Another 2023 IONIQ 5 SEL quote opinion

Ask the Hackrs
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1

I’m still lurking and learning from y’all. The below email was given to me by dealer for IONIQ 5 SEL AWD

He said they are a small dealership and can’t compete pricing with the big boys because the larger dealerships get extra cash bonuses from the manufacturer. So he gave me “the best price we can do”, before I even made an offer. But I did flex my freshman LeaseHackr education when asking for details (days on lot, MF, etc.). I received nothing but the offer.

I’m one step below a rookie, but I was already skeptical when I read it. He’s basically saying that they’re CarMax, no haggle. I hate haggling, but would be willing to come back with a reasonable counteroffer if y’all had some ideas. The deal looks like this (having trouble pasting the screenshot)

Lease (Monthly) 24 Mo/15K

$3,500 down payment
$417 - $452

$8,750 down payment
$166-$201

MSRP/RETAIL
$53,830.00

Market Adjustment
$11,000.00

Rebates
$7,500.00

Total Savings + Rebates
$18,500.00

Your Price
$35,330.00

Doc Fee
$499.00

Registration Fee
$301.00

Monthly Taxes
$8.13

Upfront Taxes
$0.00

Capitalized Taxes
$2,156.73

Total Due at Signing
$3,500.00

Residual Value
$30,683.10

The monthly payment seems high, and I definitely didn’t ask for numbers with those down payments. What should I ask? What are your thoughts? Thanks hackrs!

2

Will You register the car in MD?
If Yes the taxes should be almost doubled.
Also if I am reading this right You are getting $3500 pure dealer discount.
I have seen somewhere MD EV credit.

Screenshot_20240120_093821_Chrome
Screenshot_20240120_093821_Chrome1080×2316 277 KB

3

No, I’m in Delaware, taxes probably calculated based on that. I thought I was getting better at reading these offers, but I’m now doubtful. Not interested in $3500 DAS, nor a 500-600+ payment when you decrease DAS. Guess I should rethink it all, maybe I’m being unrealistic. I tried using the calculator, but was tripped up by some of the required info on fees, taxed vs. untaxed incentives.

4

Seems like they are marking up RV…I think this is what the actual calcs should be if they are really offering you all the incentives/discounts. CHeck the tax % as I dont know what it is for DE

5

Newbie here again.

I see a lot of focus on RVs as related to plans to buy out a lease. Makes sense. But if I have no plans to do so, why does it matter? How can I use this as a negotiation tactic to get a much lower DAS?

And, does anyone know if it is possible to improve a deal by not accepting 2 yrs of free EV charging? No need for it when I don’t live anywhere close to EA (75+ miles) and charge at home.

Thanks as always!

6

Charging is not a paid benefit. Can’t negotiate. Best for you is negotiate the lowest payment. All done. With only drive offs due at signing

7

Huh? RV is relevant because you’re paying the depreciation, not because of the buyout. Most cars don’t make sense to buyout at lease end. Most of the best deals you’ll find are partly due to a high residual value, that’s why it matters.

8

Focus on minimizing the total cost of the lease.

In generals, the higher the RV the better when it comes to chasing the lowest total cost for a lease.

You want the difference of

(Selling Price - Incentives) - (RV of car)

to be as close to zero as possible

You want the MF to be low and you want to pay nothing up front except required taxes/fees. No down payment.

Price, Incentives, RV, and MF are levers to pull when negotiating a lease , and all can be worked to reach a deal.

Find a deal you like on the forum with a calculator and toy around with numbers to see ways you might achieve your objective.

Good luck!

9

Thanks for that nice summary @DuckyMomo. For some manufacturers, aren’t RVs set in stone? Or, is nothing really set in stone anymore? Guess all I can do is propose the deal and see. I’m wondering what’s more valuable to the dealer in the negotiation so I won’t get ghosted…higher MF or lower residual? I’m willing to play ball to get the deal I want, not expecting to get it all.

10

RV is always set in stone. Different banks may have different numbers, but it is always non-negotiable.

11

Yes, sorry as @mllcb42 said, the RV is really not negotiable as it’s set by the bank that is funding the lease, since the car is ultimately their asset. It can vary by bank (and not all dealers use the same banks), but it’s widely going to be the same across dealers.

The key thing with RV and MF is to know what the values should be so you can see where dealers might be marking things up.

You can use the RATE FINDR | LEASEHACKR here that’s available to Super Supporters, or you try to use other online sources for that, like Edmunds.

12

Post a link to your LH calculator for your target deal. The above is a waste of time.

13

Absolutely nothing. You make them an offer. There’s nothing you need from the dealer other than a “yes” or “no” to your offer.

14

OP, put the deal into LH calculator. Once you put it there, play around with discount on msrp to get the monthly n DAS u want. Put all the information on excel spreadsheet n email it to your dealer. It’s either they blew u off, counter u with reasonable offer or sometimes agreed to your number.

1 Like
15

Thank you for this post. There is no trick or replacement for doing work. These bot like posts are getting very boring…….

16

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