Kia Philippines is expanding its financing options through a partnership with UnionBank of the Philippines, offering customers installment payment plans of up to 36 months as automakers intensify efforts to make vehicle ownership more affordable amid cautious consumer spending.
The collaboration enables buyers to purchase any model in Kia’s lineup, including the recently launched Kia Sportage Turbo Hybrid, through the UnionBank PayEasy program, giving customers an alternative to traditional auto financing.
Under the program, UnionBank credit cardholders can pay for their vehicle through installment terms of three, six, 12, 24 or 36 months at 19 participating Kia dealerships nationwide. Customers may also choose to settle their purchase through a straight credit card transaction.
The partnership also introduces added flexibility for borrowers taking out a UnionBank Auto Loan. Instead of paying the required down payment in one lump sum, customers can spread the cost through UnionBank PayEasy installments while still availing themselves of a conventional vehicle loan.
The move comes as carmakers and banks increasingly work together to lower the upfront cost of vehicle purchases, particularly as demand grows for hybrid and electrified models that typically carry higher price tags than conventional vehicles.
“Our focus at Kia Philippines remains rooted in delivering purposeful innovation and exceptional service that integrates into the lives of Filipino motorists,” said Kia Philippines Managing Director Jay Lopez.
UnionBank Executive Vice President and Cards and Consumer Loans Head Mukul Sukhani said the partnership broadens the bank’s consumer financing portfolio by giving customers more convenient and flexible ways to finance major purchases.
“Our collaboration with Kia Philippines comes at the perfect time as we continue empowering our UnionBank customers with more accessible and convenient financial solutions through UnionBank PayEasy and UnionBank Auto Loan,” Sukhani said.
The financing program initially covers 19 Kia dealerships nationwide and supports the automaker’s full portfolio of hybrid, electric and internal combustion engine vehicles. The initiative reflects a broader industry push to combine vehicle financing with flexible payment solutions as competition in the Philippine automotive market continues to intensify.
