Any reason to not use kia finance to get $750 discount

[CAMSDADDY]

My wife and I will be purchasing a new KIA soon. We have the cash to pay the difference after trade. There is a $750 incentive to finance through KIA. This wpuld reduce price another $750. Supposedly we can pay off after 90 days. Money is making 4.25% sitting in savings and finance would be 4.5% or so. There are no loan fees etc. Is there something we are missing that would be reason to not finance and pay off in 90 days?

 

[Chainshaw]

Why KIA? If you are making smart money moves, I would not consider KIA one of them. What you will lose in depreciation will negate any interest you made in your savings account.

 

[Hayata]

Financially it makes sense to get that extra discount. Will hit your credit report. Triple-check they are telling you the truth about paying off early penalty-free.

I'll put my Dave Ramsey hat on and ask that you aren't one to be tempted for that new bedroom suit or new deck furniture for those 90 days that money is sitting in your account, are you? I'm guessing not if you already have the money saved - hat's off to you!

I'd toss the remaining balance (minus 3 payments) into a 3-month TBill and call it good.

www.treasurydirect.gov

 

[CAMSDADDY]

Why KIA? If you are making smart money moves, a would not consider KIA one of them. What you will lose in depreciation will negate any interest you made in your savings account.

Yes will depreciate but the only issue I have found with Kia is engine trouble. Vehicle comes with lifetime tires and power train warranty. Only thing is the require they do our oil changes every 7500 miles. I'm a 5000 mile guy but if they are standing behind it great. We will keep car 5 years or so. Car will have 100+ but will have power train the entire we have it. The oil changes are ,competitively priced and I know they will try to up sell and I am aware of that. Kiaa come with a lot of features for the money and fuel economy is important and its on the highest side for type of vehicle.

Financially it makes sense to get that extra discount. Will hit your credit report. Triple-check they are telling you the truth about paying off early penalty-free.

I'll put my Dave Ramsey hat on and ask that you aren't one to be tempted for that new bedroom suit or new deck furniture for those 90 days that money is sitting in your account, are you? I'm guessing not if you already have the money saved - hat's off to you!

I'd toss the remaining balance (minus 3 payments) into a 3-month TBill and call it good.

www.treasurydirect.gov

Yes DR is why we can buy the car. Its why the trade is paid off. Np the money isn't for spending. Yes they will.hit our credit but I can't imagine it being enough to change any rate in the next few years. We don't finance vehicles and don't plan to buy house.or property. At this point our credit rating is simply a sense.of pride.

 

[Tylerls1]

I’d stay away from KIA. Even with those warranties you will have to use them and could be without a car depending on how long the dealership takes to fix. My sister went through the devil a few months back with one of them.

 

[BH-ATL]

You should check and see if Kia is really honoring the lifetime warranty or is it one you have to jump through so many hoops that you give up before getting the engine fixed. IIRC Kia and/or Hyundai were really making warranty work difficult ot obtain.

 

[Maggiemaeodie]

Don’t do it. Kia sucks.

 

[atljetmech]

GLWKia

 

[Gunanddoglover]

Hi-Points come with a lifetime warranty to.

 

[letusbuyyourcar]

Why KIA? If you are making smart money moves, a would not consider KIA one of them. What you will lose in depreciation will negate any interest you made in your savings account.

What he said. We have a Kia Soul and it's been a hard lesson learned. Granted ours is a 2010. But I worked at the Brunswick Port from 16 to 19 processing new Kias and Hyindais and the Kia quality had not improved a lot even then. Buyer Beware...