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If you’re looking to buy or lease a reliable and economical vehicle, Kia is a brand to consider. Kia makes some of the most popular cars on the road nowadays. Not only are they well-built and fuel-efficient, but they also offer affordable financing options. Learn how you can finance a Kia in Canada.


Key Points:

  • Several financing options are available to cover the cost of a Kia, including car loans from banks, credit unions, online lenders, and directly from Kia Financing.
  • Both car loans and personal loans are options you may consider to help you finance the purchase of a Kia.
  • Consider all costs associated with auto financing, as well as promotions available that can help cut the cost of your loan.

How To Finance Your Kia Through Kia Motors Finance (KMF)

If you’re looking to finance the purchase of a Kia, you can do so directly through the Kia website or a Kia dealership near you. Doing this can help you score promotions, such as lower rates on specific Kia models. 

Kia Motors Finance (KMF) currently offers two vehicle financing options:

KMF Financing

If you qualify, you can buy a new or used Kia through any licensed Kia dealer. KMF financing offers:

  • Loan terms from 24 to 60 months
  • Flexible financing options
  • Warranty protection options
  • Convenient purchase and financing process
  • Monthly discount offers

KMF Leasing

If you prefer to change your Kia every few years, leasing may be the way to go. KMF offers leasing up to 60 months and:

  • Lease terms up to 60 months
  • GAP insurance, which covers the difference between the amount you owe on the car and the amount your car insurance provides in the event of theft or accident.
  • Guaranteed Residual Value, which protects the value of your car at the end of the lease, despite market fluctuation.

Not only will you get to try the latest models, but the rates and plans are also often appealing during promotions. Be careful, as you may have a mileage limit or wear and tear policy to abide by.

Learn more: Leasing vs. Financing A Car


Do I Get A Warranty On My Kia?

When purchasing a dealership vehicle, remember to ask about the types of warranties you can get with it. Luckily, all new Kias come with top-notch warranties, including:

  • First-Year Adjustments: 1-year / 20,000 km
  • Comprehensive Warranty: 5-year /100,000 km
  • 24/7 Roadside Assistance: 5-year & unlimited km
  • Audio/DVD systems: 3-year / 60,000 km
  • Components for EVs and hybrids: 8-year / 150,000 km
  • Battery for EVs and hybrids: 8-year / 160,000 km

Other Ways To Finance A Kia In Canada

Aside from Kia Financing directly from the carmaker, other financing sources are available:

Can You Finance A Kia With A Car Loan From A Bank?

Your bank is a good place to go if you’re looking for security and low interest rates. As a client with good credit, you might be eligible for lower rates, flexible payment options and other perks. However, to qualify, you usually need good credit and strong finances.

You can generally get a bank car loan by requesting bank financing with a partnered dealership or by directly applying with the bank for a private party auto loan. Private party auto loans allow you to buy a used car from a private seller.

Can You Finance A Kia With A Car Loan From A Credit Union?

Many credit unions also offer car loans to qualified members. As a member of your local credit union, you may qualify for better rates and terms compared to banks, because profits are reinvested back into the union. Once you join, the approval requirements could be easier as well.

Can You Finance A Kia With An Private Car Loan?

Getting approved by a bank can be tough if you don’t have excellent credit, but there are also private car loan lenders you can access with bad credit. These online car loan lenders usually have easier requirements, and you won’t need good credit to qualify. While they tend to charge higher rates, they do offer terms as long as 96 months.

AmountInterestTerm (Months)
Loans Canada Logo - Bad Credit Loans Canada$500 - $50,000Up to 35%12 - 84Learn more
Clutch$7,500+Varies24 - 96Learn more
Canada Drives$500 - $35,000Starting at 29.99%9 - 60Learn more
SkyCap Financial$500 - $10,00012.99% - 34.99%9 - 60Learn more
Carloans411$5,000 - $40,000Varies12 - 72Learn more
Canada Auto Finance$5,000 - $45,0004.90 % - 29.95%36 - 72Learn more
Eden ParkVaries11.9% +12 - 84Learn more
Splash Auto Finance by RifcoUp to $50,000Varies12 - 84Learn more

Learn more: Best Car Loans In Canada


Can You Finance A Kia With A Personal Loan?

When financing a car, you can use a personal loan or a car loan, depending on your preferences.

  • Car Loans: Auto loans are designed specifically for vehicle purchases, using the car as collateral. Since the loan is secured, interest rates are typically lower than personal loans. A down payment is usually required, which can also help reduce monthly payments.
  • Personal Loans: For more flexibility, a personal loan may be an option. These loans can be used for various purposes, including buying a car. This may be a convenient option if you plan to buy a used car from a private seller. Personal loans are often unsecured, so there’s no collateral, which usually means interest rates are higher than car loans.

Documents Needed To Apply For Kia Financing

When applying for a car loan, there are certain documents you’ll need to provide to your lender to be considered for financing. This may include:

Personal DocumentsTo prove your identity and address, you may need to provide your driver’s license, passport, or any other government-issued photo ID.
Insurance DocumentsTo protect your car’s value from accidents, your lender may require you to have car insurance before they approve you. 
Financial DocumentsTo assess your finances, they may ask for your pay stubs, bank statements, tax returns and an employment letter.
Vehicle InformationYour lender will also need to know the details of your Kia vehicle in order to determine its value and ensure there’s no lien against it.
Credit InformationYour Kia lender may also request your permission to pull your credit report in order to assess your creditworthiness.

What’s The Average Price Of A Kia In Canada?

The average price of a new Kia in Canada varies a great deal depending on factors such as the model, trim and whether it’s new or used. For a new Kia, MSRPs can start as low as  $26,580 for a K4 and as high as $52,176 for a EV6. 

