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Kia Motors

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bigpoppa09
Established Contributor

Kia Motors

Has anyone used Kia Finanancing lately they have some good promotions going who do they pull is it straight Fico or Auto Enhanced?

Message 1 of 10
9 REPLIES 9
RonM21
Valued Contributor

Re: Kia Motors

I know from reading some threads that it seems to mostly be transunion but I'm not sure what type.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 2 of 10
Anonymous
Not applicable

Re: Kia Motors

My wife financed a new Kia optima about a year and a half ago. I'm almost positive they use the auto enhanced. Her fico 08 scores were all in the 560-590 range due to medical collections. But her auto enhanced versions were much higher IIRC due to perfect auto credit history.

Her original loan amount was for $23k give or take after trade. The car we got for $19k with dealer incentives and she was around $5k in negative equity, and placed a $1k deposit.

Loan was $23k
Interest was 9.9%
Payment is around $430 per month.
Message 3 of 10
6speed8
Regular Contributor

Re: Kia Motors

I just got my 2015 Hyundai Sonata 6 weeks ago. Hyundai Capital but I just got copies of all 3 credit reports for my lawyer - doing a 1 year discharge follow up to make sure everything is gone. It shows as Kia Finance on one of the reports. I figured they're one and the same anyway. I had a $6000 down payment. Factory and "Hyundai financial" rebates totalled $4500 so it was a $10,500 down payment. No gap required since that's a big down payment. Gave me 4.9% and financing a total of $21,000 with interest where Capital One only pre-approved me for $16,800 total and would have been 3.9%. But had "Hyundai" not approved me, I'd have had to go for a lesser car but the payment would have probably been the same. I would have needed a $10,000 down payment all on my own to get the same car with Cap One. Experian was reading 650 on the fako-app but I assume my "auto-FICO" was higher than that. Discharged last June and my only debt was $4000 on credit cards so debt-to-income probably played a major factor also.

CH 7 Discharged 6/10/15
T/U - 643
EQ - 588
Ex - 647 as of 6/14/15
Message 4 of 10
Anonymous
Not applicable

Re: Kia Motors

I just purchased a 2016 Kia Soul a few hours ago.  They pulled TU for me and hubby.  I was primary since my scores are better.  1.9 for 72 months which is better than the 9.9 that I was paying on my 2014 Town and Country that I traded in. Also no payments until Oct!  

Message 5 of 10
whatdebt2014
New Member

Re: Kia Motors

Hi @lookingforhelp34

 

I'm currently car shopping and will be getting an Optima... with Kia's current promotion they will pay the first 2 months and then defer 3 months... do you know if there are any fees assosciated with the 3 month payment deferral? Thanks in advance... 

Message 6 of 10
Anonymous
Not applicable

Re: Kia Motors


@whatdebt2014 wrote:

@Anonymous @Anonymous

 

I'm currently car shopping and will be getting an Optima... with Kia's current promotion they will pay the first 2 months and then defer 3 months... do you know if there are any fees assosciated with the 3 month payment deferral? Thanks in advance... 


They didn't mention any and there wasn't anything in the paperwork I signed.  

Message 7 of 10
surferchris
Valued Contributor

Re: Kia Motors


@Anonymous wrote:

I just purchased a 2016 Kia Soul a few hours ago.  They pulled TU for me and hubby.  I was primary since my scores are better.  1.9 for 72 months which is better than the 9.9 that I was paying on my 2014 Town and Country that I traded in. Also no payments until Oct!  


Thanks for the information, I am considering a Kia Soul EV in the next few weeks,

Current Cards:
AmEx Hilton Honors Surpass//AmEx Platinum Card//Ann Taylor Rewards Mastercard//Capital One Platinum Card//Credit One AmEx//Credit One Platinum VISA//Fingerhut//Navy More Rewards AmEx//TruWest Platinum VISA//Aspire VISA//Costco Anywhere VISA//Lowes Advantage//Apple Card
Loans:
1 Mortgage/////Navy FCU Auto Loan (2020 Jaguar I-Pace)//Capital One Auto (2016 BMW i3)
Next Cards (4th QTR 2022):
Navy Flagship Rewards VISA//Chase Sapphire Preferred
Stats:
Scores: 700's // Inq's: 1 for mortgage // Util: 1% // AoOA: 21 yrs

Message 8 of 10
GalaxyStars
Regular Contributor

Re: Kia Motors

 
Message 9 of 10
Anonymous
Not applicable

Re: Kia Motors

Deferred payments still mean that interest will accrue during the time period so your first couple of payments might all go to interest.
Message 10 of 10
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