When financing your Kia, you can either get a traditional loan from a bank or credit union or get a loan through the dealership with Kia Motors Finance. While getting a car loan from the dealership is convenient, you may end up saving money and experience better customer service with a bank or credit union.

Over the years, Kia has grown into a brand known for its high safety ratings, reliability, and low maintenance. When researching the market for a car loan, you want reassurance that your loan terms are similarly favorable.

It’s great to have so many financing options to choose from, but what’s your best auto loan option for a Kia? Car insurance broker app and lending expert Jerry is here to walk you through your options.

How to get a Kia car loan

Whether you’re searching for a pre-owned Forte or a pristine Sorento, getting an auto loan for a Kia is pretty simple. You’ll start by checking your credit score, then compare rates and terms from multiple lenders, and finally apply for loan preapproval.

Check your credit

Check your credit score before your search because it will factor into the interest rate and terms of your loan. A credit score of 660 and above is typically enough to qualify for an average car loan.

If your credit rating is under 660, you may still be eligible for a car loan, particularly if you decide to buy through a Kia dealership. Kia Motors Finance welcomes applicants who can demonstrate they’re able to make payments with income verification, a personal reference, or a co-applicant.

Take a look at the table below to see the average APR and monthly payment for various Kia vehicles depending on your credit score:

Credit Rating

Car Make	Average Annual Interest Rate	Average Monthly Payment

Compare lenders

Once you find out what type of loan you may qualify for, you will next choose a lender. You can request a loan through your bank, through a credit union, through an online auto lender, or via the dealership.

Before you settle on a loan, be sure to compare offers from three lenders or more. An ideal loan will look something like this:

Low APR: 4.93% or lower
Short loan term: 60 months at most
Manageable monthly payment: 10 to 15% of your monthly income at most

Don’t choose a loan based purely on the numbers, though! Customer service is also important. Just because they offer an affordable payment plan or great approval odds doesn’t mean a lender is the best choice. Be sure to check out reviews online to make sure you’re choosing a lender with a solid reputation.

Get preapproved

Getting preapproved for your car loan will help you negotiate better terms when you go to sign the loan agreement. Kia Motors Finance and many other lenders make this process easy by offering an online prequalification portal.

To complete the preapproval application, you will need to fill out the following information:

Social Security number
Driver’s license or another form of photo identification
Employment records
Proof of income (pay stubs, tax statement, etc.)

Key Takeaway To acquire a Kia car loan, you should first check your credit score. Next, compare lenders and try to get preapproved so you can negotiate better loan terms.

Average loan term for a Kia car loan

An important step to auto financing is picking your loan term length. The average car loan term in the United States today is 72 months, or six years. That doesn’t indicate, however, that it is the best loan term for you.

If you’re able, try to get a repayment term of no more than 60 months. With a shorter loan term, you will pay off your loan sooner and pay less interest. While you will have higher monthly payments, a short loan term means you’re paying less in the long run.

If you choose to go through a dealership for your loan, Kia Motors Finance will offer loan terms from 24 to 72 months. One huge advantage of getting your car loan through Kia is that you won’t have to worry about a prepayment penalty, which means that you can pay off the loan early without being charged additional fees.

To get an idea of what your monthly payment and interest rate might be depending on your loan term, see the table below.

Credit Rating

Loan Terms	Average Annual Interest Rate	Average Monthly Payment

MORE: How to get a car loan

Finding a Kia car loan in your state

Car loan details may differ depending on your state. Try to find a lender who understands the local market and can offer the lowest APR based on your credit score.

To see your possible loan payments for a Kia in your state, check out the table below.

Credit Rating	Average Annual Interest Rate	Average Monthly Payment

MORE: How to calculate total interest paid on a car loan

Kia car loans: new vs. used

The loan offers you can get for a new or used Kia will vary depending on your car’s age. For example, Kia Motors Finance exclusively approves loans for new and certified pre-owned vehicles that are five years old or newer.

If you need a car loan for a Kia older than five years, you may have better luck going through a bank or a credit union. Note that the APR for used cars is typically higher, but the loan total will probably be smaller, making paying a higher interest rate more doable.

Eager to know how your car’s age can influence your loan? Here’s what your monthly payment and APR could be based on your new Kia’s model year.

State

Car Year	Average Annual Interest Rate	Average Monthly Payment

MORE: What to look for when buying a used car: From hood to trunk

How to calculate the costs for a Kia car loan

Regardless of the details revolving around your Kia, your monthly payment and APR will be calculated using your credit score, loan term, loan amount, and geographic location. Try out Jerry’s car loan calculator to see what you might pay for a Kia car loan.

State

Credit Rating

Loan Terms

Loan Amount

Average Annual Interest Rate	Average Monthly Payment

Save money on Kia insurance with Jerry

However you choose to finance your Kia, you can always find the cheapest car insurance rate with Jerry. As a licensed broker and car insurance comparison super app, Jerry will guide you through the maze of insurance options so that you can make the best decisions during the car-buying process.

After downloading the Jerry app, just enter your information and Jerry will get to work comparing quotes from over 50 name-brand insurance providers. Once you’ve picked your favorite, Jerry will handle the process of switching you over, including canceling your old policy.

The average Jerry user saves $887 on car insurance per year. That’s a nice chunk of change you can put toward your new Kia!

RECOMMENDED