2011 Buy Back Program - Kia Forum
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post #1 of 3 (permalink) Old 05-11-2011, 08:51 PM Thread Starter
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2011 Buy Back Program

Hey everyone! I'm curious about something. Does anyone know anything about a Kia 2011 Buy Back Program? I just received a mailer today, and according to the letter a local Kia dealer in my town "would like to buy back my current vehicle (2009 Forte) and exchange it for a new 2011 Kia offered at an unprecedented market discount price." Apparently keeping payments approximately the same or lower my payments and start the warranty over (of course.) Little or no money down, possibly the same monthly payment, etc.

I'll admit this was my first car purchase, so I'm still rather green at all this. So is this just a racket? Or what is the deal? Why would they care? Thanks!

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post #2 of 3 (permalink) Old 05-12-2011, 07:44 AM
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Originally Posted by nathanaaron View Post
... what is the deal? Why would they care? Thanks!
They don't care. They want to make money.
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post #3 of 3 (permalink) Old 05-12-2011, 05:20 PM
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Ok , Here we go this is just a for instance..

You buy a 2009/2010 finance at dealer/bank for 60 months say at 5% intrest $400.00 a month.

You still owe $10,000.00, Car is worth $6000.00 to the dealer

New car is $12,000.00 + $4000.00 payoff new car discount + incentives
$10,500.00 + $4000.00 payoff = $14,500.00 now at 72 months say at 7% interest
now you have a brand new car for only $300.00 a month....WOW my payment droped a Hundred Bucks...

Figure the extra interest the extra months of payments = SCREWED Oh don't forget your insurance just went up too.

Final thought NEVER finance a car at the dealer (unless it's 0% offered) Use a bank or credit union....If you have to use the dealer finance discus price of the car first never payments first...Got the idea ???

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Last edited by Ratdaddy; 05-14-2011 at 04:28 PM.
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