The KIA EV9 from €1007/month without down payment, a deceptive gift?

The very large 100% electric SUV KIA EV9 starts its promotions with an offer without a down payment. But is it worth it?

The KIA EV9 is a marketing frenzy. An XXL machine, as heavy as two elephants, somewhat bipolar with a hardly eco-responsible material consumption, yet with a 100% electric powertrain.

But this Cartesian and European reasoning is not the target audience for KIA. The average customer lies on the other side of the Atlantic, in the United States and Canada, where big cars and farmer pickups are in high demand.

However, the KIA EV9 has another merit: it breaks codes and gets people talking about it. And let’s admit that its design is particularly successful, balancing charisma and simplicity of lines. It remains to be seen whether one can maneuver it deftly in the city, as its size is not compatible with all parking lots. And even less so with street parking in cities like Paris, where the hourly rate will triple in September 2024 for electric vehicles weighing over 2 tons (1600 kg for thermal or hybrid vehicles).

An interesting offer?

When purchased, the KIA EV9 starts at 73,000 euros. Obviously, there is no ecological bonus or conversion premium… So, what is the commercial offer from KIA with the EV9 available from 1007 euros/month, and the ultimate argument, with no down payment?

This price applies to the entry-level version which has a small 204 horsepower engine powering the rear wheels. For dynamics, we’ll pass… Fortunately, the comfort is quite acceptable with a generous list of equipment.

The Long-Term Rental (LLD) lasts for 49 months and 60,000 kilometers. Without conducting long studies, it’s clear that the rental price will thus amount to 49,343 euros (at best, excluding any restoration discounts).

KIA is quite stingy with additional information. But after 4 years and 1 month of rental, the customer will have financed 67.5% of the vehicle’s base price. One could convince oneself that this is money not tied up that could have been used for something else or even to generate interest, but such a level of financing seems very high to us.

After 4 years of use and only 60,000 km driven, KIA would assess the residual value of its EV9 at 23,657 euros? That seems quite pessimistic. At Mobiwisy, we estimate it to be around 40,000 euros, which suggests that KIA will have raked in between 100,000 and 110,000 euros in revenue on a vehicle whose sale price was 73,000 euros before any mandatory dealership discount.

That seems quite expensive to us, whether the product is appealing or not.

If your desire is strong, the higher trims Earth and GT-Line are also available for rent at 1087 and 1207 euros per month, respectively.

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