Kia to Offer Low-Cost Financing for Morning Subcompact

Published on 2019/07/07 | Source

Kia on Thursday unveiled a new financing plan for buyers of its Morning subcompact to lure more young customers.

The plan allows customers to repay over a 100-month period, which amounts to monthly installments of W110,000 to W130,000 for eight years and four months -- similar to most commuters' monthly public transport budget (US$1=W1,170).

There is no minimum deposit. A fixed interest rate of 4.9 percent will be applied for the period, and there is no penalty for early repayment after 50 months.

The entry-level car costs about W9.65 million.

"We expect this deal will be appealing to many young customers", a Kia spokesman said.