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.
This is a YMMV take. I used to agree with that sentiment on all dealerships, but the Fox/Hyundai dealership near me has made serious inroads toward changing my opinion there.
It took me 14 months of visits every 1000 miles but I was eventually able to get the service team there to confirm the oil leak in my Sonata's engine without paying a dime. Despite it being out of warranty they did a one-time goodwill gesture for me and 80% of the engine replacement cost was covered. When I got the final invoice that turned out to be something more like 90%.
They've all but guaranteed I'll be buying an Ioniq 5 from them at some point. I have nothing but respect for the service they've provided me.
Last year there was a car bubble. 2500 dealer DISCOUNT is possible. Didn't you see Tesla reduced their prices by something like 15k?
Dealers aren't budging on EV's and Hybrids. While these deals are advertised, it's based on a build that may not be available.
I was talking to a dealer I know recently who told me about a car that was on a lease advertisement, but there was only like 10 made with that build in the nation. And the "Deals" are usually based on that exact build. The idea is to get you in the door, and buy the ones in stock that are of a high build/cost.
Can someone explain this to me-
Adding all the lease amounts and the buyout amount totals to the actual MSRP of the vehicle, and the disclaimer says that the 7500 ev incentive is already included in the leasing amount, that doesn't make sense to me, everything adds up to msrp, which it shouldn't since the 7500 is supposed to reduce the monthly or buyout price by 7500 in total.
Taxes, Interest and other fees and other add-ons, plus really...
What you are noticing is that there's really no deal here...
But, to be honest, EV's should be leased and not bought.
The resale values on them after 5 years are fairly poor due to the fact people start wondering about the battery life, plus the fact the "subscription" model is heavy on EV's, ether way you are "leasing" the vehicle...
On most cars I'm against leases, but in the case of EV's.... I'm for it.
LOL, $5K down. That's a dumb thing to do. Whoever does something like that has no business leasing.
Only do this to buy out the lease immediately to get that $7,500, which you cannot on a purchase.
More misinformation here....no one gets $7500 to buy out a lease. In a lease, the dealer is allowed to take the $7500 credit and not the end user (consumer). A consumer is only allowed the take the tax credit in a purchase. So what do the dealers do in a lease? They use it to reduce the cap cost (similar to a purchase price of a vehicle) and therefore able to reduce the monthly payment in a lease. For example, a vehicle has an MSRP of $50,000. In a lease, the dealer (on paper) can reduce the cap cost to $42,500 and use this figure as the starting point to set a lease program along with the money factor (interest) and residual (value at end of the lease). If you sign a lease on the EV, for example, and you decide not to keep it. You have to call in to find your payoff cost and how much you can sell it for to Carmax or Cavana, or pay if off yourself. It's highly unlikely that you will have any equity after 6 months into a lease and most people are often upside down if they do not know how to negotitate the cap cost.
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)
GM and Ford will be using Tesla charging sites soon. No sharing with Hyundai yet.
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You only pay tax on the monthly lease payments and then on the residual balance if you buyout.
State laws on lease taxes vary from state to state. There are a few states out there that only charge sales tax on the portion of the depreciation you pay for in the lease. Most states however, charge you sales tax up front for the MSRP (or negotiated price) and once again if you purchase the vehicle at the end of the lease (for the residual value).
As someone who leased a 2012 Volt I can tell you that leasing is the ONLY way I would buy an EV, even though I would get double taxed. The residual values in leases for EVs, IMO, are optimistic. My residual value of my Volt was 24K. I offered them 15K and they refused. I followed the VIN after I turned it in and a dealership in NC for sale for 18K.
This is not universally true. In my family we almost always have daily errands and luckily electrify america has stations conveniently located so we plug in while we run errands and most times leave with a full charge due to the fast charging. In fact, we've had to run out to unplug to avoid the idle fees after the 10 min grace period because our errand was taking longer than 30 min.
We usually charge to 80% with fast charge then plug in at home at 110V for overnight full charge to 100%, to prolong battery life.
Well, you still didn't go to the store specifically to charge though right? Instead already conveniently there, so I think we might still be on the same page still. The point I was trying to make is if you're driving somewhere specifically so you can charge because you can't charge at home is what I meant when EV probably not being the best choice.
BTW, I thought most EVs you're supposed to avoid charging to 100% unless you need it for a trip? At least it's that way with Teslas. Like cell phones, avoiding the extremes of the battery range 0% and 100% is supposed to reduce strain on battery and extend its life. Tesla vehicles supposedly will even warn you about it if you do it repeatedly (so I've read, but haven't seen).
BTW, I thought most EVs you're supposed to avoid charging to 100% unless you need it for a trip? At least it's that way with Teslas. Like cell phones, avoiding the extremes of the battery range 0% and 100% is supposed to reduce strain on battery and extend its life. Tesla vehicles supposedly will even warn you about it if you do it repeatedly (so I've read, but haven't seen).
Depends on the battery tech.... For most EV batteries you're correct, you don't want it to sit at a super high or super low state of charge for hours and hours.... (charging to 100% is fine if it gets to 100% then you go drive it a bunch- so before a trip is good, just not daily).
