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.
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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.caranddrive
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First, almost ALL car mark-up is the dealer's fault and the 'drive it off the lot and it loses value' is straight up them taking their cut as a middle-man.
Ask yourself - does any other high value item 'immediately' lose value after purchase? Not really, your home doesn't plummet in price and you take title on that even too. Even more consumable things like a decent laptop that you paid $400 for isn't suddenly only worth $7.38 if you attempted to resell it the next week. In fact, I've bought electronics and sold them months later and recouped 90% of my original purchase price and those are items that DO depreciate fast.
Simple economics tells you an item's value is worth what a person is willing to buy it at and you're willing to sell. Simply because it's 'used' doesn't shouldn't really make any difference - especially with warranties being transferable in many situations. I'll go back to a house - you take title on that too like a car - nobody worries when the ink is dry on your deed the house will suddenly plummet $50,000. Dealers are the reason, see below:
Dealers are one of the only industries that have laws in all 50 states to protect their business as 'needing to exist'. Even liquor has become more lax in many states and you can buy directly or there are local work-arounds for small craft brewers or distillers. Why is this? Cars are a pretty high ticket item and I don't think anyone is worried about the health of the industry? And even so, let capitalism do what it does and weed out those that don't perform well. It's because car dealers have enmeshed themselves with local politicians to line both their coffers - local government LOVES the tax revenue from sales - sales tax on a $25,000 item is a lot and people don't usually care as much because it's rolled into a loan. The dealers love it because they are a legally enforced gestapo.
To your point on rejecting them - this applied more before the pandemic, but I think they are holding onto that to produce less cheap cars and REALLY inflate car pricing. You just don't buy a car with the package crap added. I live in a big city, so I emailed half a dozen dealers asking about the model I wanted and to forward me a full pricing structure with taxes, and any 'fees' they may add. I compared and sent those offers to the other dealers saying beat it. I showed up and the second any price changed I left. I paid exactly what I wanted a fair value for my most recent vehicle.
I like Tesla, but they are also onto the right model here. Yes, Geo, Saturn, and Scion all tried the 'no hassle' price but when you're an extension of the companies that love to do that and serviced at the same dealership, it's really just smoke and mirrors. Tesla though is ground up from the maker to the buyer. People seem pretty happy to go online and see a price, hit 'order' and put a small deposit down and then go get their car for the same price they saw and no hours long fib-fest. No dealer 'mark up' because it's a nice model and they 'intercepted' all the models of that vehicle which was really a back-end deal with the other dealers to ensure each one is the only source of a specific 'cool' model.
Leasing - unless you have a very niche job requiring specific use of a car (traveling salesman who drives 30,000 miles a year) or you're mega rich - it's throwing cash down the drain. Most people keep a car for years and leases require money down, high rates, and have severe driving limitations. I'll be conservative, but for 95% or more buyers, leasing is a super dumb proposition. I'm not saying you have to go the Dave Ramsey route too and only buy a 2003 Corolla with the cash you saved, but leasing is a poor financial decision for most.
Lastly, your point on charging - the war is over soon I'm betting with Tesla's standard being adopted by GM and Ford - Given these 3 companies are also the top 3 EV sellers in the USA... it's about over. And even then, there's essentially just the 2 main plug types you see in the USA - Tesla's NACS (and now Ford/GM). The other is the CCS1 which uses the J1772 plug for level 2 and Tesla's come with an adapter for that anyway. So... I don't understand this worry? Cross-country charging? Even today we have different standards for electricity which would dictate some plugs or adapters and what % of people worry about charging their American car in China or Spain? I suppose you mean Hyundai, BMW, etc are being left out, so yeah maybe don't buy them, but to my final point:
Hyundai is a horrible car company. I get most car companies are bad in some way, but Hyundai has a dog crap reputation. They were trash cars in the 80s and 90s and into the early 2000s. After that, they got marginally better, mostly propelled by the 10 year warranty which having many family members who owned them was used liberally and shouldn't be an excuse to make a bad car 'they'll just fix it under warranty'. They got slammed in the 2010s for the fuel efficiency lies and had to pay people yearly for lost gas.
Then there's the Theta engine issue... I mean, wow. Just wow.
Then there's the whole theft issue where a grip of cars made until recently by Hyundai can be stolen with a paper clip and gum. And I read an article only a month or so ago that theft for the cars continues to increase and pour in.
So, regardless of dealers or charging, don't buy a Hyundai. They are a trash car company
Edit:
Before someone calls me out, I guess there is whatever charging type the Nissan Leaf used - superchademo or whatever. That's a dead end in the USA itself, but Nissan and chademo are a topic for another day.
Tesla also has the FAR better software experience, and semi-autonomous driving. Tesla has the supercharger network, and Tesla's plug is now the North American standard, as GM, Ford, etc have all agreed to use it, Hyundai (and all Japanese, Korean, and German) are not using it and thus you'll be in an awkward situation in a couple years.
Im not a Tesla fanboy, far from it. But id rather buy a model 3 than an Ioniq after driving both.
For the Model Y I paid $53k, minus the $7,500 federal rebate, minus a $2,500 colorado rebate, so low $40s at the end of the day.
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Look at the advancements in power tools, flashlights, and laptops and how much they have changed in the past 5-10yrs.
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.caranddrive
This is not true, the Hyundai cars have been quite sturdy, they are ranked pretty high up the reliablity chart. They copy the Japanese engine (thank god), and have been quite good for ages... I own a Kia myself and it's been very reliable, even more so than some honda/toyota of the same class... And to be honest, if you keep your car for 10 years, almost every big brand now will fit the bill in terms of reliability.
Markets are just starting to soften. Dealers are still building inventory and are only in the early stages of feeling pressure to move units.
If you need a car now, go for it...but I see prices continuing to drop over the next 6-12 months
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