279 |
| 2023 Kia Sorento LX | 36 months/12,000 miles per year | $319 |
*Rates as of 10/5/22.
Every lease through Kia Finance America comes with guaranteed asset protection (GAP) insurance. It covers the difference between the balance you owe on the vehicle financing and the amount your insurance carrier pays out after a total loss.
Once your lease term is up, you can choose to purchase or lease a new vehicle, purchase your current vehicle or simply return your leased vehicle to the dealership.
Who is eligible for Kia financing?
To qualify for Kia financing, you generally need to have a credit score between 650 and 850. If your credit score is lower than this, you may still have options, including adding a co-signer or accepting a higher interest rate.
You’ll need the following information to apply for Kia financing:
- Name, phone number and email address
- Housing information (including your housing status, time at your current address and monthly mortgage or rent payment)
- Employment status and income information
- Social Security number
Kia finance application process
Kia’s online application for auto loans and leases can be completed in a few easy steps. We’ve outlined the application process for Kia finance below:
- Choose your Kia: When you first visit the Kia Finance America website, you’ll have the option to use the manufacturer’s payment calculator. Find the model that’s right for you, and enter your ZIP code to find up-to-date cost information near you.
- Apply for credit: Once you find the vehicle you want to finance or lease, you must complete a credit application. You’ll need to provide basic information about yourself, your income and your employment history. After submitting your information, you’ll receive a credit decision within minutes. If approved, you’ll receive an approval certificate valid for 30 days.
- Visit the dealership: Your last step is to visit the dealership you selected during your credit application process. There, you’ll get help to finalize your application details and pick your new Kia up.
In some cases, Kia Finance America and the dealer you select to apply for credit through may need more information to finalize a decision. You’ll receive further instructions if either needs more documents or information.
Kia reviews
Kia reviews are average within the auto finance industry. Since Kia Finance America doesn’t have its own BBB page or customer reviews, we’ll look at the manufacturer’s BBB page. The automaker is not rated, but holds an average rating of 1.1 out of 5.0 stars from over 270 customer reviews. Similarly, Kia has an average rating of 1.7 out of 5.0 stars on Trustpilot, based on over 60 reviews.
While reviews from the BBB and Trustpilot may seem negative, the number of reviews is a tiny fraction of the company’s overall business. This is important to keep in mind for any large company.
Additionally, Kia Finance America ranked well in the J.D. Power 2021 U.S. Consumer Financing Satisfaction StudySM. It received 852 points out of a possible 1,000, placing just above the segment average of 845.
Our team reached out to Kia for a comment on its scores and negative reviews but did not receive a response.
Positive Kia reviews
On Trustpilot, 34% of customer reviews for Kia rate the company as “Excellent” or “Great.” Positive Kia reviews mention excellent customer service at local dealerships and overall satisfaction with car purchases.
Negative Kia reviews
On the other hand, over 95% of customer reviews on the BBB give the company a 1.0-star rating. Common complaints include issues with car loan and lease payments, consistent problems with components being covered under factory warranty and the company not completing important safety recalls.
Bottom line on Kia finance
Kia finance is a good option for drivers who want to purchase or lease cars through the manufacturer. During our research, we found that drivers with high credit scores could qualify for low interest rates for several vehicle models. The company also offers flexibility with auto loan and lease term limits.
However, Kia isn’t a good option for all drivers, as it generally doesn’t work with borrowers who have low credit scores. The automaker also has an average industry standing, with low scores from the BBB and Trustpilot.
Recommendations for auto loans
It’s always a good idea to shop around for the best auto loan rates before committing to a dealership or financial institution. We recommend reaching out to Auto Approve if you’re looking to refinance your current auto loan and myAutoloan if you’re trying to finance a new car loan.
Auto Approve: Top Choice for Refinancing
In our review of the best auto loan rates of 2022, we recognize Auto Approve as the top choice for refinancing auto loans due to its industry reputation. The company’s rates start at 2.94% APR for refinancing, though only borrowers with high credit scores will qualify for lower rates. Auto Approve also offers a car lease buyout option, making it a viable choice for drivers looking to purchase their leased vehicles.
Auto Approve has a strong reputation among financial institutions in the industry. The company has an A+ rating from the BBB and is accredited by the organization. Customers also give Auto Approve high ratings on the BBB’s site, with an average of nearly 4.4 stars out of 5.0. The same is true for Trustpilot, where customers rate it 4.7 out of 5.0 stars on average.
Read more: Auto Approve review
myAutoloan: Most Popular Marketplace
The myAutoloan marketplace allows you to comparison shop for auto loan rates for new and used cars, refinance rates, private party rates and lease buyouts. You can enter your personal information in its online form and receive loan offers from lenders almost immediately. Our research shows that myAutoloan offers low APRs, with auto loan rates for new cars starting as low as 3.99%.
In the financing industry, myAutoloan has a solid reputation. It holds an A+ rating from the BBB and is accredited by the organization. Overall, customers rate myAutoloan favorably on Trustpilot, giving it an average rating of 4.2 out of 5.0 stars.
Read more: myAutoloan review
Frequently Asked Questions
Our methodology
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best extended car warranty companies. We collected data on dozens of auto warranty providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the companies that scored the most points topping the list.
Here are the factors our ratings take into account:
- Reputation (25% of total score): Our research team considered ratings from industry experts and each lender’s years in business when giving this score.
- Rates (25% of total score): Auto loan providers with low APRs and high loan amounts scored highest in this category.
- Availability (25% of total score): Companies that cover a variety of circumstances are more likely to meet consumer needs.
- Customer Experience (25% of total score): This score is based on customer satisfaction ratings and transparency. We also considered the responsiveness and helpfulness of each lender’s customer service team.
*Data accurate at time of publication.