Kia's Assured Buyback Promises Up to 75% of a Car's Value After Three Years
Plans run three to five years with up to 1,00,000 km. Which Kias qualify, who runs the programme, and what buyers should check before signing.
Kia India buyers can now fix their car's resale value on the day they buy it. The assured value is up to 75% after three years for petrol, diesel, CNG and hybrid models.
For Kia's electric cars, the best assured value is 70% after three years. Kia widened its Assured Buyback Programme to its whole mainstream range on 9 October, and highlighted it again in its 1 November sales release.
What the Plans Offer
| Plan detail | Petrol, diesel, CNG and hybrid | Electric |
|---|---|---|
| Best assured value | 75% after 3 years | 70% after 3 years |
| Plan length | 3, 4 or 5 years | 3 or 4 years |
| Distance per year | 10,000, 15,000 or 20,000 km | 10,000, 15,000 or 20,000 km |
| Total distance cap | 1,00,000 km | 1,00,000 km |
The assured value, or residual value, is the share of the car's worth that is guaranteed to the owner when the plan ends.
Which Kias Qualify
The programme covers the Sonet, Syros, Seltos and Sorento SUVs and the Carens and Carens Clavis MPVs. That includes the two models Kia also sells in electric form, the Syros and the Carens Clavis.
Kia's release does not name the Carnival, EV6 or EV9.
How It Works
Buyers sign up when they buy the car, through an authorised Kia dealer. When the plan ends, the owner can sell the car back for the assured amount, under the terms of the agreement.
The programme is run by an outside programme partner, not by Kia itself. The buyer's agreement, covering eligibility, valuation and settlement, is with that partner. Kia's role is to offer access through its dealers.
What Buyers Should Check
Kia has published only the best case of each figure. Its release does not list the assured value for longer plans or higher yearly distances, so buyers need the exact percentage for their own plan from the dealer.
The release also does not say which price the percentage applies to, or what condition the car must be in when it is handed back. Those terms decide how much an owner actually receives.
Kia's sales and marketing head, Atul Sood, said buyers increasingly want certainty about a car's future value when they buy it. The offer comes in a strong run for the brand, which set a second straight sales record in October.