But cars like the RWD model 3, using LFP cells, are fine to charge daily to 100%
To be fair, most service, if it's not a luxury brand that you over pay for, is all garbage.
I've had Hyundai and Honda service recently, and Chevy's and Tesla's service are equally as garbage or even worse. Now, my experience at Porsche, BMW, and Mercedes all have been excellent in comparison.
I have to give a shootout to a non luxury brand: never had anything but good experiences at different Subaru dealers. Maybe I got lucky, but it's honestly a big reason why I still own one today.
so how many experiences have you had??? I'm guessing zero based on your bold statement that they are not ready. my one experience that spanned several years (with an early iteration no less) is better than your likely ZERO experience.
You know what they say about assumptions.
I have plenty of experience. I've owned a Model Y for three years and had a Leaf for four before that.
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.
I have shopped this car and the 2 dealers in Portland Oregon were not passing along any saving on a lease but the dealership in Salem Oregon was . Look around and you can get this. These cars seem to be plentiful and they will need to move them.
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Jun 9, 2023 1:18 AM
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This is not true, I've tested my Ioniq with my wife driving behind me and a sudden deceleration even at 15 mph turns the break light on. A sudden deceleration at 10 and under did not and I don't think it is required at that low speed. A gradual deceleration does not as it is akin to coasting in a gas car.
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It took me 14 months of visits every 1000 miles but I was eventually able to get the service team there to confirm the oil leak in my Sonata's engine without paying a dime. Despite it being out of warranty they did a one-time goodwill gesture for me and 80% of the engine replacement cost was covered. When I got the final invoice that turned out to be something more like 90%.
They've all but guaranteed I'll be buying an Ioniq 5 from them at some point. I have nothing but respect for the service they've provided me.
I was talking to a dealer I know recently who told me about a car that was on a lease advertisement, but there was only like 10 made with that build in the nation. And the "Deals" are usually based on that exact build. The idea is to get you in the door, and buy the ones in stock that are of a high build/cost.
Adding all the lease amounts and the buyout amount totals to the actual MSRP of the vehicle, and the disclaimer says that the 7500 ev incentive is already included in the leasing amount, that doesn't make sense to me, everything adds up to msrp, which it shouldn't since the 7500 is supposed to reduce the monthly or buyout price by 7500 in total.
What you are noticing is that there's really no deal here...
The resale values on them after 5 years are fairly poor due to the fact people start wondering about the battery life, plus the fact the "subscription" model is heavy on EV's, ether way you are "leasing" the vehicle...
On most cars I'm against leases, but in the case of EV's.... I'm for it.
Cars still being made with CCS in North America on the way to becoming the betamax of EVs.
Only do this to buy out the lease immediately to get that $7,500, which you cannot on a purchase.
More misinformation here....no one gets $7500 to buy out a lease. In a lease, the dealer is allowed to take the $7500 credit and not the end user (consumer). A consumer is only allowed the take the tax credit in a purchase. So what do the dealers do in a lease? They use it to reduce the cap cost (similar to a purchase price of a vehicle) and therefore able to reduce the monthly payment in a lease. For example, a vehicle has an MSRP of $50,000. In a lease, the dealer (on paper) can reduce the cap cost to $42,500 and use this figure as the starting point to set a lease program along with the money factor (interest) and residual (value at end of the lease). If you sign a lease on the EV, for example, and you decide not to keep it. You have to call in to find your payoff cost and how much you can sell it for to Carmax or Cavana, or pay if off yourself. It's highly unlikely that you will have any equity after 6 months into a lease and most people are often upside down if they do not know how to negotitate the cap cost.
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As someone who leased a 2012 Volt I can tell you that leasing is the ONLY way I would buy an EV, even though I would get double taxed. The residual values in leases for EVs, IMO, are optimistic. My residual value of my Volt was 24K. I offered them 15K and they refused. I followed the VIN after I turned it in and a dealership in NC for sale for 18K.
We usually charge to 80% with fast charge then plug in at home at 110V for overnight full charge to 100%, to prolong battery life.
BTW, I thought most EVs you're supposed to avoid charging to 100% unless you need it for a trip? At least it's that way with Teslas. Like cell phones, avoiding the extremes of the battery range 0% and 100% is supposed to reduce strain on battery and extend its life. Tesla vehicles supposedly will even warn you about it if you do it repeatedly (so I've read, but haven't seen).
Depends on the battery tech.... For most EV batteries you're correct, you don't want it to sit at a super high or super low state of charge for hours and hours.... (charging to 100% is fine if it gets to 100% then you go drive it a bunch- so before a trip is good, just not daily).
But cars like the RWD model 3, using LFP cells, are fine to charge daily to 100%
I've had Hyundai and Honda service recently, and Chevy's and Tesla's service are equally as garbage or even worse. Now, my experience at Porsche, BMW, and Mercedes all have been excellent in comparison.
I have plenty of experience. I've owned a Model Y for three years and had a Leaf for four before that.
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