2024 Kia EV6 Financing Rate Slashed To 0% APR

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Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Senior Pricing Analyst - March 5, 2024
2023 Kia EV6 GT red color back view

Kia has slashed interest rates on the popular EV6 to 0% to get more shoppers into showrooms. According to a bulletin sent to dealers last week, the all-electric 2024 Kia EV6 now features zero-percent financing for 60 months. This is the best financing deal to date on the 2024 EV6 with a big advantage over past offers.

On March 1st, all 2024 Kia EV6 trims became eligible for interest-free financing for up to 60 months. Previously, the rate was 1.99% APR. On a $45,000 vehicle, we estimate that this essentially translates to a $2,300 price cut when comparing the interest paid on a loan. However, shoppers may find some important downsides.

Kia EV6 black interior

As CarsDirect reported earlier today, 2024 EV6 lease prices were cut to just $279 per month, the best price we've ever seen on any EV6. What's more, 0% financing can't be combined with incentives like this month's $7,500 Customer Cash deal on the 2024 EV6. That could be a deal-breaker for some buyers.

We estimate that a 5-year loan at 0% for a $45,000 car would cost $45,000 before taxes & fees. If you were to take the $7,500 incentive and finance at 5%, the cost would be $42,460. That would potentially be an advantage of over $2,500, though your results would undoubtedly vary depending on your available credit.

The 0% financing deal follows last month's move by Hyundai. Both the EV6 and IONIQ 5 now feature interest-free financing. To put this into perspective, Tesla's advertised rate is 6.49% APR. For some buyers, the $7,500 Kia rebate could help make up for the lack of the federal tax credit that the Model Y still gets.

While this isn't the first time that the EV6 has gotten 0% financing, the timing of Kia's deal is completely different. Our records show that Kia didn't offer 0% financing on the 2023 EV6 until it was virtually sold out back in January. Now, we think the odds of finding an EV6 with 0% financing could be considerably higher.

Current Kia deals end on April 30th.

Explore Kia EV6 Financing Deals

, Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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