zombie debt and your credit

As part of what I do, I try to answer questions  about your credit. Credit, of course is a very important part if purchasing  a new car. Some of us have old debt that comes out of the grave. It's called zombie debt. Here is a very good article about what it is and how to deal with it. Have a Kia Day!

https://www.moneycrashers.com/zombie-debt-collectors/

A Good Video For Lease Returns

So your lease is coming to an end, and you are wondering what you need to do. Here is a great, short video from Kia going through it step by step. 

Lease return video..What You need to know

Also this just came thorough. Good Information:

Kia Finance customers who are affected by the current government shutdown and need assistance can contact customer support at 1-866-331-5632


Don't forget I am here for you if you have any questions.  Stop By Jim Marsh Kia in Las Vegas and let me put you in your next KIA!!


Have a KIA DAY!

Credit Myths

We all hate the whole checking credit thing when we go buy a car.  Many dealerships will get your social security number and blast it from here to the moon resulting in 15 or more "HITS" every time. Some dealerships will do a SOFT INQUIRY  which is no more than just running your score and history. Once you agree on terms and numbers, they will then "shop" to the lender they think you have the best chance of getting bought with.  Remember, if you are buying a car at a dealership the are required to do a credit check. Even if you are paying cash, they need to run your social through the national data base to make sure it is really YOU.  

Anyway, we all know to some degree what our credit looks like. If you don't, you should check it. Often.

Here is a link to a great article that you should read.

(Kudos to Huffpost)

 Credit Myths

Have a KIA day. and remember, you can direct your questions here or at
 cash at kia

#YESITIZ

Kia Purchase vs. Lease...Great, Clear explanation From Kia Site

Hi Everyone. It's been a while, I have been really busy selling Stingers! #Yesitiz.  We have discussed leasing Vs. Buying before, but here is a great breakdown from Kia's home page.  It it clear and answers most of the questions my customers have.  Check it out. Remember, you can always e mail me at  cashatkia@cox.net with any questions you have about your Kia. You can also submit questions in the comments below.  Hope this makes the question of Lease v. Purchase a little more clear for you.

Have a KIA Day!

Kia lease v. purchase

To Gap or not to Gap...There IS no question.

When you buy a car, be it a Kia or something else, and you finance that car, you will no doubt be offered GAP insurance while in the finance (business) office to sign your paperwork.  The cost of this will vary depending on the car, the amount financed etc.  

It's not one of those add ons that dealerships sell to make a ton of profit.  I have GAP on every car in my family. It is especially important if you are in a zero down situation with a moderate interest rate.  Here is how it works....

Lets say you buy a car that costs 20,000.00.  After taxes and dealer fees the amount to finance  comes to lets say 23,000.00 (just using round numbers here for example) Then, maybe you buy a service package. Now lets use a moderate interest rate of, say, 3.9%.  So after all is said and done you are financing lets say 25,000.00.

Everyone knows that your car loses about 100.00 or more a month in depreciation when you drive off.  So, if you get in an accident a year after you buy your car, your insurance will value the car less than the value you owe.  If that value is say 15,000.00 and you owe (minus remaining interest) 21,500.00.  (called negative equity). GAP will pay the outstanding 6,500.00.  If you don't have GAP, YOU are liable for that amount.  It's worth the extra 20.00 a month or so to have that peace of mind. 

When do you not need GAP?  

If you are at a 0% rate and put 20% down or more (buying equity) you are probably safe opting out of GAP. (Double check with the finance manager where you buy) BUT for about 90% of the buyers I sell to, I say "Fill the GAP!"  Pay a few dollars extra now to save a chunk later...and the possibility of hurting your credit.  As always, you can comment here, or ask any question you may have.  E mail me at cashatkia@centurylink.com or call me at Jim Marsh Kia in Las Vegas. 702*946*1000

Have a KIA Day!!