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Relaunch for Kia Financial Services

Kia Financial Services has reshaped its wholesale and retail provision for dealers after signing an agreement with GE Money.

The Kia franchised network was briefed on the changes at a national conference.

Yaser Shabsogh, Kia Motors UK sales director, said: “The previous arrangement was viewed by some dealers as unfair. We were not providing the same facilities across the network, but that has been changed and they welcome it.”

Kia now regards wholesale finance for dealer stocking and the supply of retail finance for point-of-sale business as totally separate. A £100-a-unit stocking penalty imposed at times when the two were linked has been scrapped.

Key features of the new package include 45-day free stock funding, which Shabsogh said was important as Kia seeks to build volumes.

GE Money is providing a Kia Access PCP which gives dealers the chance to sell cars at monthly rates attractive to retail buyers (£99 for the Picanto).

“Kia Motors already had a relationship with GE Money in Germany and other countries,” he said. “This was helpful in working out our agreement.”

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