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Congratulations!

You've chosen a car, agreed on a price, and are eager to hit the road. There's just one final step - meeting with a Financial Services Manager.

But first, let's take a moment to prepare.

Know as the Finance Office, or Business Office, this is the final step that makes it all official. The managers work with you to get approved for your loan or lease, and sign the legal and deal documents with you. On top of that, the finance managers also provide protections for your car, such as extended warranties and paint protection.

In this article we'll take a detailed look at exactly what you can expect in the Finance Office.

What Exactly Happens in the Finance Office?

The Meet and Greet

This is what we call the discovery phase. We take the time to find out exactly what your needs are and how the vehicle will be used. The more we know the better we can advise you.

Cash Payments

You will need:

  • Valid ID; BC DL or BC ID or Canadian Passport
  • Insurance papers and plates if transferring insurance from another vehicle or trading in

We do a quick cash interview if you are paying with cash. We are legally obligated to know where the money is coming from due to anti-fraud/anti-money-laundering regulations. So don't worry - we ask everyone these questions.

At this point, we can move directly onto the delivery phase of the process. If you're using a leasing or financing program, there's often a second meeting.

Financing or Leasing

You will need:

  • 2 most recent paystubs
  • Valid ID; BC DL or BC ID or Canadian Passport
  • Void cheque or pre-authorized debit form
  • Insurance papers and plates if transferring insurance from another vehicle or trading in
  • Rent or Mortgage information
  • Employment details

The first step: we conduct a confidential credit interview. We run a credit check to determine the best course of action to get your approved for your loan or lease. We work with you to get approved at the best possible terms. All options are available to us: from KIA Motors Financial to countless other lending and financial institutions.

Then, we submit a credit application for approval. Sometimes you can wait at the dealership for the approval, and sometimes we'll send you home to wait. the approval can take anywhere from a few minutes to several days depending your credit history. And sometimes were swamped and need time to work on your file.

If you have a poor credit history, this process can sometimes take a bit longer. But we're used to being creative to help our customers. If you can be approved, we will get you there! Learn everything you need to know about your credit score in our article here.

When we receive the approval, we'll give you a call to the book appointment for delivery.

Financial Services

At your financial services appointment, we go over all the protections and warranties that are available for you and your new vehicle. We review and sign all the prepared financial and legal documents.

Warranties and Protections

A good Financial Services Manager will get to know you, your lifestyle, and your needs first. Then will recommend only the products and warranties you truly should consider. At KIA Victoria, our Financial Services Managers suggest only what suits you and your lifestyle. They are there to guide you and help you make a great decision.

Check out our companion Learning Library article here, which covers all the warranties and protections that are on offer in detail.

Recommended Packages if you are Financing or Leasing:

  • Credit & Loan protection
  • Life, disability, and critical illness
  • Job loss protection

Appearance Protection:

  • Tire & Rim repair and replacement
  • Scratches, Door dings
  • Key replacement

Platinum Shield Protection Package:

  • Ceramic Paint protection
  • Undercoat/Soundshield
  • Interior leather/vinyl/fabric protection
  • Rust inhibitor/module

Mechanical breakdown (Warranty) for gasoline and electric vehicles:

  • Pays for covered repairs in the event of breakdown including parts, labour, and taxes

A word of Advice From Yolande, Financial Services Manager at KIA Victoria

Yolande Jones has been a caring and remarkable fixture at KIA Victoria for over 10 years. This is what she has to say about helping customers in the Financial Services Office:

"I make sure all of my customers leave the dealership happy, with the products they need - and nothing they don't. I help all types of people, including friends and family too.

"My mother purchased a new KIA Sportage from us in 2018. I know she likes to keep her vehicles long-term, well past the manufacturer warranty dates. So, I made sure that she extended the warranty to 10-year/200,00 kms. I also recommended the full Platinum Shield Protection Package, and Appearance Protection because the beauty of her vehicle is important to her. She paid cash for the vehicle so loan protection was not applicable.

"I have other family members who have purchased new KIAs from us and I recommended protections that suited their budget and lifestyle needs. For example - if you have a strict budget and plan to keep the vehicle past the factory warranty period, then I will recommend they extend the warranty. I will also recommend that you pass on the appearance protections. Appearance is definitely nice to have - I recommend it all the time - but if you have a tight budget, it won't pay for repairs if the car breaks down."

Insurance

You will need:

  • Valid ID; BC DL or BC ID or Canadian Passport
  • Void cheque or pre-authorized debit form
  • Insurance papers and plates if transferring insurance from another vehicle or trading in

At this point we call an ICBC agent to the dealership to register and insure your new vehicle. No hassle, just a new car to drive away in!

Delivery

It's the moment you've been waiting for! But first, let's take a bit of time to learn all about your new vehicle. A member of our sales team - most likely your sales representative - will go over your car's features, recommended maintenance, bells, and whistles. We'll show you how everything works and how to keep your vehicle in top condition. By the end of the session, you'll know everything you need to know to drive away with confidence. If any other questions arise, please don't hesitate to contact us! We're here for you!