Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings.
No security deposit required.
Includes application of $7,500 EV Lease Bonus resulting in a net capitalized cost of of $31,259.
Net capitalized cost includes $650 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $11,952. Option to purchase at lease end $24,815.
Lessee is also responsible for insurance, maintenance, repairs, $.20 per mile over 10,000 miles/year, excess wear, and a $400 disposition fee. Disposition fee of $400 applies in all states except in CO, IN, IA, KS, ME, OK, SC, WI, WV, and WY, where disposition fee is subject to state law
Refer to forum thread for additional offers and discussion from the community regarding this offer.
This collaborative space allows users to contribute additional information, tips, and insights to enhance the original deal post. Feel free to share your knowledge and help fellow shoppers make informed decisions.
Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings.
No security deposit required.
Includes application of $7,500 EV Lease Bonus resulting in a net capitalized cost of of $31,259.
Net capitalized cost includes $650 acquisition fee. Dealer contribution may vary and could affect actual lease payment. Total monthly payments $11,952. Option to purchase at lease end $24,815.
Lessee is also responsible for insurance, maintenance, repairs, $.20 per mile over 10,000 miles/year, excess wear, and a $400 disposition fee. Disposition fee of $400 applies in all states except in CO, IN, IA, KS, ME, OK, SC, WI, WV, and WY, where disposition fee is subject to state law
Refer to forum thread for additional offers and discussion from the community regarding this offer.
Good luck finding a Hyundai dealership that isn't marking up 7.5k to negate the credit. Tried to buy one last year and they marked up anywhere from 2k minimum to 8k with add-ons.
Hyundai actually found the issue, it was an app that sent a bunch of information/stayed connected when the car is off. Teslas have a worse issue which is phantom drain, since the car stays connected for connectivity/app usage it drains the main drive battery. Ends up making the car horribly inefficient. People come back to their cars with way less drivable range.
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from darius11
:
Combustion. They wore me out last year with their nonsense and over sticker charges. There have been many Ioniq 5s and 6s sitting a while on the local lot since the credit went away. Got a RAV4 Prime instead.
I browsed the internet site and see a bunch in my area. But the price says "Values are based on MSRP. Excludes taxes, fees and adjustments. Contact Dealer for more accurate price". That statement alone totally turned me off, and I closed the browser and stopped looking at Hyundai. No way I'm going to "Contact Dealer for accurate price".
I'm willing to bet that the tons of Ioniq5's I see locally would be snapped up if they sold them like Tesla. By forcing people to go to the Dealership to see the "accurate price", many people will be turned off and simply go buy a Tesla on their iPhone in like 5 minutes with transparent pricing.
They work just fine. Most people charge 100% of the time at home. If you need to Fast Charge daily then an EV isn't the best choice.
I tell people this all the time too. I still haven't been to a public charging station in the past 2 years unless I already happened to be there for something else. If you're not planning on charging 90-100% at home, EV isn't the best choice.
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from anhdongtx
:
Took me 10 mins to buy a Tesla
Take days to find this car and hours to negotiate…and probably feel ripped off at the end…forget it
Yeah, I'm not a fan of the "new" Elon Musk, but F these slimy dealers. F each one of them. I'd rather give my money to Tesla than deal with these bottom dwellers. Car manufacturers need to end this bs system, otherwise they will just keep shooting themselves in the foot on their way to becoming obsolete.
Yeah, I'm not a fan of the "new" Elon Musk, but F these slimy dealers. F each one of them. I'd rather give my money to Tesla than deal with these bottom dwellers. Car manufacturers need to end this bs system, otherwise they will just keep shooting themselves in the foot on their way to becoming obsolete.
Good luck finding a (working) charger that supports 800v. Not a Tesla fanboy, but the charging network outside of Tesla is meh. (I own a model 3 and a ccs converter)
West coast here, there are dozens of them litter all over the highways including the 350KW ones. Not sure where you live
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from marcos6
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This * 1000
NADA has made it nearly impossible for manufacturers to sell directly to consumers in many states. we all hate dealerships, but lobbying at the state level has made car dealers extremely powerful and rich (especially in the last year).
that said, i've called around a few hyundai dealers in socal today and they are all trying to move their ioniq 5s off the lot. they were all aware (and supportive) of the lease + immediate buyout deal, though some of them shared a few hiddent/not-well-known costs of paying taxes twice and lease buyout fees. it seems like a good deal if you're looking at an EV now and want to save a few bucks before the new models come in.
