I’d love a deal check on a 2023 Hyundai Ioniq 5 SE AWD.
Not sure why, but the monthly price doesn’t match up to what the dealer said. They have it at $486.68 - a ~$12 difference than the leasehackr effective monthly cost. Main discounts are the Hyundai incentives on 2023 Ioniq 5’s, totalling $15k. But I negotiated the dealer down a bit more.
Deal details:
You need to change the tax to “Texas” and add the doc fee
Thank you! Updated. The total government fees include doc. Will also attach the fee breakdown.
Did you check with Autocompanion? They are in north east but they have Ioniq 5 priced at $280 per month… with Texas taxes, you might get it for $380 a month…
Thank you. I wasn’t aware of Autocompanion! I don’t see any 2023 Ioniq 5’s in there, which are the only ones that have this lease incentive form Hyundai. Still, I’ll try to find the deal you’re referencing, which might be relevant.
Unless you are planning an immediate buy out or a buy out at the end with a lower residual the 24 the way to go. The total lease cost is lower even without the bigger insentive as the residual is higher.
Thanks, buster11xx. If I understand you correctly, you’re saying that the lease is a good deal, but the residual is high (since it’s relative to the original MSRP) and so buyout isn’t as attractive for me?
Try for 24 months and see if they do a one pay lease. Also check if they allow Tx lender credits which can reduce tax.
Thank you danny561. Here is the 24-month deal:
And here is their breakdown of 24/36/48 month options with residuals and money factors:
Delete post.
Model year 2024 or 24 month term?
I’m referring to 24 months term. Only considering 2023 since that has these Hyundai incentives.
What I am saying is that the 2024 should yield a better lease payment that the 2023. The 23 has a lower residual- so if you are planning on buying out the lease you should go with a 23. If you are planning on driving and turning it back in at the end you should go with a 2024 (lower insentive, higer residual value- but lower car payment). The goal of leasing and retruning is the lowest out of pocket cost- not the higest insentives with a lower residual.
If you plan to keep the car, the 2023 is better, if you plan to lease the car the 2024 is better but has less features on the lower trims.
Normally that would make sense. But the 2024 SEL has fewer features than the 23 SEL. A lower payment on the 24 doesn’t necessarily make it a better value.
Well you’re kinda fucked in Texas paying the same tax as a purchase (and Acq fee applies to everyone). The shorter the term, the bigger that lump sum becomes as a part of your monthly payments.
Like $3,000 in taxes and fees alone adds $125/m to a 24m lease.
May I know what dealer or town is it in? The deal is pretty good.
OK thank you for clarifying. That’s a great perspective. I’ll take a closer look at 2024 lease deals.
Thanks, max.
I don’t mind the feature differences between 2023/2024, but do prefer 2023.
And yeah up-front tax is rough.
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