Kia Car Loan

Find out whether funding your purchase with Kia car finance is the right option for you here with Savvy.

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, updated on June 30th, 2023       

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As one of the top car manufacturers in South Korea, Kia has since expanded to hold a fair share of the Australian market with a wide range of mid-priced vehicles and more than 90 locations countrywide.

If you’re in the market for a Kia, you should always have a clear understanding of what your options are and whether car finance with the Kia dealership is the best option for you.

Fortunately, Savvy breaks down Kia car finance deals all in one place so you can know exactly what you’re getting before you apply, as well as help you consider a range of other options from our panel of lenders.

*Please note that Savvy does not represent Kia Finance for their car loan product.

car loans for kia cerato

Popular Kia models

The features and benefits of a Kia car loan

100% finance plus on-road costs

You can be approved for up to 100% of the cost of your vehicle, or more if you wish to include some of the on-road costs, such as rego, insurance and maintenance, in your loan.

Repay over one to seven years

Decide on your ideal loan term and tailor your repayments to your situation, either paying it off as soon as one year after or taking as many as seven to do so.

Set your repayment frequency

In addition to this, you can determine whether you make your repayments on a weekly, fortnightly or monthly schedule, in line with how often you receive your income.

Optional deposits available

If you’re in a financial position to make a lump-sum deposit towards your Kia car loan, it can save you hundreds of dollars in interest and fees over your term, if not more.

Business financing options

On top of their personal car loan product, Kia also offers a range of business car finance deals if you’re looking for a business vehicle, such as a finance lease or hire purchase.

Finance added accessories

The other costs which can be included in your car loan aren’t just limited to rego and other on-road costs, with a range of accessories able to be included like roof racks and tailored floor mats.

The pros and cons of Kia car loans


Convenient process

If you’re going to the dealership to buy your car anyway, you may find that financing through your dealer is an easy and convenient way to purchase your car.

Personalised interest rate

You’ll receive the interest rate for your car loan based on your individual profile and financial situation, so you can be rewarded for a strong history of repaying your debts.

Options for reducing your repayments

Kia affords borrowers the flexibility to add a deposit and/or balloon payment to their car loan, enabling you to reduce your regular repayments overall and potentially save (with a deposit).


Apply through your local dealer

Because the application process takes place via your local Kia dealer, you won’t have the luxury of completing the process from home or on the go via your phone.

Limited range of options

When you apply to Kia, you’ll only have a very limited range of options to choose from (one if you’re applying for a personal car loan), which isn’t the case with other lenders.

May be more expensive than other lenders

Dealership finance can result in an inflated purchase price for your car compared to independent dealerships, as well as potentially a higher interest rate, although will differ from person to person.

More about Kia car finance

Is financing my car directly with Kia the best option for me?

It may be – as outlined above, you may find that it’s the most convenient and affordable option for you. However, you’re less likely to be able to confidently say that your car loan is the best available option when you apply directly to a dealer. It’s always crucial to compare as many options as possible before you commence the application process, as that’s the best way to choose with confidence. There are many ways you can go about this; however, perhaps the simplest and most effective way to do so is through Savvy.

When you apply for a car loan with Savvy, your application will be considered by a real consultant who will use your application and profile to compare offers from our panel of over 25 lenders nationwide. In doing so, they take the hard work out of this process which may otherwise take up valuable time you might not have (if you run your own business or have your hands full with kids, for example). Our existing relationships with these lenders also put us in a great position to lock in better rates and tailored deals to save you money.

The key to saving money on your car loan is to consider as many options on the market as possible. While you may decide the best option ends up being from the Kia dealership, you won’t be able to say for certain unless you do it. Apply for your Kia car loan with Savvy today to take the hassle out of finding your ideal car loan.

Should I attach a balloon payment to my Kia car loan?

A balloon payment with Kia is similar in some ways to a deposit, except it’s paid at the end of the loan, rather than the beginning. The effect this has is such that, while your repayments are lowered in the same way as with a deposit, you actually end up paying more for your car loan than you would without a balloon payment.

This is because of the way interest is calculated: this is done daily as a percentage of the loan amount remaining. While a normal loan gradually reduces to $0, a loan with a residual payment decreases over your loan term to your residual amount (such as $5,000) instead, meaning the interest calculated across your term will be greater than that of someone without a balloon payment.

Common Kia car loan queries

Can I get a Kia car loan if I’m self-employed?

Yes – self-employed workers are just as eligible to purchase their vehicles with finance as any other PAYG worker. Because you don’t receive payslips like is standard, you’ll need to supply business and personal tax returns to qualify for your loan. If you don’t have these, though, you’ll be required to apply to a specialist lender for a low doc or ABN car loan, which utilises alternative documentation instead.

What’s the difference between a car loan and a novated lease?

Novated leases and car loans have several key differences. This type of lease involves a three-way agreement between you, your financier and your employer, whereby the car is leased to you and your employer covers its payments by deducting the required amount from your pre-tax salary. In doing so, the amount of income tax you’re liable to pay is reduced. However, you don’t actually own the car until the residual is paid and it works out to be more expensive in the long run to continually take out novated leases than pay for a Kia outright.

Am I better off taking out a personal loan instead?

Probably not – in terms of which is better for you to buy your next vehicle, car loans are almost always better than personal loans. While the ways you can use your funds are far more varied with a personal loan (or unsecured car loan), the reality is that borrowing is far more restrictive (capped at $50,000) and they usually come with higher interest rates and fees. You may need a personal loan to buy a car if it doesn’t otherwise fit within your lender’s eligibility criteria, such as being too old, but if your car is new or used and in good condition, a car loan is always the best option.

How much will my Kia’s stamp duty cost me?

The stamp duty you’ll pay on your Kia purchase will depend on where you live and how much it costs, among other potential factors. This calculation is different depending on which state or territory you live in, with each one having its own formula for calculating stamp duty. For instance, in the ACT, a car’s environmental performance affects the cost of stamp duty, while New South Wales calculates based on its price alone.

If I’m a low income-earner, can I still get a Kia car loan?

Yes – provided you can meet their income requirements and comfortably support your car loan’s repayments, you can be approved for Kia car finance on a low income. However, your borrowing capacity will be impacted by the income you earn, as your lender will always want to leave room for error in your repayments.

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