Deal check! Ioniq 5 Limited in Midwest 36m/10k

Ask the Hackrs Buy/Finance
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1

I am looking to lease a 2023 Ioniq 5 in the Limited trim. I definitely want the Limited trim. I know there are many many SELs sitting around my area in the Midwest but not nearly as many Limiteds.

So far this is the best deal I’ve received from relatively local dealerships after coming in pretty aggressive with asks for discounts off of MSRP.

2023 Limited I5
MSRP 58400
Dealer discount 1250
Cost 57150
Rebate 7500 leasing rebate from Hyundai
Doc fee 299
Taxes 7.25%
Acq fee 695
Credit score ~800
MF 0.00275
RV 61%

Due at signing: first month only
Monthly $710 (including all taxes/fees)

Again I know there are better deals to be had for the SEL trim, but I do intend to buy the Limited. Also, I know I’ve read of other dealers taking more off MSRP. I just haven’t found that or seen that here, and it appears there are no brokers serving this area of the country in the marketplace.

I did have one dealer who gave more 2k off MSRP then jacked up the MF. When I called him out on it he got incredibly defensive and basically started yelling at me. So that was great. And also that crap is why this forum is such a cool place and I’m glad to have found it. His increase in MF actually made the car more expensive than MSRP with the base MF, which obviously is not cool.

Basically I am just curious if there’s anything else I can do in this region to get a lower monthly on a 2023 Limited. Considering I’m at the base MF here, I know it’d have to be a further decrease from MSRP.

And although this is within my budget, I’d still rather be driving this I5 than a BMW EV, but now this hacker forum has made this a fun challenge to save as much money as possible.

Thanks for any insight and for all the help I’ve already read on the forum!

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Bump…

And actually I misinterpreted the quote and it’s actually a 2k dealer discount, not 1k.

Thanks!

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Not the month to be chasing a deal on the ioniq 5. If you want a great deal, it aint the car for the month, but if you care more about the car and can afford the monthly go with it. The MF and residuals are just horrible for the car. Some on this forum are getting a $140k+ car for a monthly less then what you stated for this car.

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Why do you think it’s so bad for the IONIQ 5 right now? I was looking at a Limited in NoCal yesterday and got an MF of 0.00378. We want an EV and really like the car but it feels crazy to be paying $600+/month for 10k miles after seeing the deals on those other cars.

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Just taking the money factor, that is close to 9% APR. You will never reclaim the interest paid. The residual, well just about any EV drops at least 50-60% after 3 years, with the first year being closer to 30%. The lease numbers just don’t align to a “great” deal, but sounds like the want outweighs that, so go for it.

1 Like
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The only trim with a descent MF is the SEL AWD on a 3yr - .00225 which is 5.4%. A lot of the dealers that discounted them are probably sold out, so now you have to look pretty hard to find a dealer that is still discounting them $4k or more.

But if you’re set on the Limited, then it is what it is.