Hyundai Ioniq 5 EV SE Trim - good deal?

I got the following quote from a dealer.
Massachusetts based.

Hyundai Ioniq 5 SE
36mo/10k miles
MSRP: $51,345
Total Savings: $14,500 (I’m assuming $7,500 federal, $3,500 MOR-EV, and $3,000 of dealer discounts)

Trade Payoff: $0.00
Acq. Fee: $650.00
Doc Fee: $499.00
Registration Fee: $170.00
Due at Signing: $5,400
Disposition Fee: $400

Below is my best attempt at the Calculator. Are there any other “hidden fees” that I should factor in?

You need to separate out your discounts and your incentives in your calculator. The taxable incentives need to be in the taxed section.

What is the mor-ev incentive youre talking about?

What did ratefindr give you for rv/mf/incentives?

It’s the MA state rebate

Pretty sure these get $10k incentives before any state rebates, so sounds like a lot is being left on the table.

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Just updated my original post. The MOR-EV is an MA based incentive.

Also updated my calculator:

Not sure why my calculated monthly is so far off their monthly fee off $219?

Your dealer discount is actually only $1000. $10k is Hyundai lease cash + $3500 MA rebate. Not a good deal.

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I’m not sure what is a taxed vs untaxed rebate. Would the federal rebate, MOR EV rebate be taxed or untaxed? Also, what is leash cash? Sorry for the silly questions.

Rebates are not taxed in MA.

It is the incentive Hyundai is offering to lease this car. It includes the $7500 EV rebate.

Why so much $$ upfront? What is the breakdown?

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This is the updated breakdown:

The due at signing amount of $5,400 is $1,319 in fees ($650 Acq. Fee, $499 Doc Fee, and $170 Registration), the remainder of $4,081 is down payment. I got a trade in offer for my 2017 Jeep Patriot of $3,000.

I tried negotiating a reduction of the cost of the car from $53,260 to $50,900, or increase the discounts from $14,700 to $17,000 to bring the overall cost of ownership to be somewhat similar to a deal I saw on the forum (Signed! 2024 Hyundai Ioniq 5 SEL AWD, $2,292 down, $291.43 monthly, 36/10, Massachusetts - #24 by boyzclub2409). He was like nope :roll_eyes:

Hi,

You can refer to my own Signed topic for more info.

which dealer did you check? My dealer and another were ready to give the same rates I have mentioned… but this was April last day.

What is your effective monthly payment?

Thanks

Why are you putting money down? It is not recommend to do so on a lease.

Is this part of the offer? I would recommend asking the dealer to cut you a check.

Look into this thread as well

When I reached out to that broker a few months ago, they mentioned that their delaer did not work with MA residents. Not sure if that has changed, but OP can confirm.