Kia announced on the 4th that it has launched the ‘EV9 Total Solution’ program, which is a buying program that takes responsibility for the entire car life, from purchasing the EV9 to vehicle charging, guaranteeing used car prices, and offering vehicle exchange support.
The ‘EV9 Total Solution’ program offers benefits such as long-term low-interest financing, charging cost support, and used car price guarantees throughout the vehicle lifecycle, including ‘purchase’, ‘ownership’, and ‘exchange’.
This program was created to enhance the satisfaction of new EV9 buyers and to promote the adoption of electric vehicles in the domestic market.
Kia operates customized low-interest installment products for individual customers purchasing certain production month inventory of the EV9 ‘Air’ and ‘Earth’ trims as part of its purchasing support program.
The ‘EV9 Dedicated Low-Interest Long-Term Installment’ (M installment general type) offers low-interest rates ranging from 0.9% to 4.9% for installment periods of 36 to 84 months, as long as a down payment of more than 10% including subsidies is made. When choosing an 84-month installment, the EV9 ‘Air’ rear-wheel drive model can be utilized for a monthly payment of 930,000 won.
Using the ‘EV9 Value Protection Installment’ (M installment deferral type), customers only pay 10% of the vehicle price annually and can defer up to 60% of the vehicle price until maturity.
This involves paying 10% of the total price as a down payment with subsidies at registration, repaying 30% over three years with interest, and covering 60% plus interest in a lump sum at the final installment. Although deferral installment rates are generally higher than regular rates, the ‘EV9 Value Protection Installment’ can be utilized at the low rate of 2.9%.
For corporate customers, Hyundai Capital supports the EV9 specialized leasing products. Hyundai Capital is currently estimating the residual value of the EV9 at up to 65% after 36 months. (※ May vary by product) Higher residual values result in lower monthly payments, allowing corporations with shorter vehicle exchange cycles to utilize the EV9 at a lower lease rate.
Corporations with longer exchange cycles can also enjoy the flexibility of installments while making payments in a familiar manner through installment leases. The EV9 dedicated installment lease involves leaving only 1% of the vehicle price while including initial and maintenance costs such as acquisition tax, automobile tax, and delivery fees in long-term installments, with support available for up to 84 months along with additional discounts.
Kia also supports charging solution benefits under its vehicle ownership support program. Individual and sole proprietorship customers who purchase a new EV9 will receive an additional 1 million Kia Member Points, equivalent to about a year’s worth of charging, on top of the basic EV9 new car purchase points (up to 400,000) and EV9 care points (450,000). Member points can be used as charging credits and can be utilized for the installation of a 7 kW home charger or the purchase of Kia Connect store services.
Kia offers a ‘used car price guarantee for electric vehicles’ to ensure the residual value of existing vehicles. Individual customers who purchase through the Kia dedicated installment program can ensure their residual value based on the written agreements when purchasing new Kia vehicles in the future according to the guaranteed residual rate. In this case, EV9 customers can guarantee up to 60% of the new car purchase price for vehicles less than three years old. (※ This is higher when based on the actual purchase price after applying government subsidies.)
Additionally, customers who purchase the EV9 through the ‘EV9 Value Protection Installment’ (M installment deferral type) can receive a vehicle exchange support fund of 2 million won when repurchasing Kia electric vehicle models within six months before or after the end of the installment period through Kia dedicated installment.
A Kia representative stated, “We launched the ‘EV9 Total Solution’ to provide a comprehensive purchasing program covering the entire car life. Kia is planning to continue to introduce various dedicated purchasing products for electric vehicle customers in the future.”
Lee Sang-jin daedusj@autodiary.kr