Potential first time leaser based in northern CA and new to the community. Looking to lease a 2023 Ioniq 5 SEL AWD, 36/12k, $0 DAS, ideally while July incentives are still active.
Trying to make sense of this lease quote based on the context below. I’ve only corresponded with this dealer via email thus far:
- MSRP $52,950 (including $665 added features (floor mats, etc.) and $1,335 freight per sticker)
- Dealer says quote includes $3,000 dealer discount and $7,500 retail bonus cash
- Per Edmunds, should be .00237 MF and 58% residual. Dealer rep hasn’t been able to confirm MF yet, but I calculated this at .00286
- Dealer hasn’t been able to confirm that this is HMF (rather than US Bank)
- Accessories per the quote includes $699 paint/interior protection and $699 Carnamic smartphone app, both already installed on vehicle
Overall, I have the following questions on this lease:
- What am I missing that is causing the large delta with the actual monthly payments in this calculator? I plugged the RV % to match the quote.
- Does the adjusted cap cost make sense if there is truly $3,000 dealer discount and $7,500 retail bonus cash included? I’m unclear on the exact math, but $52,950 - $3,000 - $7,500 = $42,450 feels like a large spread with the $46,559, even after adding up front costs to the cap cost.
- Does the residual value seem high? I was under the impression that there is no wiggle room on the RV, but it doesn’t seem to align with the 58% per Edmunds.
- Should the RV approximate the end of lease buyout price in this case?
Interested in any insight / thoughts on the deal that anyone has to share. Thanks!
