Kia Coronavirus Financial Relief and New Car Incentives

Jack R. Nerad | May 11, 2020

Kia Motors America has announced customer support for current customers and additional incentives for new customers as it responds to the coronavirus pandemic and the associated economic upheaval.

Kia Coronavirus Financial Relief and New Car Incentives

The severe business restrictions currently in place are expected to limit vehicle sales in the short term, and they may have farther-reaching effects depending on how long they are in effect. 

As a result, Kia, like all global car companies, is altering its expectations for the 2020 model year while at the same time doing all it can to support its customers, motivate more Kia purchases, assist hard-hit areas through its Telluriders personal protective equipment delivery initiative, and contribute to the health and wellbeing of America’s homeless youth with a $1 million donation.

What follows is a recap of the coronavirus financial relief and new car incentives Kia has assembled to deal with the crisis, joining numerous automakers offering coronavirus car payment plans.

Kia Customer Relief Programs - Find the best deals!

Kia Motors Finance has responded to the coronavirus pandemic with an offer to help current customers who anticipate difficulty in making their monthly payments. 

Existing customers who purchased or leased a new vehicle before March 14, 2020, who are caring for themselves or a member of their household and are temporarily unable to work or suffered a job loss as a result of the current global health crisis, may be eligible for a payment deferral. According to Kia Motors America, payment deferrals of up to 90 days are being offered to existing Kia Motors Finance customers on a month-to-month basis. Those impacted by the crisis are urged to contact Kia Motors Finance at 1-866-331-5632.

Current Kia owners and lessees who did not finance their vehicle or obtain their lease through Kia Motors Finance are urged to contact their lender or leasing company directly. Many of them are offering various forms of payment relief. Discussing your individual situation with them is the first step toward understanding your options.

Additionally, customers whose warranties are expiring at any time between March and May receive automatic extensions to June 30, 2020. And if Kia owners require repairs to their vehicle during this difficult time, dealers are offering special programs to help customers to pay the bill.

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Kia New Car Incentives - Find the best deals!

The sudden onset of the pandemic has caused many American consumers to wonder about the security of their job. To help allay those fears and prompt immediate car sales Kia is offering both strong financial incentives and lengthy payment deferrals to those who purchase their vehicles soon. 

Kia's "Accelerate the Good" program offers 0% APR financing for up to 75 months on selected new vehicles, and customers who finance their vehicle purchases through Kia Motors Finance may be eligible for a 120-day payment deferral. Customers must take delivery by June 1, 2020. 

To facilitate limited personal interaction, Kia Motors is offering an online sales and leasing process at many of its affiliated dealer locations. Service can also be scheduled online at most dealers, and many are providing loaner cars, shuttle service or home pick-up and delivery.

Kia Factory Closures - Find the best deals!

In response to serious health and supply chain concerns, Kia Motors Manufacturing Georgia, Inc. (KMMG) suspended production at its West Point, GA facility. 

While manufacturing operations were suspended, KMMG performed cleaning and disinfecting processes at workstations throughout the plant. The factory, Kia's lone U.S. assembly facility, typically employs about 3,000 workers and is the home to the Telluride SUV, Sorento SUV, and Optima mid-size sedan.

Kia originally planned to resume production on April 13, but the factory re-start was pushed to May 4.

Kia Economic Outlook & Sales Forecast - Find the best deals!

The coronavirus crisis has diminished overall economic activity, total vehicle sales, and will likely dent Kia's vehicle sales in 2020. However, in spite of an 18.6% drop in sales in March, Kia’s first-quarter year-over-year sales actually rose 1% on the strength of the automaker’s popular Telluride SUV model. Kia says April sales fell 38.2% over the same month last year, which isn’t as bad as some automakers. 

It is too early to tell how long the dramatic decline in commerce will last and what the long-range effects of it will be. Asked about the prospects for U.S. vehicle sales and its sales for 2020, a Kia spokesperson told us, "We can't comment on forecasts at this time."

Taking a larger view, Tyson Jominy, vice president of Data and Analytics at J.D. Power, said that beyond the inherent uncertainty of the pandemic, a key determinant of auto sales will be legal restrictions on dealership sales operations and consumer activity. J.D. Power's pre-virus 2020 outlook of 16.9 million light-vehicle sales in the U.S. is no longer attainable, and the revised forecast predicts a range of 12.6 to 14.5 million units for the calendar year.

The information in this article is from Kia Motors America and was accurate as of May 10, 2020. Plans and programs may have changed since that date. Be sure to confirm with your Kia dealer that offers discussed in this article remain valid.

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