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NEW ORLEANS - Kia Motors America Inc. will have a dedicated finance arm operating nationwide by June, dealers learned at their make meeting.
Kia Motors Finance will not be a true captive finance company but a private-label offshoot of Hyundai Motor Finance Co., said Peter Butterfield, president of Kia Motors of America Inc.
Kia Motors Finance will handle mostly A- and B-level credit. Lower-level credit customers will be handled by AmeriCredit Corp., a large subprime lender, Butterfield said.
Hyundai Motor Finance has serviced Kia paper since the middle of 2004, but the change will create an official private-label...