This is the best deal I have gotten on the 2020 Hyundai Ioniq Electric Limited. Plugged in the numbers into the calculator and it seems to line up with the MF and RV from Edmunds. All that’s left is to work on the selling price is there is anything left to work. What do you guys think?
MSRP: $39,870
Selling Price: $36,800
Money Factor: .00103
Residual: 48%
Incentives: $500 + $7,500 Federal Tax Credit
Due at signing: $0
Pre-tax monthly: $385
Total monthly: $421 including 9.5% tax
Post sale rebates: CVRP $4500 Utility $1000 Bonus Drive $500
Post sales rebates make this. If everything lines up with RV and MF/incentives from edmunds, only thing you can do is nego sales price at this point.
INb4 Incentives check, it is correct for Autobytel (7500 EV+cash), I’m assuming that 500 is loyalty?, the '20s have much lower incentives than the '19s ever did, Hyundai got smart -_-.
Edmunds listed the incentives as $8000 so I am guessing $7,500 for the tax credit and $500 bonus cash. No mention of loyalty on Edmunds and the dealer said there is no loyalty currently. I wish there was loyalty as I have a Hyundai in the household currently. Not much data on the forums for leasing this vehicle. Hoping someone will be able to chime in on the selling price!
The rebate goes up to $4,500 if you income falls below the income guidelines for the increased rebate. There are more details on the CVRP website.
Increased Rebate Levels for Low– and Moderate–Income Consumers
Consumers with household incomes less than or equal to 300 percent of the federal poverty level are eligible for an increased rebate amount as listed below. The option to apply for an increased rebate is shown on the online application based on the income information the applicant provides. Applicants who are claimed as dependents are not eligible for increased rebates regardless of their income. Increased rebate amounts are available for fuel–cell electric vehicles, battery electric vehicles, and plug–in hybrid electric vehicles.
Vehicle Date of Purchase/Lease* November 1 2016 – December 2, 2019
Increased Rebate Standard rebate amount†increased by $2,000
Vehicle Date of Purchase/Lease* December 3, 2019 – Present
Increased Rebate Standard rebate amount†increased by $2,500
Honestly, I feel they aren’t as stellar as they were, that’s why I haven’t posted on Ioniqs.
I feel that with lower rebates they have become just like any other EV.
I’m personally on a cheap side of things so when I see $250 payment, and that is INCLUDING POST rebates.
On paper, yes, it looks great when MSRP is $38k vs $250 monthly payment.
It’s just personally for me $250 is an average payment for a small commuter. I want to be in a car like this sub $200 and I don’t think it is possible to achieve.
So, my opinion aside, given discount from sales price of close to 8% I think it could be the best you can do this month.
But, while you are looking at the Limited, why not compare it to SE trim. Rebates are the same as well as residual while starting MSRP is a lot lower at $33k. So pre and post rebate $ will go A LOT further.
Thanks for the input! From a value proposition the SE definitely makes sense but since this a commuting car I was looking for something with the full suite of driving aids, acc with stop n go, lkas, etc. Only way to get that is to jump up to the Limited, can’t option them in.
I did consider the Bolt at first but those seats… They are terrible. I do prefer the performance in the Bolt over the Ioniq but the Ioniq is much more comfortable plus the Bolt doesn’t offer the full suite of driver assist aids to handle LA traffic.
Ok, at least I know you’ve looked into SE trim and making a conscious decision to pay more to the features you want to have.
As for the ride - 2019 Ioniq was the first small car my wife actually liked to drive out of all small cars I’ve had for commuters and especially vs her SUV kid’s carriers
The seats aren’t that terrible, just kind of cheap feeling. I haven’t had any comfort issues. I honestly think with one pedal driving, some of the assist features are overkill.
Consumers with household incomes less than or equal to 300 percent of the federal poverty level are eligible for an increased rebate amount as listed below. The option to apply for an increased rebate is shown on the online application based on the income information the applicant provides. Applicants who are claimed as dependents are not eligible for increased rebates regardless of their income. Increased rebate amounts are available for fuel–cell electric vehicles, battery electric vehicles, and plug–in hybrid electric vehicles.