Initially went in to look at Kona EVs but inventory was already committed so sales steered me toward the ioniq 5. I was told that 12k miles for the 2yr lease is the minimum despite me expecting to drive healthily under 10k. Deal seems really good, but being steered towards the car naturally makes me skeptical so a sanity check is appreciated. Surely it helps that dealer gets the 7.5k federal lease cash + 5k colorado incentive.
What does it include? What is the monthly payment?
Not the case. The leasing bank, which is Hyundai Motor Finance, is passing the $7500 EV rebate to the lessee = you. You are also getting the $2500 lease cash from Hyundai. The Colorado incentive is not coming from the dealer, either.
The dealer’s discount is less than 2% off MSRP. Shoot for at least 5%. I would recommend reaching out to multiple dealers near you.
@Bluemkn57cars The due at signing amount includes taxes and fees. There is no monthly payment as the format of the deal is what Hyundai calls “One Pay”. So this is, in a sense, all monthly payments wrapped into one.
Noted re: the paltry dealer discount. I’ll check with others. And to @max_g’s point, I will do that remotely to save time. Will check out the Niro too, ty.
If this is a true one pay and no monthly payments due, sign this immediately. This is effectively just a hair under $200 a month lease. An amazing deal. Just be aware insurance costs can be more for EV than a regular car but that is offset by free charging for 2 years if you use Electrify America.
