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expired Posted by fireserphant • Jun 22, 2023
expired Posted by fireserphant • Jun 22, 2023

2023 Hyundai IONIQ 5 EV: 24, 36 or 48-Month Financing at 0.99% APR & $0 Down

(For Well-Qualified Buyers)

from $41,450

Hyundai
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Deal Details
Hyundai is offering the 2023 Hyundai IONIQ 5 Electric Vehicle from $41,450 with 24, 36 or 48-Month Financing starting as low as 0.99% APR and $0 Down Payment for very well-qualified buyers when purchased between 6/14/2023 through 7/5/2023.

Thanks to community member fireserphant for sharing this deal.
  • Note: Pricing and availability will vary depending on your selected options and available inventory.
Limited-Time Special Financing Options:
  • 0.99% APR (up to 36 months) at $28 per $1,000 financed for qualified buyers.
  • 0.99% APR (up to 48 months) at $21 per $1,000 financed for qualified buyers.
  • Must be financed through Hyundai Motor Finance (HMF). Tax, title and license extra.
  • See your participating Hyundai dealer (dealership locator) for more details.

Editor's Notes

Written by RevOne | Staff
  • About this Deal:
    • New vehicles only.
    • This limited-time special financing offer is valid from 6/14/2023 through 7/5/2023 for very well-qualified buyers. Only a limited number of customers will qualify for the advertised APR.
    • Down payment will vary depending on APR. Bonus Cash must be applied as a down payment. Must take delivery from a participating dealer and from retail stock from 6/14/2023 - 7/5/2023.
    • Cannot be combined with other special offers except where specified.
  • Please refer to the forum thread for additional deal details & discussion.

Original Post

Written by fireserphant
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Hyundai is offering the 2023 Hyundai IONIQ 5 Electric Vehicle from $41,450 with 24, 36 or 48-Month Financing starting as low as 0.99% APR and $0 Down Payment for very well-qualified buyers when purchased between 6/14/2023 through 7/5/2023.

Thanks to community member fireserphant for sharing this deal.
  • Note: Pricing and availability will vary depending on your selected options and available inventory.
Limited-Time Special Financing Options:
  • 0.99% APR (up to 36 months) at $28 per $1,000 financed for qualified buyers.
  • 0.99% APR (up to 48 months) at $21 per $1,000 financed for qualified buyers.
  • Must be financed through Hyundai Motor Finance (HMF). Tax, title and license extra.
  • See your participating Hyundai dealer (dealership locator) for more details.

Editor's Notes

Written by RevOne | Staff
  • About this Deal:
    • New vehicles only.
    • This limited-time special financing offer is valid from 6/14/2023 through 7/5/2023 for very well-qualified buyers. Only a limited number of customers will qualify for the advertised APR.
    • Down payment will vary depending on APR. Bonus Cash must be applied as a down payment. Must take delivery from a participating dealer and from retail stock from 6/14/2023 - 7/5/2023.
    • Cannot be combined with other special offers except where specified.
  • Please refer to the forum thread for additional deal details & discussion.

Original Post

Written by fireserphant

Community Voting

Deal Score
+73
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Top Comments

Some dealers in my area, NE GA, are actually discounting the Ioniq5s $2500-$7500 right now. Not sure if that is a regional discount but the discounts seem to be coming from both the dealer and/or Hyundai. I know my local Hyundai dealer has had 3-5 Ioniq5s sitting in the front of their dealership for 1 - 2 months now that they can't seem to sell.

On a related note, the NHTSA just opened an investigation into the Ioniq5 due to reports that some Ioniqs are losing power while being driven. Not a full recall as of yet but enough complaints, around 30, to warrant a closer look. https://www.caranddriver.com/news...stigation/
Why buyout when you could invest those funds at a rate > 0.9%? Current 13-month CD's pay 4.3%.
Financing? Isn't the real deal when you do a lease, get the $7500 credit then do a lease buyout?

590 Comments

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Jun 22, 2023
1,257 Posts
Joined Jun 2007
Jun 22, 2023
threeclaws
Jun 22, 2023
1,257 Posts
Quote from ChiefAlchemist :
Leases are simply car payments that never end. Ever. And once you're a non owner it's difficult to stop leasing cause it's so $$$.

That said, with EVs I wonder if leasing isn't better, at least for now. Replacing batteries in say 5 yrs again gonna be cheap. But after a 3 yr lease the technology will be noticeably improved.
Every EV in the US should have a 10yr/100k drivetrain warranty which includes the batteries.

