How to Lower Your Kia Finance Payment

We know it can be frustrating when you have your heart set on a new vehicle, but the payments are higher than you’d like. Luckily, there are several ways that you can lower your auto payment. The Kia finance experts at Casey Kia are sharing a few tips to help.

Make a Larger Down Payment

While there isn’t a set rule for financing, experts typically recommend making a down payment of at least 20 percent. Making a large down payment reduces how much you have to finance. This can give you smaller monthly payments and means you’ll pay less interest on your loan.

Trade-in Your Vehicle

If you don’t want to pay cash up front, you can use your current vehicle as a down payment. Our team will assess your vehicle based on a number of factors, including mileage, condition, and current market value. Then, you can apply the positive equity to your loan.

Stretch Out Your Loan Term

Generally, you want to limit your loan term to four years. However, a longer term can help if you aim for lower monthly payments. Keep in mind that you will pay more interest on a longer loan.

Refinance Your Loan

Often, our financial situation changes. If you have a loan that no longer works for you, you may want to consider refinancing. If you have a higher credit score, you could secure lower rates, giving you lower monthly payments.

Apply for Kia Financing in Newport News, VA

We have a convenient financing process at Casey Kia. With our network of trusted lenders, we can help you secure a competitive offer with terms that work for you. Stop in to get started today!