Learn more: What Is The Average Price Of A Car In Canada? 


How Much Does It Cost To Finance A Kia?

To understand what financing a Kia will cost you, it’s important to first understand all the factors that play a role in your auto financing:

  • Interest Rate: The interest rate you get will have one of the biggest impacts on your car loan cost. In general, the average car loan rate ranges around 7% – 8%, but it can be lower or higher depending on your financial profile.
  • Term Length: Car loan terms range between 12 to 96 months. Longer loan terms can keep monthly payments lower, but you’ll pay higher overall interest costs.
  • Fees: Additional costs may apply to your Kia financing, such as registration fees, vehicle delivery fees, and late fees for missing loan payments.

To give you a better idea of how much a new Kia costs, let’s illustrate using a few examples of different Kia models, with financing over a 5-year term.

Average Cost by Model Interest Rate Monthly Payment Total Cost
Kia K4 – $26,5802.99% APR$477.49$28,649.39
Kia Seltos – $28,4305.99% APR$549.50$32,969.96
Kia Niro – $33,526 3.99% APR$617.28$37,036.86
Kia Sorento – $41,830 4.99% APR$789.19$47,351.52
Kia Telluride – $53,830 6.99% APR$1,065.64$63,938.67

Note: This example does not include down payment, trade-in or sales taxes.

Sales Tax On Vehicle Purchases In Canada
Depending on the province or territory you purchase your Kia in, various sales taxes may apply, including GST, HST, and PST.In Canada, whether sales tax is charged and the tax rate applied depends on the province you’re buying in, whether you’re buying new or used, and whether you’re buying from a private seller or a car dealership.  
Learn more: Taxes On Cars In Canada: Dealership vs. Private Sale

Kia Finanacing Discount Programs In Canada

When you buy directly through Kia, you may have access to discount programs like the following:

  • $500 Grad Rebate – If you’re graduating from post-secondary studies within the next 8 months or have graduated in the last 2 years, Kia can offer you a $500 discount.
  • Military Benefit Program – Members of the Canadian Armed Forces (active, reserve or retired) are eligible for a $500 voucher to use on an approved Kia.
  • Mobility Assistance Grant – If you or any of your passengers have a disability, Kia’s $750 Mobility Assistance grant can help cover the cost of the purchase and installation of special equipment for your Kia.
  • Loyalty Rate Reduction Program – If you’re a regular customer and you currently lease or own a Kia that’s been registered and licensed within the last 180 days, you can receive a 1% discount on your interest rate when you get a new Kia.

0% Kia Financing Promotional Offers 

Every so often, car brands like Kia may offer 0% financing promotions to entice car buyers. This means there’s no interest charged on your car loan, which can translate into hundreds or thousands of dollars in interest savings over the loan term. Here are a few key factors to understand about 0% financing deals when they’re offered:

  • Restrictions on the model: Some dealers will only give away these kinds of promotions on the latest (often most expensive) models, or vehicles that they’re trying to clear out because they aren’t selling well. So, you’ll need to make sure the promotion applies to the exact Kia model you’re looking at buying.
  • Less loan flexibility: If you agree to a 0% financing promotion, your car price may not be negotiable because the dealer is trying to make a profit on the sale, despite the lack of interest or fees charged. So, any special arrangements, like early or lump-sum payments, may not be possible.
  • Only available to good credit borrowers: Dealerships typically only offer 0% car financing promotions to car buyers with excellent credit. To qualify for this type of financing, you must meet strict loan requirements.

Final Thoughts

Kia has become an increasingly popular car among Canadian car buyers, thanks to the brand’s lower price points, fuel efficiency, and reliability. If you’re looking to buy a Kia, make sure to do a lot of research beforehand. Shop around, compare prices, and look into the different financing options available to choose one that best suits your needs.


Kia Finance Canada FAQs

Can I buy a Kia online?

These days, most lenders and dealers offer ways to apply for car loans online, which is helpful when you’re shopping around and comparing prices. At the very least, some financing sources have a free pre-approval process, so you can see if you’ll qualify and what you could pay for your Kia. You can also use sites like Clutch to find and buy a used Kia entirely online.

What should my down payment be to finance a Kia?

Most auto experts recommend putting at least 10% to 20% of the car’s sales price down. While this could add up to a large amount, a down payment can significantly reduce the time you’re in debt and help you qualify for a lower interest rate.

What are the average interest rates to finance a Kia?

The rate you’re offered depends on your creditworthiness and where you buy your Kia. Right now, for instance, the average interest on a car in Canada is around 7% – 8%. You may also be able to get cheaper financing (like 0%) for a limited period on certain Kia models. Every lender and dealer has different rules, but you’ll generally qualify for better rates if you have good credit.

Can I get a bad credit car loan to finance my Kia?

Yes, it’s possible to get a car loan to finance your Kia with bad credit, but you’ll usually have to apply with an alternative lender or dealer that accepts bad credit borrowers. So, as long as you have a steady income and are willing to put up with higher interest rates, you may be able to finance your Kia through a bad credit lender.

Is it possible to refinance my car loan after purchasing a Kia?

Yes, you can refinance your Kia car loan after buying your vehicle. Refinancing involves taking out a new loan to replace your old one, which borrowers may do for several reasons. Although it depends on where you apply for financing, most lenders and Kia dealers will let you refinance your car loan if you have good credit or wish to adjust the conditions of your payment plan to make it more affordable.
Bryan Daly avatar on Loans Canada
Bryan Daly

Bryan is a graduate of Dawson College and Concordia University. He has been writing for Loans Canada for five years, covering all things related to personal finance, and aims to pursue the craft of professional writing for many years to come. In his spare time, he maintains a passion for editing, writing screenplays, staying fit, and travelling the world in search of the coolest sights our planet has to offer.

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