Kia Picanto Financing: How much do you need to buy one?     

Since its global debut at the Frankfurt Auto Show in 2003, every generation of the Kia Picanto has so far managed to make it to our shores. Originally based on a shortened Hyundai Getz chassis, the first release of the Picanto was even offered with a 1.1-liter 3-cylinder turbocharged diesel for the European market.   

As small as the Picanto is, many people might be unaware of its connections to Europe

Although that was a missed opportunity, the subcompact hatchback continues to have other connections to the Old Continent. Apart from the name that’s commonly associated with picante (spicy) in Italian and Spanish, the current generation was penned by German automotive designer Peter Schreyer, renowned for his design contributions to the Audi TT.    

If your current requirements call for space-efficient urban transport, here’s how much you’ll need to set aside for your very own Kia Picanto.

Kia Picanto LX 1.0 MT  

Going for the entry-level variant gets you multi-reflector halogen headlamps surrounding the trademark tiger nose grille just above the gaping lower intake. Body color exterior mirrors kick off the rising beltline, with the front and wheel arches linked by a prominent crease along the base of the doors. Upright rear combination lamps flank the tailgate that’s accompanied by a rear spoiler, while the car sits on 14-inch steel wheels. 

Five occupants settle down on fabric seats in the interior

Interior amenities are pretty standard, with legible analog gauges behind the polyurethane steering wheel. Up to five occupants can fit inside on fabric seats, plus 255 liters of cargo space behind the rear bench. Power comes from a 1.0-liter 3-cylinder gasoline engine bringing 66 hp and 95 Nm of torque to the front wheels via a 5-speed manual gearbox. Safety features comprise a lone driver’s airbag and seatbelts all around.  

The spartan levels of kit result in a modest Php 590,000 sticker price, payable in 36 monthly installments of Php 16,501 on a downpayment of 20 percent or Php 118,000. Going for a 30 percent downpayment or Php 177,000 and extending the contract to 48 months entails a recurring bill of Php 11,620, while a full 60-month term only requires a regular bill of Php 9,956. 

Kia Picanto EX 1.2 MT

The midrange trim comes with front fog lamps and 14-inch alloy wheels as standard equipment. Intermittent front windshield wipers and a rear window defogger help maintain outward visibility on cold or rainy days. Drivers get vanity mirrors on their sun visor, and the dashboard is rendered in silver trim. The rear seats can be folded 60:40 to access the cargo bay, and the 7-inch touchscreen head unit offers a range of connectivity options.

Cargo capacity can be expanded by folding down the rear bench

There’s an increase in power by way of a 1.2-liter 4-cylinder mill making 83 hp and 122 Nm of torque, still mated to a manual gearbox. Anti-lock brakes are standard, along with an engine immobilizer and dual airbags.    

Pricing for the Picanto EX MT stands at Php 700,000, with a 30 percent downpayment or Php 210,000 bringing 48 monthly payments of Php 13,787. Buyers who opt for a 40 percent cash outlay or Php 280,000 can expect to pay Php 11,817 for the same period, or Php 10,125 for 60 months.  

Kia Picanto EX 1.2 AT

The top-of-the-line Picanto features audio and Bluetooth controls on the tilt-adjustable steering wheel, along with a 2.6-inch LCD screen on the instrument panel. Apart from the rear cargo bay, storage options include a console box, bottle holders, and seat back pockets on the front thrones. Power windows and power door locks are standard, as well as Apple CarPlay and Android Auto on the entertainment system. 

A 4-speed automatic channels the 1.2-liter engine’s output to the drive wheels, with Motor Driven Power Steering and MacPherson strut suspension making the Picanto EX AT agile on corners. ISOFix child seat anchors, child locks, and a rear camera are standard, as well as an anti-theft immobilizer system.       

The Picanto offers a choice of two engines for the Philippine market

Priced at Php 745,000, the Picanto EX AT carries an installment rate of Php 20,836 for 36 months with a 30 percent downpayment or Php 149,000. Doubling the cash to 40 percent or Php 298,000 brings down the amortization to Php 15,627, going as low as Php 12,577 for 48 months.  

As always, these are all estimates, exclusive of other costs such as maintenance, fuel, insurance, and registration at the end of the first three years of ownership. Your nearest Kia dealer will be able to give you a more accurate computation based on your current budget. 

Find more tips that add up to a great car ownership experience at Philkotse.com.