Photo : KiaIn light of the economic impact of coronavirus and the general desperation of automakers to sell cars, several brands are offering special financing programs such as zero percent loans and/or deferred payment programs.
AdvertisementKia is offering up to 120 days deferred payments and up to 75 months at zero percent APR on specific models such as the 2020 Optima (Hybrid and PHEV), 2020 Sorento, 2019 Niro (EV and PHEV), Cadenza, Stinger, and K900.
The deferred payment plan exacerbates this risk because most cars incur the most dramatic depreciation in the first year.
However, a lot of buyers are often financing 100 percent of the purchase, or, even worse, rolling over negative equity into a new car loan.
AdvertisementThere is nothing wrong with taking a loan with no interest, and the deferred payments can give some buyers breathing room if their current income situation has taken a hit.

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