First time (potential) lessee. Interested to try out an EV without the commitment of a purchase - this seems on the surface like a good deal, but I’m not sure. Appreciate more experienced eyes on the numbers.
2023 Hyundai Ioniq 5 SEL AWD, handful of options (including color)
MSRP $53400
Dealer up-front discount off MSRP: -$2500
Month-end additional discount: -$1500 (if delivered before Monday, 7/31)
EV Lease rebate: -$7500
Amount financed after discounts: $41900
Term: 24/12k
Taxes: $871.38
MF: 0.00156
Residual: 67%
Acquisition fee: $650.00
Other fees: $738.47 (doc fee, registration, title, notary, etc)
Disposition fee: $495 (not sure why higher than HMF $400 fee I see published, but this is what’s shown)
Total due at signing: $11240.09, includes everything except for disposition fee.
nice work. Seems like your dealer is using US Bank. I am in NC and have been looking for a dealers who uses them for the higher residuals and lower MF. Which dealership is this? Thanks!
That is not US Bank, but HMF. Since he is doing one pay lease the MF decreases by 0.00140 so goes from 0.00296 to 0.00156. 67% RV is from HMF while US Bank is at 75%.
What is this “end of the month” discount of $1500 you are getting? Is that something the dealer offered to you when you wanted more discount from MSRP?
Dealer has 22 5s on the lot, 16 of them SEL AWD. They want to move them and very quickly offered an additional $1500 that they insinuated was from the manufacturer, but not sure where it’s coming from.
The dealer is Lehigh Valley Hyundai in Emmaus, Pa.
Their first offer was at MSRP when I just went in to ask them to run lease numbers. This seems to be on par with what lease brokers (AutoCompanion in particular) are offering once broker fee is subtracted.
So this was done in person at the dealership and not over email/phone then? So when they came in at MSRP did you offer a price/discount you were looking for when they came back at $4K off?
Yes, in person. Didn’t specifically ask for $4k, but they had $2500 off MSRP advertised on their website, and I asked what else they might be able to do beyond that. They mentioned the additional $1500 if delivering this month. Since $4k was what I had in mind as it more or less matched the broker discounts, (4500 minus broker fee) I did not ask for or push for anything beyond that.
Even crazier to me, it would have been over $1k less for an SE AWD (around $7200). In hindsight had I realized that before signing, I may have gone that route - but my kids love the ambient lighting, and I know the heated steering wheel will be a hit - and the wireless charging pad and power liftgate don’t hurt either.
Unless taxes are calculated differently in NJ, I think someone w/ the same discounts as me plus the $1500 additional “Charge Up New Jersey” credit would be around $5500 one-pay on an SE AWD, or less than $5k if they can sneak in the military discount - with a purchase price darned close to the residual.
There are some features on the LImited that I can live without, but after leasing a Kona EV with no power liftgate, I realized that I cannot live without a power liftgate. Nothing like picking up groceries at Walmart, and the person delivering you the food to put into your trunk is confused why the hatch won’t open when she presses a button. It’s utter embarrassment.
