Greetings! I’ve never leased a car, so trying to figure out how things work.
We may have a line on the $239/mo Ioniq 6 deal that ends today, but before we commit to that, my wife like the 5 better, so thought I’d ask about this (bad) deal our local dealer proposed yesterday.
2023 Ioniq 5 SEL AWD. On lot since 7/2023. Dealer had to report it “sold” 12/2023 so warranty clock is ticking. 600 miles on it as he owner’s wife drove it, etc. gravity gold color, but we don’t care much about color other than no black, no white.
MSRP: 53,920
Residual: 60%: 32,352
24mo/12k
lease factor: 0.00248
Initial Cap Cost: 44,920
dueBill/weOwes(w): $249
Bank/Capped Fees: 650
Total Cap Reduction: 8167.22
Adjusted Cap Cost: 37,652.78
Cap Tx %: 8.25% - 673.00
FEG: -2195.00
TTL License: 600
CA Tire Fee 7.00
Doc Fee: 85.00
Total Fees: 125.00
Doc Tax %: 8.2500% $7.01
Bse Monthly Rental: 394.43
Sales Tax Window: 1461.77
Mostly use Tax: 8.25% - $32.54
Monthly Payment: $426.97
First Payment Date: 4/29/24
Deposit: $0
Drive Off: $10,000.00
Customer Cash: $2500.00
Rebate: 7500
Working Cash prompt: $10,000
Would you just not bother talking to these people anymore? I am currently talking with a dealer 150 miles away that has the I6 239/mo deal (no paper yet, though). I was referred to this dealer by a local broker who has a solid reputation (as one can have with car sales). I was going to also ask dealer #2 about what they may have.
since I don’t know much about deals, should I just take the $239 and be happy or try and deal on our more preferred vehicle, the 5? I read some of the deal reports posts and some pretty screaming deals out there.
I am waiting on the official #'s. I did find out it’s not the $239 deal since the car he has is the standard range. He’s going to put it in the calculator and see what happens.
Also going to run I6 SEL since the SE he has doesn’t have heated seats. My wife likes leather too, etc.
I will ask him to run the 2024 limited as well. I recently watched a review of how they stripped the SEL in 2024 and it’s pretty bad. yuck.
Thank you. That helps to know where they are at. I guess I had a pipe dream they would want the 2023 gone and give me some stupid deal on it…but sounds like everything is driven by the hyundai incentives.
I would recommend doing a feature comparison of the SEL vs the Limited. You can start here: 2024 IONIQ 5 SEL | Trim Features & Options | Hyundai USA. Click Compare and you should be able to highlight some of the differences. At a high level, the Limited has these additional features (not a full list):
Leather seats
Ventilated front seats
Bose sound system
Head Up Display
360 camera
LED projector headlights
Power folding side mirrors
I recently finalized a deal on a '24 SEL AWD. I was initially looking at a RWD model (lower MSRP, better range and better residual), but I opted for the dual motor with more horsepower and torque.
I did not bother getting quotes for a Limited, since I did not want to spend too much. FWIW, some Limiteds have an MSRP of nearly $60k.
that was kind of my thought. I understand new car depreciation, but that thing is worth like 30k as soon as I drive it off the lot. i thought they would do a better. deal. If they would let me buy it for high 30’s cash, i’d probably just do that…
but I like the idea of leasing an EV and picking something else up in 2 years
I also maybe should just say screw it and get a used 2022 AWD SEL and pay cash…still an option, but not exactly a lease hacker question
thank you again, everybody. I will post back once I know more numbers. This has been very informative.
I would recommend making an offer to dealers, given the info shared on this forum. New programs should be available tomorrow. Incentives may or may not change. We shall see.
So, false alarm on the $239 deal. Looks like it needs to be that exact SE model and this dealer doesn’t have one (and sounds like nobody else does). So, I was sent these deals…
This is the Ionic 5 SEL '24…now that I’ve researched, I would not get this car due to all the stuff that has been pulled off of it, but for reference and feedback:
None of these deal had any discount other than the rebates. If the OP was sitting at the dealer maybe he could have negotiated a small discount. Instead tell them how much your are willing to pay and let them figure out how to get you there. Tell them you will give them $260 a month for the I6 Standard Range with the $0 DAS.
ok, so for leases, I just say, “i’m willing to pay this amount” and they see if they can get there. I don’t start talking about the different numbers. I feel like I want to tell the guys with the '23; “here is my total cost over 2 years I want” or something like that…
It seems like the best way to compare is what the lease costs me over 2 years, right? Then I can compare car to car and deal to deal, right?
and what sort of total cost range should I be looking at that is considered a “deal”? like $8-9k for that '23? 10k for the I6 SEL?
