Hyundai Ioniq 5 Limited Lease Deal Check - Western Washington

Ask the Hackrs Buy/Finance
1

Here’s the deal I was offered on Friday, 10/4. I’d like to get the MSRP down another $1,000 at least. Is $2,000 really the upper bound for discounts on this model, or could I push for more?

I also want to get the “Anti-Theft Policy” removed. The dealership said it was mandatory, but that sounds off to me.

Finally, I believe the buy rate money factor should be 0.0016 for a 36/12 lease.

Anything else you all see as a place I could negotiate? Thanks in advance for the feedback!

MSRP: $59,580
Selling Price: $57,500
Discount: $2,080
Rebates/Incentives: $23,500
Money Factor (MF): 0.00200
Residual: 54% ($32,173.20)
Lease Term: 36 months
Annual Mileage: 12,000 miles
Base Payment: $510.29 (edit this payment represents a trade in loan payoff of ~$6k that I am not going to include in the final deal)
Monthly Tax: $54.35 (Seattle tax: 10.65%)
Total Payment: $564.64 (*see above edit)
Due at Signing: $0 (Zero Down)
Dealer Fees:
Doc Fee: $200
License/Title: $750
Anti-Theft Policy: $499
Acquisition Fee: $650
Free EA Charging for 2 years

2

Shouldn’t look something like this? One-pay says $12,040, monthly $367.

Calculator

3

Ooops, they offered me $25.2k for a trade-in that I owe $31,050 on, and I am not going to do that. That’s why there’s an extra 6k in there. My apologies for not including that in the above (making the payment terms wrong).

4

Comparing to some other WA leases on the forum:

5

wow this deal really sucks.
In CA it’s ~$400 on a 24, and you are paying $560 on a 36?

6

I believe that monthly payment is largely reflective of the $6k loan payoff on my current car. That’s $166/month, which would be equal to 400/month if there wasn’t interest on the $6k payoff.

7

Yes, the deals here are not as good as CA because we have a lot fewer dealerships and less supply as a result. Also the taxes are a few points higher than CA, and our EV registration fees are $750+ on new cars. But when you compare pre-tax lease costs they do not end up being that far apart.

8

You should construct a more aggressive offer and mass email it to sales managers at hyundai dealers across the state. Effective $1500 discount is really bad

9

Thanks for the replies, guys! I reached out to a few other dealers to see if they would play ball with a steeper discount.

10

I’m interested in leasing a similar car in the Seattle area. Please do keep us posted here with your offer.

11

of course, will do!

12

Can someone help me understand the difference between what the leasehackr calculator is telling me and what the dealer is offering? Also, how do we feel about this deal.
Edit: it looks like when i click ‘Taxes on Selling Price and fees are taxed’, the payment comes out to match the dealers payment. is this correct?

Here’s the offer:

  • Term: 36/10
  • MSRP: $59,555
  • Selling Price: $57,000
  • Capitalized Cost Reduction (Cap Red): $22,996.72
  • Rebate: $23,500
  • Residual: 54% of MSRP ($32,160)
  • Money Factor (MF): 0.0016 (equivalent to 3.84% APR)
  • Acquisition Fee: $650
  • Government Fees: $110
  • Taxes: $2,466.71 (10.3%)
  • Monthly Payment (Dealer): $303.28 (before tax)
13

I suspect because your rebates are taxed

14

Looks like a decent deal overall. Maybe push a bit more on the msrp discount?

15

I think it is, in WA all incentive as cash contribution are taxed.

17

Interested. Did you get a better deal?