In the middle of June we leased a Hyundai IONIQ 5 SEL AWD for $118.01 for 24 months, 12,000 miles per month. We wrote them a check for $1,515 which included taxes, dealer fees, and the first month payment. The whole shebang. Don’t know if it’s amazing. Don’t care. It is perfect for our current situation.
Fast forward, I have a 2023 Nissan Aryia Evolve+ AWD (love it!) coming up on lease end in October but the residual value is $30K+ and the market value is not that. So, I figured we would get another IONIQ just like the first one before the tax credits end to give us some breathing room to figure out what to do next.
But, now all of the sudden, the offers are nowhere near this, even though the ads are the same. Finally got someone to give me numbers. They put the rebates and dealer discounts and whatever in different places, and you do get the same lease cash or whatever, but it’s similar. The problem is that residual value is way lower. So, instead of a residual value of $34,631 the residual value is $28,458. The guy said that they don’t set that (I believe him) and that Hyundai adjusted them for this last month.
And now, my hundred bucks a month while we figure it out car payment is $180/mo with $2,000 down which doesn’t include taxes and dealer fees and stuff, so probably $3K or $4K. Barf.
Establishing a target deal before ever speaking to a dealer. If you’re finding out the residual value during a conversation with the dealer based on their quote, you have put the cart way before the horse.
Right. I was wondering if I was missing something that would make the new program work better for me since just doing the same thing again is not available.
Thanks for the info! I wonder how the lower msrps of the 2026 model year will affect these - I was hoping they’d drop soon, though changes seem minimal year to year.
