Differences in Dealership percentage rates

Asked by Newride9300 Aug 17, 2024 at 05:08 PM about the 2024 Kia Sorento S AWD

Question type: Shopping & Pricing

Is there a steep difference in finance departments between Nissan and Kia?
We got a price quote for 2024 Nissan Pathfinder at an 8.99% APR but then
when we got a quote for a 24 Kia Sorento their APR was 16.99%! How does
that happen? Just two different banks? I guess I figured if my credit got me
an APR of 8.99% for one car it would at least be somewhat similar for other
cars...?
If I go to a different KIA dealer, will they perhaps offer me a different APR? Or
once you try to finance through KIA it's all the same bank??

4 Answers
310,265

Gene answered 3 months ago

You better stop and rethink what you are buying, both of those makes are not rated very good. Try your credit union or your bank for better rates.

Mark helpful

Newride9300 answered 3 months ago

THe 2024 Kia Sorento is rated #6 in the US News and WOrld Report of most reliable midsize SUVs. And #5 by JD Power. It ranks 10/10 in fuel efficiency and value. I don't want a Telluride which ranks above the Sorento becuase it's too much car and the price is too high. But also, the reliability of my car choice wasn't my question.

Mark helpful
157,625

James answered 3 months ago

Different lenders charge different interest rates based on the national prime, amount financed, age of the vehicle, and the credit risk. Personally I'd suggest, if you can, waiting until next year to make any big purchases. Hopefully the interest rates will come down by then. Jim

Mark helpful
310,265

Gene answered 3 months ago

But then if you did buy them you would crying later on, why didn’t someone tell me. Do not believe any or the rating companies, talk to real people.

Mark helpful

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