The lowdown on Kia finance options in Australia

From the stylish and tech-savvy Sportage to the adventurous and rugged Seltos, Kia has become a top choice for Australian car buyers. According to industry reports, Kia has steadily gained popularity and is known for offering value-packed vehicles with a modern twist.

If you're eyeing a Kia but need a hand with financing, it's crucial to explore the various finance options available to make your new ride a reality.

Kia finance options: What's available to buy a Kia?

If you want to buy a new or used Kia, these are your Kia finance options.

• Kia secured car loan. By using your Kia as security against your car loan, you can typically land a more favourable interest rate. Why? Because the lender can reclaim your Kia if you breach your loan agreement. This offsets some of the risks for them. Interest rates for these loans range from 4.05% to 10.97%. Secured car loans are available from $1,000 to $250,000, depending on the finance company. Loan terms last 1 to 7 years.
• Kia unsecured car loan. An unsecured car loan means the Kia won't be held as collateral against the car loan. The benefits of this are that you're less restricted with the age and model of Kia you're buying. There are fewer conditions attached to how you spend the money. However, the interest rates are typically higher for these kinds of loans, ranging from 5.45% to 38.01%. You can get fixed or variable rate unsecured loans.
• Kia lease. Self-employed persons and business owners might go with this option, which allows them to purchase a Kia for commercial use. The lender buys a Kia on your behalf and you make lease payments until the end of the agreement.
• Kia commercial hire purchase. This is an option for businesses who hire a Kia from the financier for a fixed monthly repayment over an agreed-upon term. You also have the option to purchase the Kia at the end of your hire term.
• Kia novated lease. This is a method of salary packaging a Kia. It means you can lease a Kia and your employer pays the lease repayments from your pre-tax income. A novated lease may be a tax-effective way of purchasing a Kia.
• Kia dealer finance. Dealership finance is attractive because the salesperson will fill out all the paperwork for you. It might carry a deposit or residual/balloon payment that needs to be paid, which could be tens of thousands of dollars.

What should you look for in a Kia finance option?

There are a variety of finance related things to think about before you cruise away in your Kia, such as:

• Is the interest rate competitive? Are there any application or service fees? You need to compare Kia finance options. Going for a loan with a high-interest rate and application fee could mean you spend hundreds (or thousands) of dollars more over the length of the loan, depending on how much you borrow. Also, going for a Kia loan without any service fees can help you save more.
• What is my budget? It's important to understand how much you can spend before picking your ideal car. Kia vehicles can range from around $20,690 for the smaller Kia Picanto to up to $82,325+ for the top of the range Hybrid Carnival (these models are currently on offer in August 2024). You can use a car loan repayment calculator to see how much your repayments will be for your chosen finance options.
• What kind of Kia do I want? Kia has a huge range of cars to choose from. The exact Kia model that will be right for you will come down to what you need the car for – family use, daily driver, dog transporter, for example – and your budget. Kia offers small cars like the Kia Picanto, as well as several SUVs like the Sportage and sedans such as the Stinger.
• What kind of features do I want/need? Kia vehicles come with a range of features including smartphone connectivity, heated and ventilated seats, Autonomous Emergency Braking (AEB) and large infotainment screens. If you're looking for something specific, be sure the vehicle has it.

Kia finance option costs to consider

Here are some costs for you to consider before applying for a Kia finance option:

• The finance charges. Check for upfront fees such as application or establishment fees and ongoing charges such as monthly or annual fees. You should also check if you will be charged penalties for repaying your loan early or making extra repayments.
• Upkeep of the Kia. Paying for fuel, servicing, maintenance and running your car can be expensive. Kia offers a 7-year unlimited-kilometre warranty, so this is something to take advantage of if you're worried about future repair costs.
• Registration and insurance. Now that you're on the road, you have to pay for the privilege. This includes the cost of registration, and insurance to protect yourself as well as others in case of a road-related bingle or theft.

What you will need to apply for a Kia finance option

You will need the following to apply for a car loan:

• Financial statements. Acceptable documents typically include 3 months' worth of payslips, your last tax return statement or an accurate assessment of your current assets and liabilities situation.
• Identification. This could be your driver's licence, your Medicare card, your birth certificate or your passport.
• A stable income. Most lenders won't let you borrow money from them without evidence that you have a reliable income.
• Assets and debts. You will need documents to show your current assets as well as your current debts.

Car loans suitable for financing a Kia

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
Simplify New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.19% to 18%	Comp. Rate (p.a.) 6.6% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $622.21	Go to siteMore Info Compare
loans.com.au - New - Variable Rate Special Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.24% to 7.74%	Comp. Rate (p.a.) 7.36% to 8.85%	Application Fee $400	Monthly Fee $8	Monthly Repayment $630.83	Go to siteMore Info Compare
Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $625.27	Go to siteMore Info Compare	You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with. Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
OurMoneyMarket New Car Loan Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment $622.82	Go to siteMore Info Compare
IMB New Car Loan Fixed1 - 7 Years $2,000 - $125,000	Interest Rate (p.a.) 6.24%	Comp. Rate (p.a.) 6.59%	Application Fee $274.78	Monthly Fee $0	Monthly Repayment $619.01	Go to siteMore Info Compare	You'll receive a fixed rate of 6.24% p.a. A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
RACV New Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.29% to 16.99%	Comp. Rate (p.a.) 8% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $635.67	Go to siteMore Info Compare	You'll receive a fixed rate from 7.29% p.a. A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
OurMoneyMarket Used Car Loan - No Vehicle Age Limit Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment $622.82	Go to siteMore Info Compare
Simplify Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.19% to 18%	Comp. Rate (p.a.) 6.6% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $622.21	Go to siteMore Info Compare
Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $625.27	Go to siteMore Info Compare	You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a. A used car loan of up to $300,000 with quick approval times and balloon payment options.
loans.com.au - Variable Rate Used Car < 5 years Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.74% to 7.74%	Comp. Rate (p.a.) 8.85% to 8.99%	Application Fee $400	Monthly Fee $8	Monthly Repayment $644.82	Go to siteMore Info Compare
RACV Used Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 8.49% to 16.99%	Comp. Rate (p.a.) 9.21% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $647.01	Go to siteMore Info Compare	You'll receive a fixed rate from 8.49% p.a. Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.

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Written by

Elizabeth Barry

Lead Editor

Elizabeth Barry was the lead editor for Finder. She has over 10 years' experience writing about a range of topics with a focus on personal finance. You’ll find her writing and commentary in a range of publications and media including Seven News, the ABC, MSN, the Irish Times and Singapore Business Review. See full bio

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