Lenders and Auto Loan Relief Programs
Making your Kia auto loan or lease payments as agreed may be seriously challenging or even impossible at this time. The COVID-19 pandemic has struck a significant financial blow to many people across the country and beyond. If your vehicle is financed through Kia Motors Finance, you may find the relief you need through the lender's payment deferment plan.
Kia Motors Finance
Kia Motors Finance provides a flexible debt relief option to qualified customers. Specifically, you must be directly affected by the COVID-19 virus, and your auto loan must have been established before March 14, 2020. If you meet these requirements, you may request a 30-day payment deferral. This deferral is available for three periods or up to 90 days total. Uniquely, Kia is also offering a warranty extension for qualified customers.
End of Lease Options
Is the end of your Kia lease approaching? Because of your current financial circumstances related to the pandemic, the typical end-of-lease options may not be practical for you to consider at this time. For example, you may not be in a position to surrender your leased Kia, to trade up to a newer Kia or to buy out your lease. If you are looking for alternative options at the end of your lease, contact Kia Motors Finance for personalized attention.
Loan Deferment FAQs
What is a Kia Loan Deferment?
If Kia Motors Finance approves your account for a payment deferral, you will be permitted to skip the payments that would have usually been due during the agreed deferment period. While interest will still accrue, as usual, you will not be charged a late payment fee. Your Kia’s loan term will be extended by each 30-day deferment period that your account is approved for. Each skipped payment must be paid at the end of the extension.
Will a Kia Loan Deferment Damage My Credit?
If Kia Motors Finance grants a payment deferral request, the missed payments will not be reported to the credit bureaus as adverse events. However, you will need to make all other payments on time to avoid damaging your credit rating.
How Do I Request a Kia Loan Deferment?
Kia Motors Finance is approving deferment requests for qualified account holders at this time. To learn more about the request process, you should sign in to your Kia loan account online or contact Kia Motors Finance directly by phone.
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