MSRP: 52900
Selling price: 50250
Incentives: 7500+2500 loyalty
Adjusted price: 40250
Etch Security: 200
Pulse: 500
Total Purchase: 40950
Trade Difference: 40950
Tax: 578
Non Tax Fees: 60
Net Price: 41588
Balance: 32023
One pay: 10260
In the calculator, i removed the disposition fee so that the total cost will be the one pay amount. I also adjusted the MF to get to the one pay amount quoted.
Can you please share which state is this for ? I am interested in an Ioniq5 deal but looks like 10k is high as this months lowest for Ioniq5 with loyalty for 24 months is around 7k.
Can you buy a Hyundai beater now and still have it count toward the Loyalty discount? I thought you had to prove you had ownership when the program began? Not sure when that was, but reading some threads, I thought buying last minute wasn’t an option. I hope I’m wrong of course.
OK so thinking outside the box, I went to a junk yard to find an old Hyundai with a valid registration. Not easy, but found one. Told the guy I’d pay him $350 to sign the title over to me. Then sign it back to him after the lease deal is done and he of course keeps the $350.
Is this a valid scenario that will get me the Loyalty $2500? No, the car doesn’t run. POS haha! But the title is indeed good. Also, for him, could he do this over and over with other buyers? Would be an easy money maker. Not sure it would raise some red DMV flags though. Just trying to help him out as well.
OK my apologies, I left that part out. Yes, since I would have the title, I’d be able to register it as well. In addition to getting insurance for a month or so I guess. Can’t be much on an old Hyundai. But to get the $2500 Loyalty rebate for an Ioniq, this scenario seems like a possible route. (Assuming there’s no age limit for the Hyundai vehicle)
Yes. Someone has already done what you are describing, but they weren’t able to see the car so they ended up junking it. He was still ahead at least a thousand dollars. I can’t find the thread.
Thanks! I figured something along these lines had been done before. Sounds like my scenario is a little better for both parties. I don’t have to deal with the vehicle as it would stay in the junk yard. And I would sign the title back to him so he could “sell” it again. And the $350 is pretty low!
this is the way! how long does it take for you to get registration in your state? i’m hoping i’d be able to walk in to BMV here in Indiana and get a temp plate and registration right there
It’s been so long I can’t remember how long it takes. I will have to check as well which state is better for leasing…Virginia or South Carolina as I can register a vehicle in either state since I live in both. (I have an SC license but can get a VA license in a day if needed) Whichever state is cheapest for the lease is where I’ll register it.
Consider whether your state requires an inspection for registration. My state requires an emissions inspection, which of course means it has to be drivable and not missing a catalytic converter, etc.
Oh yes, South Carolina has zero emissions or inspection. So that settles that. Very important as I forgot about the requirements for registration. Virginia has emissions and inspection so not a chance ha! Thanks for the heads up!
