Ioniq 5 early buy out, deal check and understanding the numbers

[jdude]

I am in Oregon. I’ve been looking for a deal on a 2025 Ioniq 5 SE RWD. My plan A was to buy cash. I was hoping to be around 35k. This is my first time even looking at a new car, never mind considering a lease.

A car salesman reached out with this:

$48,025 - $16,000 lease rebate - $2,500 Standard Oregon rebate + tax, licensing, doc fee, lease purchase option fee, acquisition fee = $32,500 to own the car if lease is paid off right away.

basically claiming that after all is said and done, fees, etc, car will cost me ~32.5k.

he further shared the following:

The adjusted cap cost he claims is basically the lease buyout price. I was suspicious here, so I asked for lease example and they passed one on. The verbiage in the early buyout section looks like so:

section 22F further says:

I assumed at the beginning of the lease, there is nothing amortized yet, so it does seem like the buyout = adjusted capitalized cost?

Am I understanding correctly? Is there anything else I am missing here?

thanks much!

[mllcb42]

@jdude

it does seem like the buyout = adjusted capitalized cost?

Won’t be exactly that, but will be very close

[max_g]

What else (makes and models) are you open to?

[delta737h]

@jdude

Am I understanding correctly? Is there anything else I am missing here?

You might find this helpful, especially Method 3…

Monthly Payment Adjusted Lease Balance and Buyout Calculations.pdf (976.5 KB)

Don’t know how Oregon taxes leases or lease buyouts. The above pdf assumes that the base payments streams are taxed.

[jdude]

I think i’m pretty set on Ioniq 5. what else would you suggest that’s an EV with >300 mile range for less than 35k?

[jdude]

Thanks I will have a look. There’s no sales tax in Oregon, but I don’t know if there are some taxes related to cars… I see tax items in spreadsheets, but usually pretty small numbers.

[delta737h]

There may be a flat fee. Not sure. You may want to check with the Oregon Dept. of Revenue.

[jdude]

Just thought I’d post back to close the loop. The deal indeed worked as advertise. I just got my buyout quote the day after I leased the car and it is indeed around 32k. Therefore all the lease incentives carried over to the buyout price. New Ioniq 5 for 32k. Happy.