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Kia car loans customers may have to borrow more

People taking out car loans for Kia models from next month may have to borrow more than they were expecting.

People taking out car loans for Kia models from next month may have to borrow more than they were expecting.

The manufacturer has revealed a series of prices increases will be implemented from April 1st.

It explained the move was necessary as a result of the continued weakness of the pound.

The cost of most models will go up by about three per cent.

However, the Soul and Magentis will be exempt from the price increases.

Paul Philpott, Kia's managing director, said the company had resisted passing on rising costs to the customer for as long as possible.

He added: "The increase we are making now will be kept to an absolute minimum and still maintains Kia's competitive position in the market."

This comes after Ford also announced it would be raising its prices by an average of 3.75 per cent from the beginning of next month - again in response to the falling value of the pound against other currencies.


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