2023 Hyundai IONIQ 5 SE Standard Range SUV Lease w/ $7,500 EV Lease Bonus

Original Post

Many EV's who do not qualify for the federal tax credit due to the Inflation Reduction Act.

This post is to make shoppers (specifically EV shoppers) aware of the deals they can obtain on non-North American assembled EVs.This opens the options to much more desirable EV's that no longer qualified for the 7500 federal tax credit on a purchase.

Advantages:
* There's no income limits and the $7500 is taken off of the price at the initiation of the lease instead of waiting for your tax refund the following year.

* The best EV's such as the Ioniq5/EV6 with 800v architecture charging do not qualify for the Federal tax credit through purchase.

* Price is negotiable with dealerships therefore making the deal even better if you can negotiate a good price prior to the application of the lease credit.

* PLUS state rebates (which do not have Sourcing/North American Made requirements)


Example from Hyundai [hyundaiusa.com]:
"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." The cap cost includes down-payment.


Many more listed here:
https://leasehackr.com/blog/2023/...-on-leases

You can really get excellent deals such as this one listed here:

Cheaper Than a Tesla Model 3 Lease: Volvo C40 Recharge for $451/Month, $0 Down [leasehackr.com]

The truth is if the leasing company passes the credit to you, you initiate a lease effectively purchasing the vehicle at the negotiated price minus the 7500 lease credit.
You can then buy out the lease which will be the residual value (worth of the car at the end of the lease) plus the lease payments (minus the finance/rent charges).

This would be an excellent way to obtain a high quality EV rather than settling only for the offerings which do qualify.

Keep in mind since you are buying out a lease, you will still have to pay acquisition fee.

final price should be:
Negotiated price minus 7500 which breaks down as folows:
1.lease acquisition fee
2. Remaining payments MINUS the finance/rent charges ( it will come out to less than the actual monthly payment if you immediately buyout)
3. Residual value.
4. Taxes if applicable for your state (make sure you get dmv form that proves you made tax payment to avoid getting double charged for tax.)