Deal Check: 2021 Hyundai Kona EV Ultimate $339/mo $0 DAS 36m/10k

2021 Hyundai Kona EV Ultimate - Base +$540 in options

MSRP: $47,180
Selling Price: $43,710 (7.35%)
Monthly Payment: $339
Drive-Off Amount: $0
Months: 36
Annual Mileage: 10K
MF: 0.000620
Residual: 51%
Incentives: $10,750
Region: NJ
Leasehackr Score: 11.7

Continuing to search for a short term vehicle option. Looking at current pricing from Carvana (etc) should not be much of a problem to flip this in 6 to 8 months. I am wondering If I should wait for July, when the NJ rebate program restarts, right now I would avoid sales tax only. Have not worked with Hyundai much but this seems about average. I can’t believe this car is $47K.

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Looks like a solid deal on the face of it. If you plan on flipping it, you’re betting on Hyundai Financial allowing third-party buyouts, though, and the actual resale value staying high. Current pricing on Carvana might be a blip. There have been stories of the LG pack in Kona EVs catching fire, which could affect resale value – something that hasn’t happened to the SK Innovation batteries in the otherwise mechanically-similar Niro EV, to my knowledge.

Edit: I’d also check if the sales tax exemption for EVs in NJs requires you to keep the car for a minimum period of time.

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I just got similar deal, but 30$ more via Rodo. 370$/month for 36m/10k.
This year 2021 batteries are not affected by a recall. Only manufactured dates up to 2020-march are. My other kona ev 2020 is affected by a recall. That one i got much cheaper (100$ less) for 270$/month (3months ago). Same msrp 47160. Loving this car. Hence I have now two of them!

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Fyi: None of the Kona EVs blew up in USA yet. Small chance it will.

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Do you have any specifics on the NJ Rebate Program? I am looking for a 2021 Kona and I would consider an EV if the Lease price is right. Your deal seems pretty good as it is.

You can find details on the Charge Up NJ program here:

The program is set to restart on July 1st, as a point of sale incentive, and would result in an additional $5000 rebate on the Kona EV. That would bring this Ultimate down to $193/mo – which seems absurd but I guess not too far off from the Bolt ($7000 one pay).

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How did you calculate the payoff?

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