Kia Niro EV on long-term rental at €337/month, good or bad deal?

Anyone interested in electric cars generally leans towards the Kia-Hyundai group. The Korean company already has a small advantage over some other manufacturers: the new Niro EV is no exception. It is displayed from €337/month and we will see if this financing offer is worth it.

In the world of 100% electric SUVs, there are several well-known French models such as the Peugeot e-2008 or the Renault Mégane E-Tech, there are the Germans with the EQA and other BMW iX1s, there are the Americans with the Tesla Model Y and Model X. and then there are the Koreans with the electric Hyundai Kona in particular, and its technical cousin, the Kia Niro EV.

The Niro EV was recently presented with an interesting new generation that should, in all likelihood, still take home the point compared to the competition. More than correct autonomy, good quality finishes, sufficient power, very low prices, hyper-complete standard equipment… There is no shortage of superlatives for this Niro EV. On the Kia website it is already displayed with attractive rents, as the cheapest offer starts at €337/month.

After having deciphered the offer for the Škoda Enyaq iV available from 299 euros/month, the Kia EV6 from 297 euros/month, the MG ZS EV at 99 euros/month, the Peugeot e-208 at 149 euros /month, the Renault Mégane E-Tech at 248 euros/month, the Volkswagen ID.3 at 229 euros/month, the Renault Twingo E-Tech at 79 euros/month, the Tesla Model 3 at less than 400 euros/month, the Mini Electric from 350 euros/month, the Hyundai Kona Electric from 139 euros/month, the Fiat 500 electric from 109 euros/month, the Nissan Leaf from 99 euros/month, the Volkswagen ID. 4 from €309/month, the Opel Corsa- and from €145/month, the Opel Mokka-e from €180/month, is the Kia e-Niro’s turn at €337/month.

Which model of the Kia Niro EV is offered at 337 euros per month?

As with most “starting at” financing offers, this is the input model. At Kia, it is the “Motion” trim level that takes on this role and, as you can see in the list of main equipment below, it is already quite complete for an entry model. As usual with Kia.

  • Hands-free entry and departure;
  • Assistance in line maintenance;
  • Reverse camera with dynamic guide lines;
  • automatic air conditioning;
  • 10.25-inch 100% digital instrument panel;
  • 8-inch touchscreen with Android Auto and Apple CarPlay compatibility;
  • 17-inch alloy wheels;
  • Adaptive cruise control;
  • Autonomous emergency braking system with car/pedestrian/cyclist detection.

Kia Niro EV 2022

Honestly, not much is missing among the must-haves for a modern electric car. For €367/month, that is, €30 more per month compared to the model offered by Kia, you can also upgrade to the premium “Active” finish that adds these features:

  • Active Road Driving Assistance;
  • Front parking sensors;
  • 10.25-inch touchscreen, navigation system with European maps and Kia Connect Live connected services;
  • Ceiling rails;
  • Electrically folding exterior mirrors;
  • Mixed artificial leather fabric upholstery;
  • Heated front seats and steering wheel.

All Kia Niro EVs are equipped with an electrical 204 horsepower and 255 Nm of torque. The battery has a useful capacity of 64.8 kWh and can perform 460 kilometers according to the WLTP cycle. Only downside, the model covered by this offer is “Celestial White”, choosing another color will immediately lead to an increase in monthly fees. The heat pump with V2D charger is not available as standard (optional for 1,400 euros and to be included in the rental in case of financing).

Kia Niro EV 2022

What are the conditions to be eligible for the Kia Niro EV LLD offer?

This is a long-term rental offer in 49 months and 40,000 kilometers per year. The website indicates that the offer of 337 euros per month is subject to a contribution of 3,000 euros. The contribution is 11,500 euros at the base, but it is absorbed by the ecological bonus of 6,000 euros and the conversion bonus of 2,500 euros, which therefore requires the scrapping of an old vehicle.

To qualify for the conversion bonus, an older diesel or gasoline model must be discarded. The old scrapped vehicle must be a car or van with a gross vehicle weight not exceeding 3500 kg. The date of first registration must be before 2011 for diesel and before 2006 for gasoline.

The vehicle must have belonged to the beneficiary for at least one year, and the reference taxable income per share indicated in the notification of your previous year’s income must be less than or equal to €13,489.

How much will the Kia Niro EV LLD offer cost?

More than four years of long-term rental, your Niro EV will cost € 19,176. Kia displays its car from 44,490 euros on its website, ecological bonus of 6,000 euros and conversion bonus of 2,500 euros not deducted. This gives us, once deductions have been made, a model displayed at list price in €35,990. You still need to be eligible for the conversion bonus, because as you’ve seen, that won’t necessarily be the case for everyone.

From this price, you will pay over the four years of rent 53.2% of the price of your car. This is generally more than the four-year discount for this type of car, especially as demand for electric continues to rise. Admittedly, second-hand models will degrade over the next few years, but not as quickly as a thermal model today. As the offer is not an LOA, there is no option to repurchase the vehicle. It will therefore be necessary to return the car at the end of the financing.

Also pay attention to restoration costs that can be expensive at the time of return. We advise you to do this before at a bodybuilder, it will cost you less than at your dealership in general. If you take a vehicle back to your dealer after your LLD, they will also be a little less careful about repair costs.

Kia Niro EV 2022

What are the benefits of the Kia Niro EV LLD offer?

The car itself is a plus. Hard to find fault with the new Kia Niro EV, even if, aesthetically, it’s true that it’s a little divisive. Technically, Koreans know how to make electric cars, and they even do them well, and few competitors can boast of having a car of this level.

To make matters worse for the competition, the Niro EV is very well equipped at the entry level. Going to the top of the range is really having a little more on the equipment side, but right from the start, in the “Motion” finish, the main is there. We cannot say that this is the case for all electric SUVs in our section.

What are the disadvantages of the Kia Niro EV’s LLD offer?

Compared to the other models that we sometimes present to you, in fact, the Kia Niro EV has one of the highest access prices, but when we analyze the services offered in depth, this is justified. In contrast, it is true that the price could have been more containedbelow the threshold of €300/month in particular, as by adding up all the monthly fees at the end of the funding in addition to the contribution, you still paid more than 50% of the price of a car that will not be yours.

This is the case everywhere, of course, but overall the residual value could have been higher to pull the monthly fees even higher, especially since this product, even in four years, at the end of the financing, should still sell like hotcakes.

Second drawback: the offer is immediately conditioned by the conversion bonus, an aid to which few customers are eligible. Without this help, the contribution is almost doubled, or it will be absorbed by the monthly fees, but it will also skyrocket (about 52 euros more per month according to our calculations, keeping the same contribution of 3,000 euros).

Too bad the LLD models are not affected by Kia’s current offering. For any customer of a new 100% electric Niro EV ordered between 1er April 2022 and September 30, 2022 on the Kia France network, the latter benefits from a free one-year subscription to the Kia Charge Plus and Ionity Power services.

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