expiredDC13 posted Jun 06, 2023 06:25 PM
Item 1 of 7
Item 1 of 7
expiredDC13 posted Jun 06, 2023 06:25 PM
2023 Hyundai IONIQ 5 SE Standard Range SUV Lease w/ $7,500 EV Lease Bonus
for 36-Mo. w/ $5k Down Payment$332/ Mo.
Hyundai
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In general, they are difficult to replicate and are just marketing campaigns to get you into the dealership.
But for clarity, attached is a breakdown of how you get to $332 monthly + $5008 due at signing with a Net cap cost of $31,259.
Note: You will still have to pay the Dealer Doc fee ($85), CA Lic/Reg ($562), + sales tax on your monthly payment.
Your total cost to lease this car for 36 months would be ~$24,000 (at 7.75% tax) + $400 disposition fee.
Lease deals used to be pretty nice to a point where the lease to buy ended up at pretty nice price points. During COVID, Dealers would advertise these nice low numbers but if you look at the fine print, the end of lease buyout would be really high (so basically the dealer never loses and still profits).
Here, at least the Customer does come out on top (potentially depending on various factors) and all things considered, the net "savings" is around $1,342 if you kept your lease until the end. This isn't factoring the lease turn in fees and any other fees (wear and tear, etc.). As someone pointed, the true monthly cost of this vehicle is $462 which isn't "terrible" for a $42.8K car, but not great either (thinking of the nice Infiniti / BMW deals of the past).
For reference, I leased a $72K Volvo XC90 in 2020 for $597 a month with $3K down + $6K MSD. Or before that a $50K Infiniti Q60 for $300 a month $0 down.
OTOH - Per another thread, we did buy a Bolt EV recently (2LT) and was able to find one "in transit" but not claimed. Dealership stuck with MSRP but at the table ended up trying to sell some "protection package" for $2,500. Negotiated that down to $850 which all said and done wasn't so bad given it auto renewed for 10 years and included "re-coating" the car, etc. We didn't know about the $500 EV charging credits so that was a plus (in lieu of a home charger installation). Was able to claim the entire $7,500 tax credit. A few dealers hours away were willing to add the "Supplier Discount" which I'm surprised my Company was part of the list which included another $500 off. I wouldn't compare it to a Tesla, but it ended up being larger than expected and nicer than expected especially at MSRP-ish.
=$16,960.
Comes out to $471 a month just to turn it in and get slammed with more fees - a certified pre-owned would be the same yet you have unlimited mileage and when the loan (not lease) is up you could sell it for ~$7,000. For those wondering about leasing vs owning.
It's almost as if car prices change.......Tesla dropped their prices of the Model Y by $13,000 in a day.
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When regenerative breaking is applied, the rear break lights don't turn on and there fore higher chance for rear end collision. Imagine you're going 60 and let your gass padel off, within few hundred feet the car will come to stop. Imagine whole time it was slowing down, rear break lights didn't turn on making next vehicle hit you.
Lease deals used to be pretty nice to a point where the lease to buy ended up at pretty nice price points. During COVID, Dealers would advertise these nice low numbers but if you look at the fine print, the end of lease buyout would be really high (so basically the dealer never loses and still profits).
Here, at least the Customer does come out on top (potentially depending on various factors) and all things considered, the net "savings" is around $1,342 if you kept your lease until the end. This isn't factoring the lease turn in fees and any other fees (wear and tear, etc.). As someone pointed, the true monthly cost of this vehicle is $462 which isn't "terrible" for a $42.8K car, but not great either (thinking of the nice Infiniti / BMW deals of the past).
For reference, I leased a $72K Volvo XC90 in 2020 for $597 a month with $3K down + $6K MSD. Or before that a $50K Infiniti Q60 for $300 a month $0 down.
OTOH - Per another thread, we did buy a Bolt EV recently (2LT) and was able to find one "in transit" but not claimed. Dealership stuck with MSRP but at the table ended up trying to sell some "protection package" for $2,500. Negotiated that down to $850 which all said and done wasn't so bad given it auto renewed for 10 years and included "re-coating" the car, etc. We didn't know about the $500 EV charging credits so that was a plus (in lieu of a home charger installation). Was able to claim the entire $7,500 tax credit. A few dealers hours away were willing to add the "Supplier Discount" which I'm surprised my Company was part of the list which included another $500 off. I wouldn't compare it to a Tesla, but it ended up being larger than expected and nicer than expected especially at MSRP-ish.
You can buy the lease out early, following states rules, and you avoid the rent charge/depreciation fees if you have the money. You don't have to add all the monthly payments together but you could if you want to turn in the lease at the end. There is a lot more information about this through ioniqforum.com
You do realize that nearly every car has parts from 3 top Tier1s...
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