I was looking for a 2026 ioniq 5 awd se or sel and I talked to about ten different dealers today. No one would play ball. I tried to follow the suggestions on here (to the best of my ability) negotiated remotely, used the lease hackr calculator and rate finder, came back to the dealers with the issues in their deals- low residual, weak mrsp discount, inflated money factor, etc.
I had to ask the same dealers multiple times for quotes that included the money factor and residual. (Which were left out despite my very specific ask for a lease worksheet with the components I learned here.)
I looked at dealerships primarily in WI and IL. I couldn’t find many options on the forum here for hyundai dealers that work with the midwest. I wanted to explore options on the coasts and ship the vehicle, but my wife wasn’t comfortable with that idea.
I don’t understand where I’m going wrong. I was told over and over again that the money factor and the residuals aren’t changeable and are set by the manufacter- but these numbers differed across the board. No dealer was willing to discount me more than $2k msrp even in 2025 models that have been on the lot for almost a year. Any advice is greatly appreciated!
The base MF is set by the lessor / bank however a dealer is allowed by the lessor to mark up the rate as one of the ways to increase profit on a deal.
The RV is set by the lessor, make sure you are comparing the same terms…36/10 or 24/10 are going to have a different RV.
You are a super supporter so you can look up the RV and base MF and make an offer to a dealer with that info included and an aggressive but doable discount along with any incentives and see what that yields.
One of the main things on LH is to not ask for a quote, make an offer, and either they engage or you move on.
how do I come up the amount for offers? When I discussed my target amount per month, I tried to use previous “signed” deals to back up my numbers but there are very few in WI/Midwest so I was dismissed by dealers saying those numbers are only possible on the east coast.
You can go one of two routes. In your emails you can either state what terms you want (24 months, 10k per year) and what you want your down payment and monthly to be. I think most dealers are less responsive to this, but some folks on here have success this way.
If you can find their information on the dealer website, email the managers directly. You’ll also need to reach out to a lot more dealerships. Expand your search to your region, or places like the NorthEast where the deals might be better, and shipping isn’t expensive.
I normally send my offer to dealers with all the data neatly laid out:
“I’m interested in the vehicle on your lot with this VIN. My goal is to have this be a simple and fast transaction for both parties. I am ready to sign today if you can meet my terms.
Lease Terms: XX months, XX miles per year
MSRP:
MF:
Residual:
Dealer discount:
Incentives I qualify for:
Total Cap Cost :
Down payment:
Monthly payment:
I am open to you marking up the MF, or adding additional services as long as you are able to meet my monthly payment and down payment.
I understand this is an aggressive offer, and that it might not be right for your dealership. My goal is for this to be a quick and easy transaction. Thank you for your time.”
Use broker and signed data point to get a baseline for preincentive discounts and put together the rest of the calculator as it applies to your incentives and taxes. The preincentive discount is really the only datapoint you can pull from past deals.
