Looking for an EV without any kind of pre-order, I eventually put down a $500 deposit for delivery of an in-transit Ioniq 5, expected to arrive first week in August.
2022 Hyundai Ioniq 5 SEL AWD
MSRP : $51,625
Purchase Price: $51,625
Blessings: $1147 protection package required
DMV Fees: $100
Dealer Fees: $175 doc fee
Tax: NJ EV sales tax exemption
OTD: $52,948
Incentives: $7500 federal rebate, 2 years free charging, home delivery
Effective Payment:$555/mo
Took me a while to secure any kind of EV, trying to buy out of inventory, in this market. The protection package is required, but does include tire/wheel protection, ding/dent protection, and windshield repair for 5 years, so perhaps not entirely worthless. I intend to structure deal as a purchase, since Hyundai does not pass on the federal rebate in a lease. Using a 84 month loan at 3.24% with 0 down my payments are $705/mo. Ioniq does not have favorable balloon loan rates with AFG. Not alot of secondary market transactions to use for a baseline of market value, but the few SEL listed at Manheim suggest it’s worth about $56K (roughly $5K over MSRP)
Not as much juice as my normal Tesla deals but I finally get to bank the federal rebate
