When lenders are assessing your application for a car loan, often one of the main factors that they’ll look at is your credit score. Typically the higher your credit score, the lower the interest rates you’ll have access to. For some lenders, however, your credit score isn’t as important as other factors such as your income, the car you’re looking to buy or your living situation. 

Because Driva works with a panel of over 30 lenders, we’re pretty confident that even if you have a bad credit score, there might still be a finance option available to you.

If you’re looking to improve your credit score, there are a number of ways you can do this. Firstly, you might want to check out what your current credit score is and look at your credit history. You can access this for free directly through Equifax, and they can help you gain an understanding of your credit score.

Learn more: 8 things you should know about your credit score before applying for a car loan

Buying a new car is an exciting decision, but it can also be a very expensive one! Here’s a quick breakdown of how much you can expect to spend on buying a new Kia.

The actual car

The biggest cost you’ll incur is the cost of the Kia itself, and it’s advisable to spend no more than 30% of your yearly income on a car. Prices range to suit a variety of budgets and needs, with the Kia Picanto starting at $15,690 and the Kia Stinger from $50,250. If buying a new car is a bit out of your budget, you could always consider buying a second-hand car, either through a dealership or a private seller. No matter where you’re buying your car from, Driva can help you finance it!

Ongoing costs

In addition to the cost of the car, there are a number of compulsory ongoing costs you’ll need to consider. Some of the main costs include:

• Maintenance and repairs. Regular maintenance and necessary repairs are a crucial part of owning a car. If you’re looking to buy a Kia specifically, be mindful that they tend to cost more to maintain and service over the first 10 years than other similar brands.  
  
• Registration costs. In order for a car to be legally driven anywhere in Australia, it must be registered.
  
• Insurance. In order for your loan to settle with any of the lenders on our panel, you’ll need to take out comprehensive car insurance in addition to the legally required compulsory third party insurance.
  
• Fuel. The amount you’ll spend on petrol will be largely dependent on how much you drive it as well as the make and model. A more cost-efficient option could be to purchase an electric vehicle, like the Kia Niro.

Learn more: How Much To Spend On A Car - A Complete Guide

Driva has a number of different Kia finance options available to suit a variety of personal needs and financial situations. From secured loans to personal loans and commercial vehicle loans such as chattel mortgages, we’re confident that we can match you with a finance company that suits you. Interested in financing an electric car? See your EV loan options here to get the best deal.

All lenders charge fees, so it’s important to account for them before making any decisions. These fees might include monthly fees, establishment fees or early exit fees. All lender fees and charges are automatically built into the personalised quotes you’ll see on your Driva Dashboard. This means that the monthly repayment figure you see is the exact amount that will come out of your account each month (no hidden fees down the road!), and you can make an informed decision when deciding if finance is worth it for you.

When comparing car loans, we recommend looking at the comparison rate of each loan, rather than the lender quoted APR (Annual Percentage Rate), as the comparison rate includes nearly all the fees you’ll be charged on the loan, so it can help you figure out the true cost of the loan.

Our smart financing platform will automatically assess your profile and match you with your best loan agreement options, but the final decision on which lender to go with is entirely up to you. We advise you to compare the different loan terms before making any decisions, and even seek independent advice if you wish.