A lease makes sense for foreign-built EVs purely because it's the only way to get the $7500 tax credit, you can then buy out the lease if you want.
Jun 22, 2023
6,188 Posts
Joined Mar 2005
Jun 22, 2023
PedroR
Jun 22, 2023
6,188 Posts
Quote from fireserphant :
Hyundai
You should forewarn folks to prepare themselves for a less than satisfying dealer experience
2
Jun 22, 2023
1,257 Posts
Joined Jun 2007
Jun 22, 2023
threeclaws
Jun 22, 2023
1,257 Posts
Quote from G.G :
First of, you don't own the title of a leased car. so you are not entitled to the federal tax credit.
Dealers are passing it on to the buyer, so effectively you do get it and it's the only way to do it on a foreign built ev.
Jun 22, 2023
1,257 Posts
Joined Jun 2007
Jun 22, 2023
threeclaws
Jun 22, 2023
1,257 Posts
Quote from PedroR :
You should forewarn folks to prepare themselves for a less than satisfying dealer experience
This is the real issue that stops me from buying a hyundai/kia the dealers are the worst of the worst. The ioniq 5 is the best ev I've ever been in though (better than a 3/s/x, mach e, solara, id4, etc.)
Jun 22, 2023
95 Posts
Joined Feb 2015
Jun 22, 2023
chandleya
Jun 22, 2023
95 Posts
Quote from Zalupashvily :
$40000 car made of tin can metal plus sales tax, full coverage insurance. Crazy price. I can find Mercedes for $3-5k and drive it for the next 10 years in comfort and savings on those electric cars are not even close if I go with used car option
Have you looked at a 10 year old CLA? All the attitude of an Altima and after the 3rd owner generally the same level of crazy. Those cars depreciate and wind up clapped out just as quickly.

If you want to drive a 13mpg barge Merc, that's on you. Most cheap mercs have a w272 that's ready willing and able to hurt your wallet completely.
1
Jun 22, 2023
26 Posts
Joined Apr 2018
Jun 22, 2023
SharpCreature2897
Jun 22, 2023
26 Posts
Quote from VicSage :
Some dealers in my area, NE GA, are actually discounting the Ioniq5s $2500-$7500 right now. Not sure if that is a regional discount but the discounts seem to be coming from both the dealer and/or Hyundai. I know my local Hyundai dealer has had 3-5 Ioniq5s sitting in the front of their dealership for 1 - 2 months now that they can't seem to sell.

On a related note, the NHTSA just opened an investigation into the Ioniq5 due to reports that some Ioniqs are losing power while being driven. Not a full recall as of yet but enough complaints, around 30, to warrant a closer look. https://www.caranddriver.com/news...stigation/ [caranddriver.com]
Exactly what I am seeing at my local VA dealership. They are offering $3,000-$7,000 on Ioniq 5s. There are 7 of them on their lot.
Jun 22, 2023
2,740 Posts
Joined Jun 2014
Jun 22, 2023
schlack
Jun 22, 2023
2,740 Posts
Quote from VicSage :
Some dealers in my area, NE GA, are actually discounting the Ioniq5s $2500-$7500 right now. Not sure if that is a regional discount but the discounts seem to be coming from both the dealer and/or Hyundai. I know my local Hyundai dealer has had 3-5 Ioniq5s sitting in the front of their dealership for 1 - 2 months now that they can't seem to sell.

On a related note, the NHTSA just opened an investigation into the Ioniq5 due to reports that some Ioniqs are losing power while being driven. Not a full recall as of yet but enough complaints, around 30, to warrant a closer look. https://www.caranddriver.com/news...stigation/
That's interesting! It's a cool looking car.

I couldn't see buying it over a less expensive Model 3, but with heavy discounts it could be fun.
Last edited by schlack June 22, 2023 at 02:15 PM.

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Jun 22, 2023
4 Posts
Joined Jul 2022
Jun 22, 2023
StrongMagic3312
Jun 22, 2023
4 Posts
Quote from IndigoStove5818 :
Ya they're doing all these offers because it's been hard to offload these. My local dealer has a bunch of these and it's still listed at a markup lol who the hell would buy these over the Tesla's, it makes no financial sense unless you don't qualify for the tax credit at all
Is there an income cap for the tax credit?
Jun 22, 2023
78 Posts
Joined May 2008
Jun 22, 2023
boogi2woogie
Jun 22, 2023
78 Posts
Quote from najin23 :
Does anyone know how this compares with model Y performance in terms of value in general? I know you can't compare them apples to apples but it seems that Model Y Performance is way better in every aspect.
Model y base is similar to ioniq 5 limited.
Jun 22, 2023
1,110 Posts
Joined Oct 2010
Jun 22, 2023
alikaz
Jun 22, 2023
1,110 Posts
Quote from threeclaws :
This is the real issue that stops me from buying a hyundai/kia the dealers are the worst of the worst. The ioniq 5 is the best ev I've ever been in though (better than a 3/s/x, mach e, solara, id4, etc.)
I would say to each their own here, I've had perfect dealer experiences at my local Hyundai dealer, and my friends with them as well. Mu brother has had good dealings with another Hyundai dealer nearby here too. I've had much worse experiences at Mercedes, Subaru and Nissan dealers (from my personal experience)

