Deal check, 2024 Hyundai Ioniq 5 SEL lease, CA-North

Ask the Hackrs Buy/Finance
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1

CA, North
Is this a good deal? The down payment is only $2,368.82, is this correct?
How much will be “security deposit. Tax, title, accessories, acquisition fee, and license fees” in total?
I don’t want to hassle with the dealer. That is why I bought 2 Teslas in the past few years.

Lease based on 2024 Hyundai IONIQ 5 SEL RWD. MSRP: $49285 Sale price: $47785 Lease for $232 plus tax per month for 24 months. 12000 miles per year. $0.20 per mile over. $12368.82 due at signing, incl. $10000 lease rebate plus $2368.82 cash down. $0 security deposit. Tax, title, accessories, acquisition fee, and license fees excluded in due at signing. Available to qualified customers on approved credit. Financing through HMF See dealer for full details. . Offer Expires 6/30/2024

2

If you’re considering a Hyundai you’re most likely going to have to communicate with a Hyundai dealer at some point. Why not just ask them?

3

You could try plugging it into the calculator, but I assume in the low 4 digits?

Consider using a broker. Check in the Marketplace.

4

If this is a good deal, i.e, numbers are good, then I will. Or contact a broker instead.

5

I have checked the marketplace, but couldn’t find the right No-cal broker, mostly So-cal only.

6

Can you ship the car? I think you’d still be saving money.

7

Did you look at the pre-negotiated deal page?

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8

This is going to cost near 10k after taxes and fees for 2 years
If you do a one pay you can get a blazer ev for 6k one pay in NorCal, saving almost 4k over 2 years if you qualify for the conquest lease rebate

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9

Not a good deal. Ioniq 5 could be had for a lot less. Others have pointed you in good direction w the blazer.

10

This total is $9,480 which is higher than the current deal I have posted.

11

That sound pretty interesting, how can I reach to that deal? I couldn’t find anything close to it. My local dealers advertise $155/month + $10K down payment.

12

I went through the form here and the dealer is requiring a down payment of $2491.30.This deal is false and it isn’t zero down.

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13

I have no skin in this game, just asking if the OP saw it.

And it’s not advertised as zero down. What you show is within a few bucks of the calculator result for that deal.

14

I think for the SEL you can get that down further with one pay.

Limited RWD 24/12k can be got for $10k fairly easily. So paying that or close for a SEL seems a little high.

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15

Thanks for the info. Net cap - residual = $1500, then how come they charge for $289/month for 2 years? That does not make sense to me.

16

Interest on the $50K you are borrowing for 2 years. You do know how a lease is structured, right?

17

At that point your payment would be mostly rent charge + taxes if the state doesn’t collect everything upfront

18

Didn’t know that I need to pay for the interest. I though I just need to cover the depreciation value.

19

This doesn’t make sense to me. The acquisition fee is off for Hyundai. The money factor is inflated. Otherwise a $2500 dealer discount would have got you a decent monthly on here.