Ioniq 5 Limited Lease Offer - IL & USA

Ask the Hackrs
1

Hello,
I wanted to ask about the lease offer that Hyundai is offering on their website (Lease a 2023 IONIQ 5 LIMITED AUTOMATIC TRANSMISSION RWD(50462REZ) for $459 per month for 36 months with $5,005 due at lease signing. Excludes registration, tax, title and license).
I am in Aurora, IL (Not Chicago)
-Offer shown based on $5,005 due (includes $459 first payment and $4,546 capitalized cost reduction).
-MSRP $53,935 (includes destination, excludes tax, license, title, registration, documentation fees, options, insurance and the like). - Includes application of $7,500 EV Lease Bonus resulting in a net capitalized cost of of $42,539.
-Net capitalized cost includes $650 acquisition fee.
-Total monthly payments $16,524.
Option to purchase at lease end $32,361.

2

Ignore those ads. What do you see in the Marketplace ?

2 Likes
3

There is nothing for Illinois.
And do you mean it’s not a good deal or it is not what the dealership would offer.

4

Both.

One solution is to have a car shipped from out of state.

5

Use the calculator to work back on these numbers. To get these numbers to work you will see how bad a deal is. Usually includes selling the car at MSRP and an inflated MF

In fairness, I think most dealers would jump at th chance to do the deal as advertised.

6

So this is the latest deal I received:

  • 4K down + First payment due at signing
  • 12000 M
  • 36 months
  • 58% RV
  • 8.25 city tax
  • Monthly Payment $496
7

How does that compare to the numbers you came up after using the calculator to work out what the deals in the marketplace would cost after being shipped to you in Illinois?

1 Like
8

Well it seems like a better score. But the numbers are not adding up based on what they gave me.

9

Well, let’s start with your target deal calculator and then can try to look at the dealer offer.

10

You are way short of information. You need to know MSRP, target % off, MF and rebates.

Look at this broker’s spreadsheet (below). Rebates can differ but you should target similar numbers to this after factoring in any differences in rebates.

As you can see, your offer is way higher than what brokers are publicly quoting. Your options are:

  1. Decide you don’t care/your time is more valuable and pay an extra $4k to be done with it
  2. Get educated and get a much better local deal
  3. Use a broker and ship it/fly to eat coast to pick it up and drive back.
1 Like
11

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