Kia Personal Motor Loan

A simple and traditional loan, structured to your budget, with fixed monthly payments throughout the agreement.

How does it work?

• Once you've chosen your car (which cannot be older than 14 years at the end of the agreement), you decide if you would like to fund the entire purchase price or put down a deposit.

• You then decide on the length of time you want to spread the repayment of the balance over, this varies between 12-60 months. The minimum loan amount is £3,000. Criteria may vary dependant on campaign promotions, so please check with your local Kia Dealer.

• Your interest rate is fixed so every month you'll pay the same amount and after all repayments have been made you own the car.

Kia Personal Contract Purchase

A flexible finance loan that allows you to change your car on a regular basis with a choice of repayment periods and end of contract options.

How does it work?

At the start of the agreement we'll set an Optional Final Payment for your car, this will be based upon your chosen agreement term and approximate annual mileage. You pay a deposit and then make monthly repayments based on the outstanding loan balance less the Optional Final payment.

At the end of the monthly repayment period you'll have three options;

• 1. 1. Retain: You can pay the optional final payment and the car is yours;

  2. 2. Return: You can hand the car back to us, with nothing further to pay (subject to mileage and fair wear and tear);

  3. 3. Renew: You can part exchange the car, using any equity over and above the optional final payment as deposit on your next car. Although equity is anticipated, this cannot be guaranteed

* If electing to hand the vehicle back at the end of contract, any mileage in excess of the agreed limit will be chargeable at 9.0p per mile for all models.

And what else do I need to know?

• Typically repayment periods are over 25 or 37 months.

• The Optional Final Payment is based on your repayment period and mileage. This can be set from 6,000 to 30,000 miles per annum.

• The car can be up to 47 months old and 50,000 miles at the start of the finance agreement and must not exceed 84 months and 100,000 miles at the end of the finance agreement.

• A maximum of 50% deposit is allowed and the minimum loan amount is £3,000.

• You will not own the vehicle until all monthly repayments are made, including the optional final payment.

Finance Product

The type of finance product you have selected.

Monthly Payments

This is the monthly payment amount required under your finance agreement (which is inclusive of any interest) and which must be paid by you for the Duration of Agreement.

Optional Finance Payment

The Optional Finance Payment, calculated at the beginning of a Kia Personal Contract Purchase finance agreement, is based on what the models estimated value will be at the end of the agreement, taking into account its future condition and mileage. This sum is guaranteed no matter what option you decide to take at the end of the contract.

Kia Finance aim to set Optional Final Payments at a level which should provide you with equity which can be used as a deposit on your next car, or if the car is returned, refunded to you - less sales expenses and commissions.

On the Road Price

The total price of your chosen model.

Customer Deposit

An optional initial cash payment made by you at the start of your finance agreement, in addition to the first Monthly Payment.

Kia Deposit Contribution

A contribution made to your Customer Deposit from Kia Finance.

Amount of Credit

The amount that you are borrowing from Kia Finance under your finance agreement.

Interest Charges

The amount of interest that you will be charged and which you will repay over the course of the loan period (see Duration of Agreement).

Total Amount Payable

The sum of the Monthly Payments, the Customer Deposit (if applicable) and the Optional Final Payment (if applicable).

Duration of Agreement

The period (in months) that you will take the finance agreement for.

Annual Mileage

When you agree to a Kia Personal Contract Purchase finance agreement, you decide the estimated total mileage for the period of the contract. If you are wishing to hand the car back to Kia Finance and you have exceeded this estimated total mileage you will be charged a fixed amount (fixed at the start of the finance agreement) for each mile over and above this estimated total mileage. If you are keeping the car and wish to pay the Optional Final Payment there is no penalty for exceeding the estimated total mileage.

Excess Mileage Charge per Mile

Your finance agreement specified (1) an estimated total mileage of 36,000 miles and (2) a charge of 9.0p for every mile travelled in excess of this. If you drove 37,000 miles, the excess mileage charge would be 9.0p x 1,000.

Fixed Rate of Interest

The loan interest rate that will remain the same for the Duration of Agreement.

Representative APR

The annualised cost of credit expressed as a percentage; used in finance agreements.