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.
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Dont lease a car if you want to buy it. If you want to buy it, then buy it. Why lease it? I have done leases for a long time. Zero fleeces. I dont like cap cost leases as I have never done one. If the car is totaled or stolen the cap money is lost. I dont know if there is a way to proetect that. Anyway if you did pay a cap cost you need to total everything and divide by 36 for the true monthly payment. I strongly suggest you go to leasehacker forums and read and stud before trying to lease any vehicle. Also top tier credit helps on a lease.
And that applies to every new car on the road today about sunshine and roses. See what happens when you take an Audi brand new to the dealer service dept that is known to be the greatest ever and they give you attitude. Or the Volvo dealer that scratches the car when its serviced, or the Lexus dealer, or Mercedes.
Our community has rated this post as helpful. If you agree, why not thank benuendos
Second - do not *ever* put money down on a lease to lower the monthly payment. You get into an accident and total your lease? That money is gone. You really want to risk dumping $5k plus down the drain?
Finally (but not really - that's what the website is for), in this environment get a Costco membership and go to dealers in their network. They have to legitimately offer a discount under MSRP, so no markup grifting. If you happen to live in a market that not awful anymore this probably isn't necessary if you are good at haggling, but if you're in somewhere like NY or Cali it can be a godsend
Oh! And make sure to pay attention to the section on Multiple Security Deposits (MSDs). It will save you a ton in the right circumstances
The best deal here is to lease it and as soon as you get your account settled, buyout the vehicle by financing it through a credit union at a low APR. That way, you pocket the 7500 credit which is not available by doing a retail purchase.
I wouldn't put any cash down on a lease, just do a basic 36/10k with your first month due at signing and buy it.
If you include the acquisition fee at the end: $17,647.04
If you include the buyout price for the total cost: $41,767.04
Even factoring in the EV credit does not help this deal with overall costs
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If you include the acquisition fee at the end: $17,647.04
If you include the buyout price for the total cost: $41,767.04
Even factoring in the EV credit does not help this deal with overall costs
I have leased cars for a long time. I have never seen so much talk about buying out the lease. Explain to me why the main goal is to buy it out? That sounds like those who have never leased. Not to meantion without very good credit your rates will be higher. The idea here due to the 7500 is to lease it ONLY and return it. The idea is that you are paying hopefully the exact depreciation of the car or less. The benefit here for some is lease not buy. I dont like CAP cost leases myself. I typically only like sign and drive.
So in other wards, you are waving your hands around to intentionally hide moving the goal posts to cover up your original incorrect statement.
So.. you wished your neighbor paid more than you?
The $7500 you're seeing here is a tax credit that is being issued to Hyundai that they're passing on to the consumer in order to sell the vehicle. The tax credit is for them "leasing" you an EV. If you go through a third party, who will also pass on the tax credit to you, then not only do you get the $7500, but you get the $5000 cash rebate as well.
You cannot get the tax credit on your own, because Hyundai does not meet the government requirements on their Ioniq 5, but since it's an EV they still qualify for the tax credit for leasing one.
But like I've already said, do it your own way and go through HMF if you think that's the right play. I'm not buying an Ioniq, but I decided to, I'm getting the whole $12,500, plus any other rebates and perks I can pull from it.
Also, thanks to markups.org, I found and bought another car at Brandfon Hyundai in West Haven, CT. They don't mark up their vehicles over MSRP. Was a bit of a hike to get there, but it was worth it.
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Also, these "mpg" calculations and announcements are bullshit too, especially with the current electricity prices. From my personal experience, with my driving pattern, the real saving was about $25-30/month (these days I'm working mostly remotely, refilling the tank of my Altima about twice a month).
And of course I do know how the EVs/Teslas fanboys reacts on these facts but I just couldn't keep silent
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