Some lenders, such as Hyundai Motor Finance, lowered the lease residual value and increased the money factor (the interest rate for a lease) upon offering the $7,500 lease incentive, resulting in minimal changes to the monthly payment.
Money factor does not really matter if you plan to buy it up right away though. Only the cap cost really matters I believe.
Of course, if you plan to see to the end of the lease term, then yes, it matters and matters greatly. However, if you are on the sidelines because Hyundai lost $7500 tax credit, then this is roundabout way of getting the most of the credit.
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I think $31k cap cost is pretty optimistic. I'm guessing that means you're getting a deal under MSRP, then you want to put no money down when you sign the lease, so those fees, first payment, etc. will eat into the rebate. I don't know what it's like out there in other states, but when I looked at the Ioniq 5, which is a great car, along with the Kia EV6, there were dealer add-ons and demand charges. I could find deals at or near MSRP for volume dealers.
But if you can't get any government incentives, this is your best bet. The only hiccup of course is having to deal with the dealership. Hyundai strikes me as a decent product that is let down by their dealers. Also, the laws of Florida require you to do a lease buyout through a dealership, which means you will likely have to deal with a stealership and tacked on fees. Just an FYI to the people in that poor state.
Keep an eye on the Tesla Model 3 prices, there is an updated design on the horizon, and I'm sure they will try to deal with clearing out stock/flagging demand on the current model, especially since the updated design is the most major improvement yet.
Speaking of updated designs, if you don't mind a basic EV, check out a Kona EV. They're updating that model this year and dealerships are more apt to go under MSRP for this model, especially since it's pretty unknown in the USA. With the lease buyout loophole most people (who wouldn't be able to get any gov't incentives) are looking at decent EV at or under $30k all told. That's about what you pay for a Bolt, which I don't think is a better EV.
Last edited by count0 June 6, 2023 at 08:18 PM.
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I'm willing to bet that the tons of Ioniq5's I see locally would be snapped up if they sold them like Tesla. By forcing people to go to the Dealership to see the "accurate price", many people will be turned off and simply go buy a Tesla on their iPhone in like 5 minutes with transparent pricing.
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Take days to find this car and hours to negotiate…and probably feel ripped off at the end…forget it
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Take days to find this car and hours to negotiate…and probably feel ripped off at the end…forget it
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this was a great read: https://slate.com/news-and-politi...antis.
that said, i've called around a few hyundai dealers in socal today and they are all trying to move their ioniq 5s off the lot. they were all aware (and supportive) of the lease + immediate buyout deal, though some of them shared a few hiddent/not-well-known costs of paying taxes twice and lease buyout fees. it seems like a good deal if you're looking at an EV now and want to save a few bucks before the new models come in.
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https://www.thedrive.co
Ask me how I know.
Also, good luck negotiating with the dealers and thinking you are getting these deals.
Dealerships in general are hell but Hyundai ones especially are a special breed.
Of course, if you plan to see to the end of the lease term, then yes, it matters and matters greatly. However, if you are on the sidelines because Hyundai lost $7500 tax credit, then this is roundabout way of getting the most of the credit.
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But if you can't get any government incentives, this is your best bet. The only hiccup of course is having to deal with the dealership. Hyundai strikes me as a decent product that is let down by their dealers. Also, the laws of Florida require you to do a lease buyout through a dealership, which means you will likely have to deal with a stealership and tacked on fees. Just an FYI to the people in that poor state.
Keep an eye on the Tesla Model 3 prices, there is an updated design on the horizon, and I'm sure they will try to deal with clearing out stock/flagging demand on the current model, especially since the updated design is the most major improvement yet.
Speaking of updated designs, if you don't mind a basic EV, check out a Kona EV. They're updating that model this year and dealerships are more apt to go under MSRP for this model, especially since it's pretty unknown in the USA. With the lease buyout loophole most people (who wouldn't be able to get any gov't incentives) are looking at decent EV at or under $30k all told. That's about what you pay for a Bolt, which I don't think is a better EV.
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