edit: and what I mean is each dealership (owner) is different and I'm sure there's scumbags everywhere (probably most)
Jun 22, 2023
1,110 Posts
Joined Oct 2010
Jun 22, 2023
alikaz
Jun 22, 2023
1,110 Posts
Quote from StrongMagic3312 :
Is there an income cap for the tax credit?
Not for the federal rebate as far as I know, but if you are retired and aren't making income then yes you can't get the full 7500 tax rebate since you aren't paying taxes to begin with

edit: oops I guess I should google it, there is also an income cap $150k single filers, $300k married

https://www.irs.gov/credits-deduc...3-or-after
1
Jun 22, 2023
216 Posts
Joined Jul 2016
Jun 22, 2023
funnyperson1
Jun 22, 2023
216 Posts
Quote from vajratlr :
I don't understand why anyone would buy this over a Model 3 that's cheaper, better range, better software, driving experience, tax rebate and a much better charging network. Unless you just dislike Musk.. there's no other reasons anyone should be buying this car.
For me there are a few little things that taken together are infuriating about driving a Tesla compared to almost any other EV.
  1. Forced one pedal driving. Most other EVs have paddle shifters for adjusting regen from coasting to full one pedal braking. As a former hypermiler, conservation of momentum is everything, and coasting in a Tesla requires you to continuously apply force to the pedal.
  2. Touch screen air vents. I like to adjust my air vents while driving, Tesla took a solution that was so ergonomic, simple, and elegant and put freaking motors into the airvents controlled by a tablet interface.
  3. Physical HVAC controls. This is more true of my 2022 Kia Niro than the newer Kia/Hyundai EVs, but the HVAC interface is way more intuitive and safer to use while driving. The touchscreen is usable, but you still have to stare at it to do anything.
  4. Lack of Carplay. The Tesla multimedia interface is probably the best one made by a carmaker, but I can't take it with me when I leave the car. If I'm listening to a podcast on my iPhone, I want to resume it in the car. I want multiple mapping solutions for traffic management.
Also this is somewhat in a different class size-wise than a model 3. The Ioniq 5 is nearly a midsize (crossover) SUV and has close to 50% more cargo space than the Model 3 and is only slightly less spacious than a Model Y.

There's no debate that the Model 3 is currently the best value for an EV purchase, but there are still reasons one would purchase something else. I do think that we will start seeing heavier incentives from other manufacturers, especially on the lease side where they can compete with Tesla's tax credits. The IONIQs and EV6s seem to be piling up.
Jun 22, 2023
22 Posts
Joined Aug 2021
Jun 22, 2023
NavySeed472
Jun 22, 2023
22 Posts
Quote from Type X :
There are lots of ioniq's at local dealers not sure if they arent buying for the nee recall or if they over ordered months ago for the backlog
Most here have 5-15 on lots

I shopped them last yr and ended up going with a 2023 hybrid n waiting for the new prologue . There are a bunch of dealers that will do msrp if you search around online!
I did the same, went with a prius prime since my state has fark all for chargers. Daily commute still is EV and i dont need to worry about charging or stations or range when i head middle-long distances.

Once charging infrastructure is fugured out I'll make the flip. The ioniq6 is nice but also just too cramped.
Jun 22, 2023
164 Posts
Joined Nov 2015
Jun 22, 2023
bj1
Jun 22, 2023
164 Posts
Quote from wasssup :
Oh that's interesting. And then you can avoid dealing with getting a deduction for the next tax year?
Ioniq is not eligible if you go the purchase route. Lease is a loophole that Hyundai is using.

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Jun 22, 2023
1,257 Posts
Joined Jun 2007
Jun 22, 2023
threeclaws
Jun 22, 2023
1,257 Posts
Quote from alikaz :
I would say to each their own here, I've had perfect dealer experiences at my local Hyundai dealer, and my friends with them as well. Mu brother has had good dealings with another Hyundai dealer nearby here too. I've had much worse experiences at Mercedes, Subaru and Nissan dealers (from my personal experience)

edit: and what I mean is each dealership (owner) is different and I'm sure there's scumbags everywhere (probably most)
I have no doubt that there might be a handful of decent ones nationwide but they are the exception not the norm and with a $50k purchase I'm not rolling the dice on an ex buy here pay here dealer which is what hyundai/kia went after when they were starting their network.
Jun 22, 2023
1,257 Posts
Joined Jun 2007
Jun 22, 2023
threeclaws
Jun 22, 2023
1,257 Posts
Quote from vajratlr :
I don't understand why anyone would buy this over a Model 3 that's cheaper, better range, better software, driving experience, tax rebate and a much better charging network. Unless you just dislike Musk.. there's no other reasons anyone should be buying this car.
Model 3 is much smaller, range is basically the same, as is the price and I won't drive a car without carplay. Honestly, there is too much baggage with tesla as a brand, the build quality is still shit, everything is a subscription, repairs will continue to be an issue, etc.
2

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