What's the monthly payment when you refinance a 2009 Kia Spectra?
Nicholas Hinrichsen - Published: September 15, 2023
The monthly payment on a 2009 Kia Spectra with 158,562 miles is $70 at a 4.44% APR when you refinance.
We are assuming a vehicle with a market value of $3,786, a $0 downpayment, a credit score of 700 and a 60 months term. The payment can obviously vary by a large degree depending on the exact trim and mileage of the vehicle.
Auto loan refinance calculator
For your exact vehicle and credit score, take a look at the table above or enter your vehicle's details into our refinance calculator below:
How many miles are on the car?
Is this the right trim?
Is this the right engine?
Is this the right drive train?
What's your downpayment?
What's your loan term?
What's your credit score?
A fair payment for your [CAR] would be:
$999.9 per month
**Based on a loan of $3,786, FICO 700 and 60 months term.
The following table shows your monthly payments when you refinance:
781 - 850
661 - 780
601 - 660
501 - 600
300 - 500
What Credit Score do you need and when should you refinance your 2009 Kia Spectra?
You can refinance your 2009 Kia Spectra if you got your loan at the dealership and/or after you made your payments for 6 / 12 /18 months in time:
When you bought your 2009 Kia Spectra with a loan from the dealer, the dealer marked up your rate and received a referral fee from the lender. In theory, you could have saved money through refinancing the second you drove off the dealership lot!
And if you made all your payments diligently, your Credit Score improved. With an improved Credit Score, you qualify for a lower rate and can reduce your monthly 2009 Kia Spectra payments. Three clicks save you thousands.
Is it a good idea to refinance your 2009 Kia Spectra or will it hurt your credit?
Refinancing will not hurt your credit but, in fact, improve it over the course of time! The first step to refinancing your 2009 Kia Spectra is to check whether you qualify for a lower rate. We can do that through a soft credit pull, which won't hurt your credit.
Once you know whether you qualify for lower payments on your 2009 Kia Spectra, we will help you select a new lender and pay off your old loan. The new lender will indeed make an entry on your credit file, which might reduce your Credit Score marginally and for a couple of weeks.
Mid- to long-term, however, your Credit Score will improve drastically from the lower rate. Not only will your 2009 Kia Spectra payment be lower, you will also pay off your loan quicker and reduce your balance, which has a positive impact on your credit history.
What other 2009 Kia Spectra owners are paying
We performed a nationwide study and looked at thousands of 2009 Kia Spectra loans. On average, 2009 Kia Spectra owners who purchased their vehicle last year had a FICO of 614. For reference, the nationwide average score is 670.
The variance from the average American car owner is likely driven by the price point of the car at $7,469. We found that the average APR on a 2009 Kia Spectra loan is 15.42% over 41 months with a monthly payment of $251.
If the same 2009 Kia Spectra owner refinanced her auto loan, she could save $1,845 thanks to improving her credit score by as little as 35 points. For more context, take a look at our study Best way to lower your rate? Make your payments!
How we calculate your monthly 2009 Kia Spectra payments
Our auto loan refinance calculator estimates the monthly payments of your 2009 Kia Spectra the exact same way as any auto loan company would do. We wrote an article that explains all the nuances around auto loans and refinancing and you can learn more about our auto loan refinance calculator here.
If you are not sure what trim, engine or drivetrain your 2009 Kia Spectra has, take a look at the vehicle brochure.
Monthly payments for similar Kia Spectra
1. Refinance a 2009 Kia Spectra
Resources and auto loan refinance
Feel free to contact us for questions or feedback. Unlike all the other auto refinance lenders, we are the only fully digital platform that lets car owners like you refinance their cars from the comfort of their own home. No need to set a foot in a bank or credit union. You can lower your rate or get cash in as little as 20 seconds.
Curious how much you can save today? Follow three simple steps to refinance your [CAR] loan, get approved in seconds and save thousands in minutes.