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.
Lower residual value also means you are 'financing' more depreciation so you get it from both ends.
But yes if you plan on buying it out right away neither should be a big deal.
However there are other fees that Im not sure is being captured here that is going to really eat into that $7500 credit.
Paying sales tax twice is one that is a rumor but Id like to get confirmation if that is actually true.
You only pay tax on the monthly lease payments and then on the residual balance if you buyout.
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.
hyundae dealers are the worst!
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Jun 7, 2023 4:38 AM
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from DotaW
:
In my understanding, I will be paying
$332 * 35 + $5000 + $24,815 = $41,435. How is it costing $31,259?
This deal is only really a deal if you buyout the lease immediately after taking possession of the car. The tax incentive (plus the $5000 down) counts as a capitalized cost reduction, so the buyout price ends up being $31k.
Out of pocket you end up paying about $36k before taxes, etc, for a $42k car.
Own one for 7 years no issues at all. Bought the second Hyundai 3 years ago zero issues yet. In my opinion Hyundai offer the best tech package for cheapest price.
"Lease a 2023 IONIQ 5 SE STANDARD RANGE AUTOMATIC TRANSMISSION RWD(50402REZ) for $332 per month for 36 months with $5,008 due at lease signing (lease offer shown includes application of $7,500 EV Lease Bonus). Excludes registration, tax, title and license. Closed end lease for 2023 IONIQ 5 SE STANDARD RANGE AUTOMATIC TRANSMISSION RWD(50402REZ) available from 6/1/2023 and 7/5/2023, to well-qualified lessees approved by Hyundai Motor Finance. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. Offer shown based on $5,008 due at lease signing (includes $332 first payment and $4,676 capitalized cost reduction). No security deposit required. MSRP $42,785 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). 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 responsible for third-party fees. Third-party fees vary by state or locality. 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 limitations. CO, IA, KS, ME, OK, WV, and WY: The amount of 2 times the base monthly lease payment or $400, whichever is less. IN and SC: The amount of 3 times the base monthly lease payment or $400, whichever is less. WI: The amount of the base monthly lease payment or $400, whichever is less. Must take new retail delivery on vehicle from dealer stock by 7/5/2023. Special Retail Balloon offer also available in the states of AL, AR, LA, MS, NM, OK, TN, TX. EV Lease Bonus not compatible with other offers unless specified and not available for cash. See your local Hyundai dealer for details."
In my understanding, I will be paying
$332 * 35 + $5000 + $24,815 = $41,435. How is it costing $31,259?
The $24K is the residual value at the end of lease term. You don't wait until the end. You buy right after your lease starts. Dealers would recommend waiting for three months, but multiple posts on reddit confirm that you don't have to wait to buyout.
I family members in California that drive Teslas. How come they complain about the amount of time they have to wait to charge their vehicle when they drive San Francisco to LA and vice versa? They make it sound like a 5 hour drive on a Tesla is an inconvenience?
Strange, my best friend has a long range Model Y and drives from the Bay Area to LA to visit his family almost once a month and he makes it sound so easy. He leaves around 8am, makes a stop somewhere there is a super charger to eat an early lunch (usually 45min) and then continues the drive with it charged back up to 80-90%.
Good luck finding any dealer who is not BS and sleazebag .
I booked Ford lightning.
I started getting text messages and emails from crappy dealers.
Hey we got your lightning, come and pick it up just for additional 30K some dealers added around 40K markup.
I complained to Ford and they told me they can't do much about it.
sad to say but be careful when you do lease. Make sure what is your initial payment and monthly payment. In my experience with them, with $7500 credit ,lease monthly payment and initial payment was more than before this credit.( I did have quotation earlier this year), and also the residual value after lease termination(Buy out price) was too high. This is all because they did some math trick that you see $-7500 but what they did is applying high money factor which was equivalently over 10% of interest rate. what a shame on Hyundai Dealer.
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But yes if you plan on buying it out right away neither should be a big deal.
However there are other fees that Im not sure is being captured here that is going to really eat into that $7500 credit.
Paying sales tax twice is one that is a rumor but Id like to get confirmation if that is actually true.
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$332 * 35 + $5000 + $24,815 = $41,435. How is it costing $31,259?
Out of pocket you end up paying about $36k before taxes, etc, for a $42k car.
MSRP of $42,785 - $7,500 EV Lease Bonus should result in a price of $35,285 so don't understand where $31,259 comes from
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"Lease a 2023 IONIQ 5 SE STANDARD RANGE AUTOMATIC TRANSMISSION RWD(50402REZ) for $332 per month for 36 months with $5,008 due at lease signing (lease offer shown includes application of $7,500 EV Lease Bonus). Excludes registration, tax, title and license. Closed end lease for 2023 IONIQ 5 SE STANDARD RANGE AUTOMATIC TRANSMISSION RWD(50402REZ) available from 6/1/2023 and 7/5/2023, to well-qualified lessees approved by Hyundai Motor Finance. Not all lessees will qualify. Higher lease rates apply for lessees with lower credit ratings. Offer shown based on $5,008 due at lease signing (includes $332 first payment and $4,676 capitalized cost reduction). No security deposit required. MSRP $42,785 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). 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 responsible for third-party fees. Third-party fees vary by state or locality. 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 limitations. CO, IA, KS, ME, OK, WV, and WY: The amount of 2 times the base monthly lease payment or $400, whichever is less. IN and SC: The amount of 3 times the base monthly lease payment or $400, whichever is less. WI: The amount of the base monthly lease payment or $400, whichever is less. Must take new retail delivery on vehicle from dealer stock by 7/5/2023. Special Retail Balloon offer also available in the states of AL, AR, LA, MS, NM, OK, TN, TX. EV Lease Bonus not compatible with other offers unless specified and not available for cash. See your local Hyundai dealer for details."
In my understanding, I will be paying
$332 * 35 + $5000 + $24,815 = $41,435. How is it costing $31,259?
MSRP
$52,730
Retail Bonus CashExp: 07/05/2023
- $5,000
Dealer Discount
- $2,500
Price
$45,230
Plus $500 to $400 off if First responders OR Military OR Collage grad
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It'd be the Secret Service, not the FBI, on matters of fake currency.
I booked Ford lightning.
I started getting text messages and emails from crappy dealers.
Hey we got your lightning, come and pick it up just for additional 30K some dealers added around 40K markup.
I complained to Ford and they told me they can't do much about it.
SoCal Tustin Hyundai website showing discount as below.
MSRP
$52,730
Retail Bonus CashExp: 07/05/2023
- $5,000
Dealer Discount
- $2,500
Price
$45,230
Plus $500 to $400 off if First responders OR Military OR Collage grad
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