2023 Hyundai Ioniq 5 SEL. Is a LeaseHackr score of 4.2 'good'?

Ask the Hackrs
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#1

About to sign this lease on a 2023 Hyundai Ioniq 5 SEL. Relatively new; appreciate input
$0 down (except 1st month and fees + stuff which adds to 1909.71
$1132.82 / month includes 10.75% local tax
Rent charge 7952.46
MF - unknown - how to calculate?
Residual 28,870.50
Gross capital cost 58,092.00 (higher than sticker price which says 53,130.00

Am unclear how CA state tax figures in, if it does. Also not sure the MF. Overall, this is better than other quotes I got (I think) which want 3K to 5K ‘cap cost reducer’

Leasehackr gave me score of 4.2 but no idea how to know quite what that means!
Thanks!

#2

that means you should buy it, not lease it.

6 Likes
#3

42k to lease a 53k sticker car?
God Bless America GIF by FOX TV

9 Likes
#4

image
image788×1010 117 KB

now for the advice portion:
don’t do it man, just walk away

5 Likes
#5

On a lease, the monthly payment is taxed

This is where you should

batman stop GIF

Eject, and read leasing 101. If you don’t understand the elements of a lease or where to get this information, you don’t have any way to evaluate it.

In this case, it’s heinous.

6 Likes
#6

That sounds atrocious.

Get a Tesla.

#7

LOL, appreciate the input! I don’t really want to ever ‘own’ it because the tech changes so fast and wanted to minimize upfront costs. Believe it or not, this is the better of the other deals from Hyundai dealerships I was quoted! Will read Leasing 101 again…:slight_smile:

#8

Youre going to spend wwwaaayyyy more money leasing this than you would by buying it. Youre not minimizing any costs. Youre maximizing them.

4 Likes
#9

Read Leasing 101 and head over to marketplace if it still doesn’t make sense. :heart_eyes:

1 Like
#10

HOLY HELL! If I ever spend $1k/mo on a car, you can be SURE it will not be a Hyundai!!

5 Likes
#11

Look man forget the LH score here and forget the lease v buy decision (which indicates this is a terrible deal and in this particular scenario buying the car would be better)

The harsh reality is that post Tesla price cuts, every other EV maker is in for a reality check. IMO you shouldn’t buy or lease any EV at the moment unless it is a Tesla.

Everyone else is due for a major price correction

1 Like
#12

At least get a roundel badge if you’re dropping 1K per month.

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#13

Im selling Ioniq5s at MSRP with no dealer add ons or markup in California. All the ones I have sold have been purchases, no one leases these.

Buy it and sell it in a few years if you dont want to hold onto it

2 Likes
#14

If you’re paying $42k to rent a $53k car, is it really that bad to ‘own’ it instead!?

5 Likes
#15

You could wreck it, get it fixed and still be able to sell it for twice the 11K gap at minimum.

Allegedly.

1 Like
#16

Again!? You already read it and still posted this thread!?

5 Likes
#17

I don’t know who gave you that quote but I would tell him to take a shower and meet you at the Holiday Inn :rofl: This is probably Porsche Cayenne money

#18

Then find another car that meets that criteria.