Deal check: Ioniq 5 SEL RWD

Ask the Hackrs
1

Been trying to find something on an Ioniq 5. My ideal would be a Limited RWD but those are few and far between and hard to discount I am finding. (side question: are Hyundai dealers difficult to negotiate with everywhere or just east coast?) Just got this deal offer on a 36/10

They also offered $16k for a one pay but no detailed numbers.

I’m gonna try and get MF to buy rate. But maybe deal gets better if I can also:

  • Get a bit more off sales price (already at 6% so maybe unrealistic)?
  • I’m gonna keep the lease so maybe try and get a USBank lease and the higher RV (based on playing around on calc I think that gives me a higher payment tho)?
  • Wait and see if anything pops on these over next couple of months?

Appreciate any thoughts!

2

I was offered yesterday 24k and 20k one pay including Florida taxes. I found both of those to be very bad deals. I am hoping to pay around 13.500 one pay, maybe if you can get them to break down the numbers for you, you can get closer to that

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3

I just leased SEL AWD a week ago and it was via US bank so I can provide some thoughts :

  1. Looks like you’ve got almost 6% off MSRP so that looks great - I’m not sure if they will lower that anymore
  2. US bank lease will give higher residual - so you’ll pay less for depreciation compared to leases from HMF. The US bank lease should technically give you lower monthly payments
  3. Many folks told me US bank does not pass the 7500 lease rebate to customer - but I can confirm that is not true. I was able to set up my US bank leasing account and I have the lease buyout quote and the 7500 rebate is already passed on as capitalized cost reduction (in case you want to explore this option)

If you want to wait - you may get little more discount over MSRP perhaps due to end of year sales but if they decide not to pass on the 7500 rebates anymore then that might not work in your favor.

Hope this helps!

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4

How are you trying to get to 13.5k for one pay? Unless there are some one pay factors I’m missing that would require a major MSRP discount, no?

5

Thanks for the info! Ya US Bank might be an option to get lower monthly based on your experience.

I’m not convinced this gen of EVs will hold real value with everything on the horizon (batteries, more models, etc) so I would be happy to hold a cheaper lease for 36 months and see what is available then.

6

By getting an extremely low MF.
Some dealers may offer 4k off MSRP in addition to the 7500 lease credit.

Residual is 57% I think for 3 years. a 50k car then will depreciate 21.5k, 7.5k is the lease credit so you only need to pay the other 14k. If you got 4k off MSRP then there’s about 10k left + fees + interest

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7

I heard if you do one pay there’s no interest. It’s part of a new promo Hyundai is running

8

Based on the article from this post it looks like they cut it by .00140 for one pay: IONIQ5 Lease numbers - #2 by Leasefan

So you would need a money factor of .00140 to start with, which is below base currently.

I asked the dealer and their MF on one pay is .00108, so as I understand it I can’t get any lower than $16k one pay without bigger discount.

9

Do you know if they are marking it up from base MF from Hyundai?

10

My monthly payment was marked up a bit. But the one pay offer was from base MF

11

45k MSRP
41k Sale price
7500 rebate

56% residual
0.00108 MF
650 Acquisition Fee
899 dealer fee
500 Gov fee

Gets me to 12631 + sales tax

Am I missing something?

12

I don’t think you can find one with 45k msrp. Usually there is destination and ect

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