Johannesburg - Kia South Africa has introduced a new in-house finance scheme with a guaranteed future value that allows people to change cars more frequently.
The just-introduced Kia FlexiFinance offers a range of short-term contracts with low minimum deposits, adjustable based on the buyer’s needs and circumstances, the option to fix the interest rate, and with the assurance of a guaranteed buyback at end of a greatly reduced repayment term.
At the end of the term, owners can either hand the car back, re-finance, or settle the future value to take ownership. Kia says the benefit of FlexiFinance is the guaranteed future value of the vehicle at the end of the term, which is generally much shorter than the usual 60 or 72 month finance scheme offered by a bank and where the residual risk vests entirely in the consumer’s hands.
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The deal is subject to credit approval by Liquid Vehicle Finance, a product of WesBank. The interest rate is linked to the prevailing prime rate and is subject to change.
Kia FlexiFinance is initially available for the entire Kia Sportage range and the Rio 1.4 hatch and sedan derivatives, with additional models to be added to the programme in due course.
For example, the Kia Rio 1.4, in either five-door hatch or four-door sedan at a retail price of R228 995, is available for R3056 a month, with an 11.8 percent deposit (R27 067) and a 62 percent guaranteed buyback value after 48 months. The baseline Sportage Ignite, priced at R361 995, is available at R5 056 a month over 36 months with an 11.8 percent deposit (R42 715) and 67 percent guaranteed buyback.
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