This is specific to Colorado residents but thought I’d share what some dealers have been sharing with me. We’re currently looking at early lease termination on a CX90 Phev and Ioniq 5 because of how insanely low some deals in CO are getting.
Hyundai dealers have been talking about over 400 inbound units for the Ioniq 5 that they’re desperate to get out before the end of federal rebates. There’s currently over 900 units in market from what I’m able to scrounge. One dealer sales rep said their dealership alone is expecting over 200 inbound.
Nissan dealers have similar on hand inventory levels but supposedly less inbound since Nissan has already been reducing production volumes. But dealers are taking some deep cuts to move inventory due to overall company stability. They’re also seeing crazy high turn in rates on the Ariya, sales rep said wait to see if August yields better incentives for purchase than lease.
I did an inventory of Ioniq 5’s off of Cargurus a few weeks ago, I think a 200 mile radius from denver and counted over 1400 units. I think deals will be had, I’m probably going to pull the trigger at the end of next month.
Dealers trying really hard the last couple of days to convince me that current offers are ‘as good as it gets’. Ya right.
Since posting the original I’ve had $3500 one-pay offers on CX-90 PHEV preferred 24/10 and $5800 Honda Prologue Touring AWD 36/10. Leaning more towards the Prologue than the Ioniq currently.
Ariya inventory levels have increased over the last 4 days.
Can you tell mw where you were offered that Prologue deal? I’ve been looking at the Elite but may be willing to move to touring if I could get a deal like that. It looks like with Nissan, you can buy additional miles at .10 as long as it’s before turning it in, but Honda looks like it’s .20. Do you know if that’s right?
You’re right. They’re really trying to convince me that deals will get worse in August, which doesn’t make sense.
I dunno if there’s enough juice to squeeze once you’re at $167 with 0 down on a 5. I think we’ll see movement on the luxury vehicles tho. God isn’t there an EV Escalade out there? That should see some panic.
Check out Holman Honda. $75/mo with $3500 down, 36mo term.
I got ridiculous quotes on the Escalade IQ.
There were ads up for $69/mo zero down on Ioniq 5 SEL. I wouldn’t settle for anything less than sub-$100.
CX-90 PHEV Preferred looks like its dwindling inventory pretty fast, if that’s your target I wouldn’t hold till Sept. Higher trim inventory is not moving.
I think the Prologue at Holman is FWD though. I will need AWD. It also looks like they don’t offer to add miles during the lease like Nissan does at .10. that’s pretty attractive to me.
I want full electric, or I would definitely look at the CX-90.
The Hyundai ads have fine print. They’re okay deals. 3500 one pay offers on CX90 PHEV is interesting. Are these concrete offers, plural form since that’s what you said, from a dealer specific to you? If so, what’s your sales tax rate?
How early of a termination are you facing? I’d be curious if it’s worth the early termination costs.
