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Hello everyone,

I am considering buying my first car, and I am opting for a brand new 2017 Kia Forte5 EX, with automatic transmission. Currently Kia is offering a $500 manufacturers rebate, and 0.9% financing for 84 months.

After two days, I was able to get the biweekly payments down from $154 to $149 (my goal was to have it below $150 due to budget).

I am not considering adding on the extended warranty, but I am considering the rust proofing. The sales manager originally offered it at $890 after taxes, but said the final price he was willing to offer was $790 after taxes otherwise I can go 3rd party. What I like about the dealers rust proofing is I don't have to worry about getting it done every year, they cover it for up to tens years with no yearly inspections, and they actually cover rusting of the body (hood, doors, trunk, etc.). If I go 3rd party through Krown, its $136 each year, and after 6 years, I have paid the same price as the dealers rust proofing price, and they don't cover rusting of the hood/doors from stone chips/dents.

My question is: is $149 bi-weekly for 84 months a good deal? Is my logic with the rust proofing good or bad?

It's my first car purchase that I had to negotiate myself. Plus I am taking the rust proofing as an insurance for my first purchase.

Thanks for any advice & feedback! I will post up pictures once I finalize the deal :smile2:
 

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Here's my advice:

Skip the rustproofing. Kia gives you a 6 year, 100k mile anti-perforation rust warranty standard. Also, I have had 3 Kia's living in salty New England and have had no rust problems. Also, I have not seen any Kia's made in the last 10 years with any rust.

I hope you are getting more than just $500 off the MSRP of the car. Compact cars in general are not selling well at the moment and you should be able to get an excellent deal. Here's one not far from where I live that's $5000 off the sticker price:

https://www.cargurus.com/Cars/inventorylisting/viewDetailsFilterViewInventoryListing.action?sourceContext=&formSourceTag=112&newSearchFromOverviewPage=true&inventorySearchWidgetType=AUTO&entitySelectingHelper.selectedEntity=c25787&entitySelectingHelper.selectedEntity2=c25787&zip=02050&distance=75&searchChanged=true&modelChanged=false&filtersModified=true#listing=160711125

Finally, see if you can move to a 60 month or shorter loan. With an 84 month loan, you are going to be underwater for a few years and it's a long time to pay for a car.
 

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Discussion Starter #3
Thanks for the reply, so this is the breakdown
MRSP: $22,395 (Canada)
Freight: $1,560
Total of extra charges: $438
We get a $500 rebate on the price of the car AFTER taxes, so the total discount i got on the car is $1,156 (including the rebate) to make the payments to $149 biweekly. Its an open loan so I can pay it off whenever I want with no penalty, so might as well take it for 84 months, the total interest I'd pay is so minimal over 7 years, so I am not concerned with interest expenses, and if I sell the car I'll just pay off the whole loan.
 

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Personally I think that's a terrible deal. $149 bi-weekly is a little more than $322 a month. For 7 years that's over $27,000.

Depending on options, that car should be about $24,000 At 0.9% interest and $2,000 down (or on trade) that should be closer to $310 per month (or $143 bi-weekly) for only 6 years (62 months).

As for the rustproofing, skip it. It's a waste of money.
 

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Make sure the rust proofing offered at the KIA dealer isn't the rustproof module cause that is generally what they are offering.

Pat.
 

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Discussion Starter #6
Its not the module, its the one time coat, and i know one coat isn't enough, but who cares, they warranty it, if theres any rust ill take it up with them. I actually like its one time, and no inspections, I don't have to worry about anything unless I see rust (hopefully it won't rust!)
 

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hey guys just joined. I am planning to buy a 2020 version of this car. any advise? I'm in the process of also finding a new insurer since my dad got his license suspended recently and he wants me to drive him around. It's low key a pain in my behind since I liked my previous plan but he was super insistent on the fact that I am driving him around until he pays off his tickets and gets his license back he will get me a plan. I honestly didn't even know if that was possible but he showed me an article that says that he can cover for me even without the his DL. (You can read it here if you need to: https://www.americaninsurance.com/can-i-get-car-insurance-suspended-license)
 

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My advice, get one.

Other than that, I can't give you more advice unless you let us know what you need advice about. Are you looking for advice about reliability, longevity, price, what level to buy, color choice, performance, etc.
 

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This is not a big amount and it seems to me that you can easily find a reliable bank and take a loan from them at 2-3 percent per year and I’m sure that in just 4 months you can pay the whole amount. So you just worry in vain and complicate your life. But first you need to find a reliable bank. I myself never took a loan, but my father has experience and therefore I am well versed in this. To get started, read the reviews about the different banks at https://foxycredit.com/fi/lendo-laina and choose the most suitable option for you. If you are not yet 18, then consult your parents before such an important step.
 
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